BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stake in Annaly Capital Management, Inc. (NYSE:NLY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Annaly Capital Management, Inc. (NYSE:NLY) by 60.8% during the second quarter, HoldingsChannel.com reports. The fund owned 95,913 shares of the real estate investment trust’s stock after purchasing an additional 36,266 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Annaly Capital Management were worth $1,828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC lifted its holdings in shares of Annaly Capital Management by 21.4% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 2,837 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 500 shares during the last quarter. Redmont Wealth Advisors LLC raised its holdings in shares of Annaly Capital Management by 20.6% in the second quarter. Redmont Wealth Advisors LLC now owns 3,279 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 559 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Annaly Capital Management by 6.0% in the 1st quarter. Sunbelt Securities Inc. now owns 9,937 shares of the real estate investment trust’s stock valued at $196,000 after purchasing an additional 562 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Annaly Capital Management by 3.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 20,537 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 597 shares during the period. Finally, Retirement Group LLC lifted its stake in shares of Annaly Capital Management by 27.7% during the 1st quarter. Retirement Group LLC now owns 3,168 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 687 shares during the last quarter. 51.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on NLY. Wells Fargo & Company upgraded shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $23.00 in a research note on Friday, September 20th. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a report on Wednesday, August 28th. Compass Point boosted their price target on Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of Annaly Capital Management from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Janney Montgomery Scott began coverage on Annaly Capital Management in a research report on Thursday, June 6th. They set a “buy” rating and a $21.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.38.

Insider Buying and Selling at Annaly Capital Management

In other news, CEO David L. Finkelstein sold 50,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $20.05, for a total value of $1,002,500.00. Following the transaction, the chief executive officer now owns 612,469 shares in the company, valued at approximately $12,280,003.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.

Annaly Capital Management Price Performance

Shares of Annaly Capital Management stock opened at $20.66 on Monday. The stock’s 50 day simple moving average is $20.14 and its 200-day simple moving average is $19.72. The stock has a market cap of $10.34 billion, a P/E ratio of -21.30 and a beta of 1.52. Annaly Capital Management, Inc. has a 1-year low of $14.52 and a 1-year high of $21.11.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. Annaly Capital Management had a positive return on equity of 15.24% and a negative net margin of 12.02%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $318.00 million. During the same period in the prior year, the business posted $0.72 EPS. As a group, research analysts expect that Annaly Capital Management, Inc. will post 2.67 EPS for the current fiscal year.

Annaly Capital Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 12.58%. The ex-dividend date of this dividend is Monday, September 30th. Annaly Capital Management’s dividend payout ratio is currently -268.04%.

Annaly Capital Management Profile

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.