Citigroup Inc. reduced its position in Annaly Capital Management, Inc. (NYSE:NLY – Free Report) by 17.4% during the second quarter, HoldingsChannel reports. The firm owned 721,697 shares of the real estate investment trust’s stock after selling 151,637 shares during the period. Citigroup Inc.’s holdings in Annaly Capital Management were worth $14,441,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of NLY. Bank of Montreal Can boosted its stake in shares of Annaly Capital Management by 24.0% in the 1st quarter. Bank of Montreal Can now owns 381,525 shares of the real estate investment trust’s stock valued at $2,828,000 after purchasing an additional 73,892 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Annaly Capital Management in the 1st quarter valued at $199,000. Rhumbline Advisers lifted its position in shares of Annaly Capital Management by 3.3% during the 1st quarter. Rhumbline Advisers now owns 1,185,123 shares of the real estate investment trust’s stock valued at $8,343,000 after acquiring an additional 37,762 shares during the period. Yousif Capital Management LLC lifted its position in shares of Annaly Capital Management by 6.6% during the 1st quarter. Yousif Capital Management LLC now owns 97,368 shares of the real estate investment trust’s stock valued at $685,000 after acquiring an additional 6,043 shares during the period. Finally, Cibc World Market Inc. acquired a new position in shares of Annaly Capital Management during the 1st quarter valued at $163,000. 49.16% of the stock is owned by institutional investors.
Analyst Ratings Changes
NLY has been the topic of a number of research reports. Royal Bank of Canada dropped their target price on shares of Annaly Capital Management from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 31st. UBS Group upgraded shares of Annaly Capital Management from a “neutral” rating to a “buy” rating and boosted their target price for the company from $21.00 to $24.00 in a research report on Monday, September 18th. Jonestrading reiterated a “buy” rating and set a $21.00 target price on shares of Annaly Capital Management in a research report on Thursday, August 3rd. StockNews.com initiated coverage on shares of Annaly Capital Management in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Finally, Piper Sandler boosted their target price on shares of Annaly Capital Management from $21.50 to $22.00 in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Annaly Capital Management has an average rating of “Moderate Buy” and a consensus price target of $21.71.
Annaly Capital Management Stock Performance
NLY opened at $17.79 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.09. The company’s fifty day moving average price is $17.84 and its two-hundred day moving average price is $19.07. Annaly Capital Management, Inc. has a 1-year low of $14.52 and a 1-year high of $24.43. The company has a market cap of $8.89 billion, a price-to-earnings ratio of -3.79 and a beta of 1.41.
Annaly Capital Management Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were issued a dividend of $0.65 per share. The ex-dividend date was Thursday, September 28th. This represents a $2.60 annualized dividend and a yield of 14.62%. Annaly Capital Management’s payout ratio is -55.44%.
Insiders Place Their Bets
In other news, CEO David L. Finkelstein sold 50,000 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $17.04, for a total value of $852,000.00. Following the completion of the sale, the chief executive officer now owns 545,259 shares in the company, valued at $9,291,213.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.
About Annaly Capital Management
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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