Allstate Corp Raises Holdings in Annaly Capital Management Inc $NLY

Allstate Corp lifted its stake in shares of Annaly Capital Management Inc (NYSE:NLY) by 114.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 48,113 shares of the real estate investment trust’s stock after purchasing an additional 25,628 shares during the quarter. Allstate Corp’s holdings in Annaly Capital Management were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Annaly Capital Management in the 4th quarter worth approximately $225,000. Clearstead Advisors LLC boosted its holdings in shares of Annaly Capital Management by 34.9% in the 4th quarter. Clearstead Advisors LLC now owns 6,199 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 1,603 shares in the last quarter. Legal & General Group Plc boosted its stake in Annaly Capital Management by 3.9% during the 4th quarter. Legal & General Group Plc now owns 1,984,768 shares of the real estate investment trust’s stock worth $44,379,000 after purchasing an additional 74,074 shares during the period. SLT Holdings LLC acquired a new stake in shares of Annaly Capital Management in the 4th quarter worth $224,000. Finally, HBK Sorce Advisory LLC increased its holdings in shares of Annaly Capital Management by 4.8% in the 4th quarter. HBK Sorce Advisory LLC now owns 24,646 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 1,128 shares in the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Analyst Upgrades and Downgrades

NLY has been the subject of several recent research reports. Argus upgraded shares of Annaly Capital Management to a “strong-buy” rating in a report on Thursday, February 5th. Wall Street Zen upgraded shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler dropped their price target on shares of Annaly Capital Management from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Annaly Capital Management from $23.25 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Annaly Capital Management from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Annaly Capital Management has an average rating of “Moderate Buy” and an average target price of $24.22.

Annaly Capital Management Trading Up 1.2%

Shares of NYSE NLY opened at $21.85 on Friday. Annaly Capital Management Inc has a twelve month low of $18.58 and a twelve month high of $24.52. The company has a market capitalization of $16.01 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 6.59 and a beta of 1.20. The firm has a 50-day moving average of $21.92 and a two-hundred day moving average of $22.49.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Annaly Capital Management had a net margin of 34.33% and a return on equity of 15.92%. The company had revenue of $341.56 million during the quarter, compared to analyst estimates of $595.27 million. As a group, research analysts predict that Annaly Capital Management Inc will post 2.98 earnings per share for the current year.

Annaly Capital Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.80 dividend on an annualized basis and a yield of 12.8%. Annaly Capital Management’s dividend payout ratio is currently 94.59%.

Annaly Capital Management Company 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.