Annaly Capital Management Inc $NLY Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia raised its holdings in Annaly Capital Management Inc (NYSE:NLY) by 54.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,915 shares of the real estate investment trust’s stock after buying an additional 33,303 shares during the quarter. Bank of Nova Scotia’s holdings in Annaly Capital Management were worth $2,100,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Annaly Capital Management by 6.7% during the second quarter. BlackRock Inc. now owns 87,219,586 shares of the real estate investment trust’s stock valued at $1,950,230,000 after acquiring an additional 5,485,296 shares in the last quarter. Vanguard Group Inc. boosted its stake in Annaly Capital Management by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock worth $1,422,401,000 after purchasing an additional 3,024,564 shares in the last quarter. State Street Corp boosted its stake in Annaly Capital Management by 8.4% in the 4th quarter. State Street Corp now owns 26,425,278 shares of the real estate investment trust’s stock worth $608,994,000 after purchasing an additional 2,053,451 shares in the last quarter. Geode Capital Management LLC grew its position in Annaly Capital Management by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 18,401,487 shares of the real estate investment trust’s stock worth $411,031,000 after purchasing an additional 1,503,559 shares during the last quarter. Finally, Norges Bank purchased a new stake in Annaly Capital Management during the 4th quarter worth approximately $162,477,000. Institutional investors and hedge funds own 51.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BTIG Research set a $24.00 price target on shares of Annaly Capital Management in a report on Wednesday, June 17th. Piper Sandler boosted their price objective on shares of Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. cut 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. Wells Fargo & Company reduced their target price on Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research report on Friday, July 10th. Two research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.33.

Annaly Capital Management Trading Down 0.9%

Shares of NYSE NLY opened at $22.89 on Thursday. Annaly Capital Management Inc has a 12 month low of $20.00 and a 12 month high of $24.52. The company has a 50 day simple moving average of $22.83 and a two-hundred day simple moving average of $22.38. The stock has a market cap of $17.25 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 6.03 and a beta of 1.16.

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

Annaly Capital Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 13.1%. Annaly Capital Management’s dividend payout ratio is currently 75.19%.

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.