Victory Capital Management Inc. Cuts Stock Holdings in Annaly Capital Management, Inc. (NYSE:NLY)

Posted by MarketBeat News on Aug 5th, 2022

Victory Capital Management Inc. decreased its stake in shares of Annaly Capital Management, Inc. (NYSE:NLY – Get Rating) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,178,899 shares of the real estate investment trust’s stock after selling 2,211 shares during the period. Victory Capital Management Inc. owned about 0.22% of Annaly Capital Management worth $20,409,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NLY. Qube Research & Technologies Ltd purchased a new position in shares of Annaly Capital Management during the fourth quarter valued at approximately $33,728,000. Goldman Sachs Group Inc. boosted its position in shares of Annaly Capital Management by 127.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,428,284 shares of the real estate investment trust’s stock valued at $58,089,000 after buying an additional 4,156,132 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of Annaly Capital Management by 32.9% during the first quarter. Thompson Siegel & Walmsley LLC now owns 10,514,616 shares of the real estate investment trust’s stock valued at $74,023,000 after buying an additional 2,604,138 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Annaly Capital Management by 62.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,848,134 shares of the real estate investment trust’s stock worth $45,732,000 after purchasing an additional 2,251,761 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Annaly Capital Management by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 18,746,546 shares of the real estate investment trust’s stock worth $146,633,000 after purchasing an additional 867,699 shares during the last quarter. Hedge funds and other institutional investors own 41.79% of the company’s stock.

Annaly Capital Management Price Performance

Shares of NLY opened at $6.62 on Friday. The firm has a market cap of $9.67 billion, a PE ratio of 2.63, a PEG ratio of 1.21 and a beta of 1.16. The stock’s fifty day moving average price is $6.30 and its two-hundred day moving average price is $6.77. Annaly Capital Management, Inc. has a 1 year low of $5.45 and a 1 year high of $8.94.

Annaly Capital Management (NYSE:NLY – Get Rating) last issued its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. Annaly Capital Management had a return on equity of 16.72% and a net margin of 178.91%. The firm had revenue of $475.14 million for the quarter, compared to analyst estimates of $399.39 million. During the same period in the previous year, the company posted $0.30 earnings per share. The business’s revenue was down 18.2% on a year-over-year basis. Sell-side analysts anticipate that Annaly Capital Management, Inc. will post 1.1 earnings per share for the current fiscal year.

Annaly Capital Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Thursday, June 30th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.29%. Annaly Capital Management’s payout ratio is 34.92%.

Insider Activity at Annaly Capital Management

In related news, CEO David L. Finkelstein acquired 200,000 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The shares were bought at an average cost of $5.56 per share, for a total transaction of $1,112,000.00. Following the purchase, the chief executive officer now owns 1,669,013 shares in the company, valued at approximately $9,279,712.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NLY shares. JPMorgan Chase & Co. cut their price objective on Annaly Capital Management from $7.50 to $6.50 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Piper Sandler cut their price objective on Annaly Capital Management from $6.50 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 28th. Barclays cut their price objective on Annaly Capital Management from $8.00 to $7.00 in a research report on Wednesday, April 27th. Credit Suisse Group cut their price objective on Annaly Capital Management to $6.50 in a research report on Friday, July 22nd. Finally, Keefe, Bruyette & Woods raised Annaly Capital Management from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $6.25 to $6.75 in a research report on Wednesday, June 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.67.

Annaly Capital Management Company Profile

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Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance and corporate middle market lending. The company invests in agency mortgage-backed securities, mortgage servicing rights, Agency commercial mortgage-backed securities, non-Agency residential mortgage assets, residential mortgage loans, credit risk transfer securities, corporate debts, and other commercial real estate investments.