Garden State Investment Advisory Services LLC Grows Holdings in Annaly Capital Management, Inc. (NYSE:NLY)

Garden State Investment Advisory Services LLC lifted its stake in Annaly Capital Management, Inc. (NYSE:NLY) by 6.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,859 shares of the real estate investment trust’s stock after purchasing an additional 768 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Annaly Capital Management were worth $238,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position in Annaly Capital Management by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 17,990,064 shares of the real estate investment trust’s stock valued at $361,061,000 after purchasing an additional 1,342,056 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Annaly Capital Management by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,092,118 shares of the real estate investment trust’s stock valued at $77,996,000 after buying an additional 41,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Annaly Capital Management by 531.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,981,081 shares of the real estate investment trust’s stock valued at $79,900,000 after buying an additional 3,350,435 shares during the period. Victory Capital Management Inc. lifted its stake in Annaly Capital Management by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,002,975 shares of the real estate investment trust’s stock worth $40,200,000 after acquiring an additional 138,320 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Annaly Capital Management by 19.2% during the 3rd quarter. Van ECK Associates Corp now owns 1,912,803 shares of the real estate investment trust’s stock valued at $37,395,000 after acquiring an additional 308,618 shares during the period. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Stock Performance

NYSE NLY opened at $19.93 on Tuesday. Annaly Capital Management, Inc. has a 52 week low of $17.67 and a 52 week high of $21.11. The firm has a 50 day moving average of $19.72 and a two-hundred day moving average of $19.85.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Annaly Capital Management had a return on equity of 14.75% and a net margin of 2.59%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $212.00 million. During the same quarter last year, the firm earned $0.66 EPS. As a group, analysts predict that Annaly Capital Management, Inc. will post 2.65 EPS for the current year.

Annaly Capital Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 13.05%. The ex-dividend date was Monday, September 30th. Annaly Capital Management’s dividend payout ratio (DPR) is presently -3,714.29%.

Analyst Ratings Changes

A number of equities analysts recently commented on NLY shares. Argus upgraded Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Thursday, October 31st. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a research note on Wednesday, August 28th. JPMorgan Chase & Co. cut their target price on shares of Annaly Capital Management from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Wells Fargo & Company raised shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $23.00 in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Annaly Capital Management presently has an average rating of “Moderate Buy” and an average target price of $21.33.

Annaly Capital Management Profile

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.