New York Life Investment Management LLC Sells 1,407 Shares of Annaly Capital Management, Inc. (NYSE:NLY)

Posted by on Jun 6th, 2023

New York Life Investment Management LLC reduced its stake in Annaly Capital Management, Inc. (NYSE:NLY – Get Rating) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,759 shares of the real estate investment trust’s stock after selling 1,407 shares during the period. New York Life Investment Management LLC’s holdings in Annaly Capital Management were worth $248,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Evoke Wealth LLC lifted its position in shares of Annaly Capital Management by 5.5% in the fourth quarter. Evoke Wealth LLC now owns 173,102 shares of the real estate investment trust’s stock worth $3,649,000 after buying an additional 9,055 shares in the last quarter. WMG Financial Advisors LLC purchased a new stake in shares of Annaly Capital Management during the 4th quarter worth approximately $417,000. CoreCap Advisors LLC bought a new position in shares of Annaly Capital Management during the 4th quarter valued at approximately $83,000. Advisor Group Holdings Inc. grew its holdings in shares of Annaly Capital Management by 19.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 538,909 shares of the real estate investment trust’s stock valued at $11,364,000 after purchasing an additional 87,415 shares in the last quarter. Finally, Bank of Nova Scotia bought a new stake in Annaly Capital Management in the fourth quarter worth $297,000. Hedge funds and other institutional investors own 52.80% of the company’s stock.

Annaly Capital Management Stock Down 0.2 %

Shares of NLY stock opened at $19.58 on Tuesday. The company’s 50 day moving average is $19.04 and its 200 day moving average is $20.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.08 and a quick ratio of 0.08. Annaly Capital Management, Inc. has a 52-week low of $15.11 and a 52-week high of $27.96.

Annaly Capital Management (NYSE:NLY – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.81 EPS for the quarter, topping the consensus estimate of $0.72 by $0.09. Annaly Capital Management had a positive return on equity of 18.86% and a negative net margin of 38.80%. The firm had revenue of $818.25 million during the quarter, compared to analyst estimates of $183.00 million. During the same period in the previous year, the company posted $1.12 EPS. As a group, analysts predict that Annaly Capital Management, Inc. will post 2.86 earnings per share for the current fiscal year.

Annaly Capital Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, March 31st were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 13.28%. The ex-dividend date of this dividend was Thursday, March 30th. Annaly Capital Management’s dividend payout ratio is currently -115.56%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com raised shares of Annaly Capital Management to a “sell” rating in a research note on Tuesday, May 23rd. JPMorgan Chase & Co. reduced their price objective on Annaly Capital Management from $23.00 to $22.00 in a research note on Monday, April 24th. Piper Sandler raised Annaly Capital Management from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $20.00 to $21.50 in a research note on Tuesday, May 2nd. Wells Fargo & Company cut their target price on Annaly Capital Management from $23.00 to $21.00 in a research report on Friday, April 28th. Finally, Argus downgraded Annaly Capital Management from a “buy” rating to a “hold” rating in a research report on Tuesday, February 21st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.28.

About Annaly Capital Management

(Get Rating)

Annaly Capital Management, Inc engages in the investment and financing of residential and commercial assets. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. The Agency group invests in agency mortgage-backed securities. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets.

Read More

Want to see what other hedge funds are holding NLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Annaly Capital Management, Inc. (NYSE:NLY – Get Rating).

Institutional Ownership by Quarter for Annaly Capital Management (NYSE:NLY)

Receive News & Ratings for Annaly Capital Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Annaly Capital Management and related companies with MarketBeat.com's FREE daily email newsletter.