Cibc World Market Inc. Acquires New Position in Annaly Capital Management Inc $NLY

Cibc World Market Inc. bought a new position in shares of Annaly Capital Management Inc (NYSE:NLY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 268,080 shares of the real estate investment trust’s stock, valued at approximately $5,994,000.

Other institutional investors also recently bought and sold shares of the company. Horizon Investments LLC purchased a new stake in shares of Annaly Capital Management during the 4th quarter valued at $7,946,000. Vanguard Group Inc. increased its holdings in shares of Annaly Capital Management by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock worth $1,422,401,000 after buying an additional 3,024,564 shares during the last quarter. DNB Asset Management AS raised its position in shares of Annaly Capital Management by 165.4% in the 4th quarter. DNB Asset Management AS now owns 336,067 shares of the real estate investment trust’s stock worth $7,514,000 after buying an additional 209,435 shares during the period. Legal & General Group Plc raised its position in shares of Annaly Capital Management by 3.9% in the 4th quarter. Legal & General Group Plc now owns 1,984,768 shares of the real estate investment trust’s stock worth $44,379,000 after buying an additional 74,074 shares during the period. Finally, Norges Bank acquired a new position in Annaly Capital Management in the fourth quarter valued at $162,477,000. 51.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BTIG Research set a $24.00 price target on Annaly Capital Management in a research report on Wednesday, June 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Annaly Capital Management in a research report on Friday, July 10th. Piper Sandler raised their target price on shares of Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company reduced their target price on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.33.

Annaly Capital Management Stock Performance

Shares of Annaly Capital Management stock opened at $23.11 on Wednesday. The firm has a market cap of $17.42 billion, a PE ratio of 5.79, a price-to-earnings-growth ratio of 6.07 and a beta of 1.16. The firm’s 50-day simple moving average is $22.82 and its 200-day simple moving average is $22.38. Annaly Capital Management Inc has a 1 year low of $20.00 and a 1 year high of $24.52.

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

Annaly Capital Management Increases Dividend

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

Annaly Capital Management Company 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.