The Manufacturers Life Insurance Company Sells 98,653 Shares of Annaly Capital Management Inc $NLY

The Manufacturers Life Insurance Company decreased its stake in shares of Annaly Capital Management Inc (NYSE:NLY) by 20.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 392,128 shares of the real estate investment trust’s stock after selling 98,653 shares during the period. The Manufacturers Life Insurance Company’s holdings in Annaly Capital Management were worth $8,294,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NLY. AQR Capital Management LLC raised its position in Annaly Capital Management by 111.8% in the 1st quarter. AQR Capital Management LLC now owns 56,803 shares of the real estate investment trust’s stock valued at $1,154,000 after buying an additional 29,978 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Annaly Capital Management by 39.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 14,874 shares of the real estate investment trust’s stock worth $302,000 after acquiring an additional 4,205 shares during the last quarter. Millennium Management LLC grew its stake in shares of Annaly Capital Management by 17.4% in the 1st quarter. Millennium Management LLC now owns 541,733 shares of the real estate investment trust’s stock worth $11,003,000 after acquiring an additional 80,481 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Annaly Capital Management by 20.8% in the 1st quarter. NewEdge Advisors LLC now owns 17,845 shares of the real estate investment trust’s stock worth $362,000 after acquiring an additional 3,074 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Annaly Capital Management by 833.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust’s stock valued at $59,318,000 after purchasing an additional 2,607,784 shares during the last quarter. Institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Stock Performance

NLY opened at $22.75 on Wednesday. Annaly Capital Management Inc has a fifty-two week low of $20.00 and a fifty-two week high of $24.52. The firm has a 50-day moving average of $22.35 and a 200 day moving average of $22.44. The firm has a market cap of $17.14 billion, a P/E ratio of 5.70, a PEG ratio of 5.95 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. Equities research analysts predict that Annaly Capital Management Inc will post 3.09 earnings per share for the current fiscal year.

Annaly Capital Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were issued a $0.75 dividend. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.2%. Annaly Capital Management’s payout ratio is presently 75.19%.

Wall Street Analysts Forecast Growth

NLY has been the topic of several analyst reports. UBS Group restated a “neutral” rating and set a $23.00 price target (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. JonesTrading reissued a “buy” rating and set a $25.00 target price on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Annaly Capital Management in a report on Wednesday, June 3rd. Finally, Piper Sandler upped their target price on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Annaly Capital Management has an average rating of “Moderate Buy” and an average price target of $24.33.

Annaly Capital Management Profile

Annaly Capital Management, Inc is a publicly traded real estate investment trust (REIT) that specializes in generating income through investment in mortgage-related assets. The company’s core business activities include the acquisition, financing, and management of a diversified portfolio of agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other real estate debt instruments. Annaly seeks to profit from the spread between the interest earned on its mortgage investments and its cost of funds, as well as from capital gains realized through active portfolio management.

Founded in 1997 and headquartered in New York City, Annaly has grown to become one of the largest mortgage REITs in the United States.