Kestra Advisory Services LLC Raises Position in Annaly Capital Management Inc $NLY

Kestra Advisory Services LLC lifted its holdings in Annaly Capital Management Inc (NYSE:NLY) by 76.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,616 shares of the real estate investment trust’s stock after purchasing an additional 124,159 shares during the quarter. Kestra Advisory Services LLC’s holdings in Annaly Capital Management were worth $6,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NLY. Resona Asset Management Co. Ltd. raised its stake in Annaly Capital Management by 8.4% in the first quarter. Resona Asset Management Co. Ltd. now owns 103,899 shares of the real estate investment trust’s stock valued at $2,201,000 after buying an additional 8,052 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Annaly Capital Management by 8.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 147,251 shares of the real estate investment trust’s stock worth $3,114,000 after acquiring an additional 11,400 shares during the last quarter. Swedbank AB grew its stake in shares of Annaly Capital Management by 11.8% during the first quarter. Swedbank AB now owns 1,434,379 shares of the real estate investment trust’s stock worth $30,337,000 after acquiring an additional 150,852 shares during the last quarter. Sage Rhino Capital LLC acquired a new position in shares of Annaly Capital Management during the first quarter valued at about $207,000. Finally, Ascentis Independent Advisors acquired a new position in shares of Annaly Capital Management during the first quarter valued at about $145,000. 51.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NLY shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. BTIG Research set a $24.00 price target on shares of Annaly Capital Management in a report on Wednesday, June 17th. Piper Sandler raised their price target on shares of Annaly Capital Management from $24.50 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Annaly Capital Management from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.44.

Annaly Capital Management Stock Up 2.2%

Shares of NYSE:NLY opened at $23.02 on Wednesday. Annaly Capital Management Inc has a 52-week low of $19.39 and a 52-week high of $24.52. The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 6.84 and a beta of 1.16. The business has a 50-day moving average price of $22.08 and a 200-day moving average price of $22.46.

Annaly Capital Management (NYSE:NLY) last issued its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%.The firm had revenue of $341.56 million for the quarter, compared to analyst estimates of $595.27 million. As a group, equities analysts anticipate that Annaly Capital Management Inc will post 3 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.75 dividend. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.00 annualized dividend and a dividend yield of 13.0%. Annaly Capital Management’s payout ratio is currently 101.35%.

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.