State of Michigan Retirement System reduced its stake in shares of Annaly Capital Management, Inc. (NYSE:NLY – Free Report) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,331 shares of the real estate investment trust’s stock after selling 800 shares during the quarter. State of Michigan Retirement System’s holdings in Annaly Capital Management were worth $2,663,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Annaly Capital Management by 2.9% during the first quarter. Vanguard Group Inc. now owns 132,287,354 shares of the real estate investment trust’s stock valued at $931,303,000 after buying an additional 3,668,441 shares during the last quarter. State Street Corp boosted its holdings in shares of Annaly Capital Management by 14.0% during the second quarter. State Street Corp now owns 34,722,698 shares of the real estate investment trust’s stock worth $212,614,000 after purchasing an additional 4,263,394 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Annaly Capital Management by 5.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,288,003 shares of the real estate investment trust’s stock worth $292,154,000 after purchasing an additional 800,940 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Annaly Capital Management by 166.1% during the second quarter. Goldman Sachs Group Inc. now owns 14,866,079 shares of the real estate investment trust’s stock worth $87,858,000 after purchasing an additional 9,279,874 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Annaly Capital Management by 1.9% during the first quarter. Northern Trust Corp now owns 10,435,592 shares of the real estate investment trust’s stock worth $73,467,000 after purchasing an additional 194,447 shares during the period. 51.24% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on NLY shares. JPMorgan Chase & Co. dropped their target price on shares of Annaly Capital Management from $23.00 to $22.00 in a report on Monday, April 24th. Wells Fargo & Company dropped their target price on shares of Annaly Capital Management from $23.00 to $21.00 in a report on Friday, April 28th. Piper Sandler upgraded shares of Annaly Capital Management from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $20.00 to $21.50 in a report on Tuesday, May 2nd. Finally, StockNews.com upgraded shares of Annaly Capital Management to a “sell” rating in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.69.
Annaly Capital Management Price Performance
Annaly Capital Management (NYSE:NLY – Get Free Report) last announced its earnings results on Thursday, April 27th. The real estate investment trust reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. Annaly Capital Management had a negative net margin of 38.80% and a positive return on equity of 18.86%. The business had revenue of $818.25 million during the quarter, compared to the consensus estimate of $183.00 million. During the same quarter last year, the firm earned $1.12 earnings per share. Analysts expect that Annaly Capital Management, Inc. will post 2.86 EPS for the current fiscal year.
Annaly Capital Management Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.94%. The ex-dividend date of this dividend is Thursday, June 29th. Annaly Capital Management’s dividend payout ratio is -115.56%.
Annaly Capital Management Profile
Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; residential mortgage loans; and agency or private label credit risk transfer securities.
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