Frank Rimerman Advisors LLC Makes New Investment in Annaly Capital Management, Inc. (NYSE:NLY)

Frank Rimerman Advisors LLC purchased a new position in shares of Annaly Capital Management, Inc. (NYSE:NLY) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 25,074 shares of the real estate investment trust’s stock, valued at approximately $478,000.

Other large investors also recently modified their holdings of the company. Core Wealth Advisors Inc. boosted its stake in Annaly Capital Management by 222.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 1,450 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Rise Advisors LLC bought a new stake in Annaly Capital Management in the first quarter valued at $29,000. Register Financial Advisors LLC acquired a new position in shares of Annaly Capital Management during the first quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its stake in shares of Annaly Capital Management by 107.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,077 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 1,076 shares during the period. Finally, MCF Advisors LLC bought a new stake in Annaly Capital Management in the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 51.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NLY shares. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a report on Wednesday, August 28th. JPMorgan Chase & Co. increased their target price on Annaly Capital Management from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. StockNews.com lowered shares of Annaly Capital Management from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $23.00 in a research note on Friday, September 20th. Finally, Janney Montgomery Scott initiated coverage on shares of Annaly Capital Management in a research report on Thursday, June 6th. They set a “buy” rating and a $21.00 target price for the company. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Annaly Capital Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.38.

Annaly Capital Management Price Performance

Shares of NLY stock opened at $20.58 on Wednesday. The firm has a 50-day moving average of $20.12 and a 200-day moving average of $19.70. Annaly Capital Management, Inc. has a one year low of $14.52 and a one year high of $21.11. The company has a market cap of $10.30 billion, a P/E ratio of -21.21 and a beta of 1.52.

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

Annaly Capital Management Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, September 30th. This represents a $2.60 annualized dividend and a yield of 12.64%. Annaly Capital Management’s dividend payout ratio is currently -268.04%.

Insider Buying and Selling at Annaly Capital Management

In related news, CEO David L. Finkelstein sold 50,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were 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 directly owns 612,469 shares of the company’s stock, valued at approximately $12,280,003.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

About Annaly Capital Management

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.