BridgePort Financial Solutions LLC Buys Shares of 30,473 Annaly Capital Management Inc $NLY

BridgePort Financial Solutions LLC bought a new position in shares of Annaly Capital Management Inc (NYSE:NLY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,473 shares of the real estate investment trust’s stock, valued at approximately $616,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake 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 worth $1,104,761,000 after purchasing an additional 2,344,867 shares in the last quarter. State Street Corp grew its holdings in Annaly Capital Management by 2.8% during the 2nd quarter. State Street Corp now owns 22,683,988 shares of the real estate investment trust’s stock valued at $442,136,000 after buying an additional 611,817 shares during the last quarter. Geode Capital Management LLC grew its holdings in Annaly Capital Management by 6.8% during the 2nd quarter. Geode Capital Management LLC now owns 14,926,231 shares of the real estate investment trust’s stock valued at $280,535,000 after buying an additional 949,260 shares during the last quarter. Norges Bank purchased a new position in Annaly Capital Management during the second quarter worth $130,626,000. Finally, Brandywine Global Investment Management LLC raised its holdings in shares of Annaly Capital Management by 33.3% in the second quarter. Brandywine Global Investment Management LLC now owns 4,328,606 shares of the real estate investment trust’s stock worth $81,464,000 after acquiring an additional 1,081,482 shares during the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Stock Down 0.9%

NLY stock opened at $22.64 on Tuesday. The company has a market cap of $15.46 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 7.09 and a beta of 1.24. The business has a fifty day simple moving average of $23.08 and a 200-day simple moving average of $21.88. Annaly Capital Management Inc has a 52 week low of $16.59 and a 52 week high of $24.52.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $567.67 million. Annaly Capital Management had a return on equity of 15.80% and a net margin of 34.02%. As a group, analysts expect that Annaly Capital Management Inc will post 2.81 earnings per share for the current fiscal year.

Annaly Capital Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 12.4%. The ex-dividend date of this dividend was Wednesday, December 31st. Annaly Capital Management’s dividend payout ratio is 100.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NLY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods upped their target price on shares of Annaly Capital Management from $23.25 to $25.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Royal Bank Of Canada lifted their price target on shares of Annaly Capital Management from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. boosted their price objective on shares of Annaly Capital Management from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $25.00 price target (up from $23.00) on shares of Annaly Capital Management in a report on Thursday, January 29th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.11.

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.