Retirement Systems of Alabama Raises Stake in Annaly Capital Management Inc $NLY

Retirement Systems of Alabama boosted its holdings in Annaly Capital Management Inc (NYSE:NLY) by 3.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 998,259 shares of the real estate investment trust’s stock after purchasing an additional 36,753 shares during the quarter. Retirement Systems of Alabama’s holdings in Annaly Capital Management were worth $20,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Annaly Capital Management by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 58,701,446 shares of the real estate investment trust’s stock worth $1,104,761,000 after purchasing an additional 2,344,867 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Annaly Capital Management by 73.9% in the third quarter. Nisa Investment Advisors LLC now owns 270,482 shares of the real estate investment trust’s stock worth $5,680,000 after buying an additional 114,946 shares during the last quarter. CreativeOne Wealth LLC bought a new position in shares of Annaly Capital Management in the second quarter worth approximately $429,000. Dupree Financial Group LLC lifted its stake in shares of Annaly Capital Management by 49.2% in the third quarter. Dupree Financial Group LLC now owns 470,508 shares of the real estate investment trust’s stock worth $9,509,000 after buying an additional 155,061 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Annaly Capital Management by 7.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,083,953 shares of the real estate investment trust’s stock valued at $76,860,000 after buying an additional 275,186 shares during the last quarter. Institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Price Performance

NLY stock opened at $23.84 on Tuesday. Annaly Capital Management Inc has a 1 year low of $16.59 and a 1 year high of $24.40. The company has a market cap of $16.28 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 7.37 and a beta of 1.25. The stock’s fifty day moving average price is $22.87 and its 200-day moving average price is $21.65.

Annaly Capital Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date is Wednesday, December 31st. Annaly Capital Management’s payout ratio is currently 129.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NLY shares. BTIG Research upgraded shares of Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, January 6th. Piper Sandler restated an “overweight” rating and issued a $25.00 price target (up previously from $23.50) on shares of Annaly Capital Management in a research note on Thursday, January 15th. Jones Trading reaffirmed a “buy” rating and set a $22.00 price objective on shares of Annaly Capital Management in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a report on Wednesday, January 21st. Finally, Barclays set a $23.00 target price on shares of Annaly Capital Management and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.81.

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.