Summit Securities Group LLC Reduces Stake in Annaly Capital Management, Inc. (NYSE:NLY)

Summit Securities Group LLC lessened its position in shares of Annaly Capital Management, Inc. (NYSE:NLY) by 88.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,900 shares of the real estate investment trust’s stock after selling 43,900 shares during the quarter. Summit Securities Group LLC’s holdings in Annaly Capital Management were worth $108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allstate Corp purchased a new stake in Annaly Capital Management in the fourth quarter valued at approximately $289,000. Brown Brothers Harriman & Co. acquired a new position in shares of Annaly Capital Management in the fourth quarter valued at approximately $180,000. Pictet Asset Management Holding SA increased its position in shares of Annaly Capital Management by 9.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 281,974 shares of the real estate investment trust’s stock worth $5,160,000 after acquiring an additional 23,789 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Annaly Capital Management during the 4th quarter worth about $115,000. Finally, Norges Bank purchased a new stake in shares of Annaly Capital Management during the fourth quarter worth approximately $127,397,000. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Price Performance

NLY opened at $20.66 on Friday. The stock has a market capitalization of $11.95 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 4.89 and a beta of 1.53. The business has a 50-day moving average of $20.99 and a two-hundred day moving average of $20.06. Annaly Capital Management, Inc. has a 12 month low of $17.67 and a 12 month high of $22.11.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.05. Annaly Capital Management had a net margin of 20.70% and a return on equity of 14.95%. Equities research analysts anticipate that Annaly Capital Management, Inc. will post 2.81 earnings per share for the current year.

Annaly Capital Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.70 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from Annaly Capital Management’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a yield of 13.56%. Annaly Capital Management’s dividend payout ratio (DPR) is 176.10%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Annaly Capital Management in a research note on Monday, February 10th. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a report on Thursday, January 23rd. Barclays started coverage on Annaly Capital Management in a research note on Monday, January 6th. They set an “equal weight” rating and a $19.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Annaly Capital Management from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.44.

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.