Cane Capital Partners LLC Sells 25,000 Shares of Annaly Capital Management Inc $NLY

Cane Capital Partners LLC lowered its stake in Annaly Capital Management Inc (NYSE:NLY) by 51.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,028 shares of the real estate investment trust’s stock after selling 25,000 shares during the period. Cane Capital Partners LLC’s holdings in Annaly Capital Management were worth $508,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. IFM Investors Pty Ltd boosted its stake in shares of Annaly Capital Management by 27.3% during the first quarter. IFM Investors Pty Ltd now owns 260,032 shares of the real estate investment trust’s stock valued at $5,500,000 after purchasing an additional 55,802 shares in the last quarter. Wealth Care LLC purchased a new position in shares of Annaly Capital Management in the 1st quarter valued at about $512,000. SMART Wealth LLC purchased a new stake in Annaly Capital Management in the first quarter valued at approximately $311,000. SageGuard Financial Group LLC acquired a new position in Annaly Capital Management in the first quarter valued at $244,000. Finally, Dupree Financial Group LLC increased its position in Annaly Capital Management by 0.5% during the 1st quarter. Dupree Financial Group LLC now owns 474,512 shares of the real estate investment trust’s stock worth $10,036,000 after purchasing an additional 2,180 shares during the period. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JonesTrading reaffirmed a “buy” rating and set a $25.00 price objective on shares of Annaly Capital Management in a research note on Wednesday, April 22nd. 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. Piper Sandler lowered their target price 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. UBS Group reiterated a “neutral” rating and issued a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a research report on Friday, April 24th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.11.

Annaly Capital Management Price Performance

Shares of NLY opened at $22.23 on Thursday. The company has a market cap of $16.29 billion, a P/E ratio of 7.51, a P/E/G ratio of 6.83 and a beta of 1.16. Annaly Capital Management Inc has a one year low of $19.01 and a one year high of $24.52. The firm has a 50 day simple moving average of $22.07 and a two-hundred day simple moving average of $22.45.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results 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. The firm had revenue of $341.56 million for the quarter, compared to analyst estimates of $595.27 million. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%. On average, analysts expect that Annaly Capital Management Inc will post 2.98 earnings per share for the current fiscal year.

Annaly Capital Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.75 per share. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 13.5%. The ex-dividend date is Tuesday, June 30th. Annaly Capital Management’s dividend payout ratio (DPR) is currently 101.35%.

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.