Freestone Grove Partners LP Buys New Position in Annaly Capital Management Inc $NLY

Freestone Grove Partners LP bought a new stake in Annaly Capital Management Inc (NYSE:NLY) during the second quarter, HoldingsChannel.com reports. The fund bought 103,892 shares of the real estate investment trust’s stock, valued at approximately $2,323,000.

Several other hedge funds also recently modified their holdings of NLY. HUB Investment Partners LLC raised its position in shares of Annaly Capital Management by 3.3% in the second quarter. HUB Investment Partners LLC now owns 14,668 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 462 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in Annaly Capital Management by 1.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 24,513 shares of the real estate investment trust’s stock worth $548,000 after acquiring an additional 463 shares during the last quarter. Quadcap Wealth Management LLC boosted its position in Annaly Capital Management by 2.3% during the first quarter. Quadcap Wealth Management LLC now owns 21,889 shares of the real estate investment trust’s stock worth $463,000 after acquiring an additional 495 shares during the last quarter. Fourth Dimension Wealth LLC grew its stake in Annaly Capital Management by 76.9% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 500 shares during the period. Finally, GWN Securities Inc. grew its stake in Annaly Capital Management by 5.0% in the 4th quarter. GWN Securities Inc. now owns 10,811 shares of the real estate investment trust’s stock worth $242,000 after acquiring an additional 514 shares during the period. 51.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Annaly Capital Management in a research note on Friday, July 10th. Zacks Research raised Annaly Capital Management from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. Piper Sandler increased their target price on Annaly Capital Management from $24.50 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Finally, Wall Street Zen upgraded Annaly Capital Management from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.33.

Annaly Capital Management Stock Performance

Annaly Capital Management stock opened at $23.07 on Friday. Annaly Capital Management Inc has a 1 year low of $20.00 and a 1 year high of $24.52. The firm has a 50 day moving average price of $22.86 and a 200 day moving average price of $22.39. The company has a market cap of $17.39 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 6.02 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results 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. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. Sell-side analysts predict that Annaly Capital Management Inc will post 3.09 EPS for the current year.

Annaly Capital Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.0%. The ex-dividend date was Tuesday, June 30th. This is a positive change from Annaly Capital Management’s previous quarterly dividend of $0.70. Annaly Capital Management’s 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.