Cadent Capital Advisors LLC Invests $508,000 in Annaly Capital Management Inc $NLY

Cadent Capital Advisors LLC acquired a new stake in shares of Annaly Capital Management Inc (NYSE:NLY) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 25,118 shares of the real estate investment trust’s stock, valued at approximately $508,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Annaly Capital Management in the second quarter valued at $130,626,000. Kingstone Capital Partners Texas LLC purchased a new position in shares of Annaly Capital Management in the 2nd quarter worth about $100,216,000. Goldman Sachs Group Inc. increased its position in shares of Annaly Capital Management by 833.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust’s stock valued at $59,318,000 after purchasing an additional 2,607,784 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Annaly Capital Management by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 58,701,446 shares of the real estate investment trust’s stock valued at $1,104,761,000 after buying an additional 2,344,867 shares in the last quarter. Finally, Amundi raised its holdings in shares of Annaly Capital Management by 147.9% during the 2nd quarter. Amundi now owns 2,055,226 shares of the real estate investment trust’s stock valued at $39,707,000 after buying an additional 1,226,028 shares in the last quarter. 51.56% of the stock is currently owned by hedge funds and other institutional investors.

Annaly Capital Management Stock Up 1.2%

NYSE:NLY opened at $23.22 on Thursday. The firm has a market capitalization of $15.86 billion, a P/E ratio of 10.75, a P/E/G ratio of 7.18 and a beta of 1.26. Annaly Capital Management Inc has a 52 week low of $16.59 and a 52 week high of $23.31. The company has a fifty day moving average of $21.93 and a 200 day moving average of $20.98.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $493.55 million. Annaly Capital Management had a net margin of 26.68% and a return on equity of 15.96%. As a group, analysts anticipate that Annaly Capital Management Inc will post 2.81 EPS for the current year.

Annaly Capital Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.80 dividend on an annualized basis and a yield of 12.1%. Annaly Capital Management’s dividend payout ratio is presently 129.63%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NLY. Barclays set a $20.00 target price on Annaly Capital Management and gave the stock a “cautious” rating in a research note on Monday, October 6th. Jones Trading reaffirmed a “buy” rating and set a $22.00 target price on shares of Annaly Capital Management in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a research report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating and set a $23.50 price target (up from $22.50) on shares of Annaly Capital Management in a research report on Monday. Finally, UBS Group raised their price objective on Annaly Capital Management from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.86.

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.