Connor Clark & Lunn Investment Management Ltd. Invests $5.97 Million in Annaly Capital Management Inc $NLY

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Annaly Capital Management Inc (NYSE:NLY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 267,015 shares of the real estate investment trust’s stock, valued at approximately $5,970,000.

A number of other large investors have also recently modified their holdings of NLY. Fourth Dimension Wealth LLC grew its stake in Annaly Capital Management by 76.9% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 500 shares in the last quarter. Root Financial Partners LLC raised its position in Annaly Capital Management by 585.6% during the 1st quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,136 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in Annaly Capital Management during the 4th quarter valued at $31,000. TD Private Client Wealth LLC lifted its holdings in shares of Annaly Capital Management by 361.3% in the 4th quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,178 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Annaly Capital Management in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Zacks Research upgraded Annaly Capital Management from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Piper Sandler upped their price objective on shares of Annaly Capital Management from $24.50 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a report on Friday, July 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Annaly Capital Management Stock Up 0.9%

Annaly Capital Management stock opened at $23.05 on Friday. The business has a fifty day moving average of $22.85 and a two-hundred day moving average of $22.38. The firm has a market cap of $17.38 billion, a P/E ratio of 5.78, a P/E/G ratio of 5.97 and a beta of 1.16. Annaly Capital Management Inc has a twelve month low of $20.00 and a twelve month high of $24.52.

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

Annaly Capital Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 13.0%. Annaly Capital Management’s dividend payout ratio is 75.19%.

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.