Bank of Nova Scotia Increases Stake in Annaly Capital Management Inc $NLY

Bank of Nova Scotia raised its stake in Annaly Capital Management Inc (NYSE:NLY) by 54.9% in the second quarter, HoldingsChannel reports. The fund owned 93,915 shares of the real estate investment trust’s stock after purchasing an additional 33,303 shares during the period. Bank of Nova Scotia’s holdings in Annaly Capital Management were worth $2,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. HUB Investment Partners LLC grew its stake in shares of Annaly Capital Management by 3.3% during the 2nd quarter. HUB Investment Partners LLC now owns 14,668 shares of the real estate investment trust’s stock worth $328,000 after purchasing an additional 462 shares during the period. Koshinski Asset Management Inc. increased its holdings in shares of Annaly Capital Management by 1.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 24,513 shares of the real estate investment trust’s stock valued at $548,000 after purchasing an additional 463 shares in the last quarter. Quadcap Wealth Management LLC lifted its stake in shares of Annaly Capital Management by 2.3% in the 1st quarter. Quadcap Wealth Management LLC now owns 21,889 shares of the real estate investment trust’s stock valued at $463,000 after purchasing an additional 495 shares during the period. Fourth Dimension Wealth LLC lifted its stake in shares of Annaly Capital Management by 76.9% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 500 shares during the period. Finally, GWN Securities Inc. boosted its holdings in Annaly Capital Management by 5.0% during the fourth quarter. GWN Securities Inc. now owns 10,811 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 514 shares in the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Stock Performance

NYSE:NLY opened at $22.89 on Thursday. The company has a fifty day moving average of $22.83 and a two-hundred day moving average of $22.38. The stock has a market capitalization of $17.25 billion, a PE ratio of 5.74, a P/E/G ratio of 6.03 and a beta of 1.16. Annaly Capital Management Inc has a fifty-two week low of $20.00 and a fifty-two week high of $24.52.

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

Annaly Capital Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were paid a $0.75 dividend. 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 13.1%. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.70. Annaly Capital Management’s dividend payout ratio is 75.19%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Zacks Research upgraded shares of Annaly Capital Management from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. BTIG Research set a $24.00 target price on shares of Annaly Capital Management in a research note on Wednesday, June 17th. JPMorgan Chase & Co. dropped their target price on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. Finally, Piper Sandler raised 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. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Annaly Capital Management presently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

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.