Van ECK Associates Corp Acquires 208,506 Shares of Annaly Capital Management Inc $NLY

Van ECK Associates Corp lifted its stake in shares of Annaly Capital Management Inc (NYSE:NLY) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,098,157 shares of the real estate investment trust’s stock after buying an additional 208,506 shares during the quarter. Van ECK Associates Corp’s holdings in Annaly Capital Management were worth $69,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Annaly Capital Management by 6.7% during the 2nd quarter. BlackRock Inc. now owns 87,219,586 shares of the real estate investment trust’s stock valued at $1,950,230,000 after acquiring an additional 5,485,296 shares during the period. State Street Corp boosted its stake in Annaly Capital Management by 8.4% during the fourth quarter. State Street Corp now owns 26,425,278 shares of the real estate investment trust’s stock worth $608,994,000 after acquiring an additional 2,053,451 shares in the last quarter. Geode Capital Management LLC grew its holdings in Annaly Capital Management by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 18,401,487 shares of the real estate investment trust’s stock worth $411,031,000 after purchasing an additional 1,503,559 shares during the period. Norges Bank acquired a new stake in Annaly Capital Management in the fourth quarter worth $162,477,000. Finally, Morgan Stanley increased its stake in Annaly Capital Management by 33.5% in the fourth quarter. Morgan Stanley now owns 6,977,329 shares of the real estate investment trust’s stock valued at $156,013,000 after purchasing an additional 1,751,509 shares in the last quarter. Institutional investors own 51.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NLY. Wells Fargo & Company dropped their price objective on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. JPMorgan Chase & Co. reduced their target price on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. BTIG Research set a $24.00 target price on Annaly Capital Management in a research report on Wednesday, June 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 price target on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Annaly Capital Management Trading Up 0.0%

Annaly Capital Management stock opened at $23.07 on Friday. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of 5.78, a price-to-earnings-growth ratio of 6.02 and a beta of 1.16. The firm’s fifty day moving average price is $22.86 and its two-hundred day moving average price is $22.39. Annaly Capital Management Inc has a 1-year low of $20.00 and a 1-year high of $24.52.

Annaly Capital Management (NYSE:NLY) last posted its earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $639.80 million. On average, research analysts forecast that Annaly Capital Management Inc will post 3.09 EPS for the current year.

Annaly Capital Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a $0.75 dividend. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.70. 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. Annaly Capital Management’s dividend payout ratio is 75.19%.

Annaly Capital Management Profile

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.