Great Lakes Advisors LLC Sells 108,293 Shares of Annaly Capital Management Inc $NLY

Great Lakes Advisors LLC decreased its stake in Annaly Capital Management Inc (NYSE:NLY) by 30.9% in the second quarter, Holdings Channel.com reports. The firm owned 242,612 shares of the real estate investment trust’s stock after selling 108,293 shares during the period. Great Lakes Advisors LLC’s holdings in Annaly Capital Management were worth $5,425,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Annaly Capital Management by 6.7% during the 2nd quarter. BlackRock Inc. now owns 87,219,586 shares of the real estate investment trust’s stock valued at $1,950,230,000 after buying an additional 5,485,296 shares during the period. Vanguard Group Inc. boosted its stake in Annaly Capital Management by 5.0% during the fourth 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 period. State Street Corp raised its stake in shares of Annaly Capital Management by 8.4% in the fourth quarter. State Street Corp now owns 26,425,278 shares of the real estate investment trust’s stock valued at $608,994,000 after acquiring an additional 2,053,451 shares during the period. Geode Capital Management LLC raised its stake in shares of Annaly Capital Management by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 18,401,487 shares of the real estate investment trust’s stock valued at $411,031,000 after acquiring an additional 1,503,559 shares during the period. Finally, Norges Bank bought a new stake in shares of Annaly Capital Management in the 4th quarter worth about $162,477,000. Institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Trading Up 1.4%

NYSE:NLY opened at $23.73 on Thursday. The company has a market cap of $17.88 billion, a price-to-earnings ratio of 5.95, a price-to-earnings-growth ratio of 6.11 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. The stock has a fifty day simple moving average of $22.73 and a 200-day simple moving average of $22.37.

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 firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. As a group, equities research analysts predict that Annaly Capital Management Inc will post 3.09 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a $0.75 dividend. This is a positive change 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 annualized dividend and a yield of 12.6%. Annaly Capital Management’s dividend payout ratio is presently 75.19%.

Wall Street Analysts Forecast Growth

NLY has been the subject of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 price target on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Piper Sandler boosted their target price on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. BTIG Research set a $24.00 target price on Annaly Capital Management in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company cut their target price on Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.33.

About Annaly Capital Management

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.