Citigroup Inc. Purchases 280,645 Shares of Annaly Capital Management Inc $NLY

Citigroup Inc. boosted its position in shares of Annaly Capital Management Inc (NYSE:NLY) by 48.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 865,055 shares of the real estate investment trust’s stock after acquiring an additional 280,645 shares during the period. Citigroup Inc.’s holdings in Annaly Capital Management were worth $17,483,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NLY. Financial Gravity Companies Inc. purchased a new stake in shares of Annaly Capital Management during the 2nd quarter worth approximately $25,000. Delos Wealth Advisors LLC bought a new stake in Annaly Capital Management in the second quarter worth $28,000. Evolution Wealth Management Inc. purchased a new stake in Annaly Capital Management during the second quarter valued at $29,000. Elevation Point Wealth Partners LLC bought a new position in Annaly Capital Management during the second quarter valued at $34,000. Finally, MCF Advisors LLC lifted its position in Annaly Capital Management by 41.6% during the third quarter. MCF Advisors LLC now owns 1,688 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Insiders Place Their Bets

In other Annaly Capital Management news, CFO Serena Wolfe sold 16,536 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $23.14, for a total value of $382,643.04. Following the completion of the sale, the chief financial officer directly owned 173,081 shares of the company’s stock, valued at $4,005,094.34. The trade was a 8.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Steven Francis Campbell sold 26,491 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $22.83, for a total transaction of $604,789.53. Following the transaction, the chief operating officer directly owned 178,000 shares in the company, valued at approximately $4,063,740. This trade represents a 12.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 71,252 shares of company stock valued at $1,639,995 over the last three months. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JonesTrading boosted their target price on shares of Annaly Capital Management from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Argus raised Annaly Capital Management to a “strong-buy” rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Wednesday, January 21st. BTIG Research upgraded Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, January 6th. Finally, Piper Sandler restated an “overweight” rating and set a $25.00 price target (up from $23.50) on shares of Annaly Capital Management in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Annaly Capital Management presently has an average rating of “Moderate Buy” and a consensus price target of $24.11.

Annaly Capital Management Price Performance

Shares of NYSE:NLY opened at $23.25 on Friday. The firm has a market capitalization of $16.70 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 7.16 and a beta of 1.24. The business has a 50 day simple moving average of $23.21 and a two-hundred day simple moving average of $22.09. Annaly Capital Management Inc has a 1 year low of $16.59 and a 1 year high of $24.52.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. Annaly Capital Management had a return on equity of 15.80% and a net margin of 34.02%.The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $567.67 million. Equities research analysts expect that Annaly Capital Management Inc will post 2.81 EPS for the current fiscal year.

Annaly Capital Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Annaly Capital Management’s payout ratio is currently 100.72%.

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.