Apollon Wealth Management LLC Has $8.66 Million Stake in Annaly Capital Management Inc $NLY

Apollon Wealth Management LLC boosted its position in shares of Annaly Capital Management Inc (NYSE:NLY) by 1,888.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 409,484 shares of the real estate investment trust’s stock after purchasing an additional 388,886 shares during the period. Apollon Wealth Management LLC’s holdings in Annaly Capital Management were worth $8,661,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NLY. Vanguard Group Inc. increased its stake in Annaly Capital Management by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock valued at $1,422,401,000 after acquiring an additional 3,024,564 shares during the last quarter. State Street Corp lifted 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 purchasing an additional 2,053,451 shares during the last quarter. Geode Capital Management LLC lifted its stake in Annaly Capital Management by 8.9% during 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 last quarter. Norges Bank acquired a new stake in shares of Annaly Capital Management in the 4th quarter valued at $162,477,000. Finally, Morgan Stanley boosted its holdings in shares of Annaly Capital Management by 33.5% in the 4th 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. 51.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. UBS Group reissued a “neutral” rating and issued a $23.00 target price (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. JPMorgan Chase & Co. increased their price objective 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. BTIG Research set a $24.00 target price on shares of Annaly Capital Management in a research report on Wednesday, June 17th. Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $25.00 price target on shares of Annaly Capital Management in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.11.

Annaly Capital Management Price Performance

Shares of NLY opened at $23.14 on Tuesday. The business has a 50-day moving average of $22.09 and a 200-day moving average of $22.45. The company has a market capitalization of $16.95 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 7.01 and a beta of 1.17. Annaly Capital Management Inc has a 1 year low of $18.64 and a 1 year high of $24.52.

Annaly Capital Management (NYSE:NLY) last announced its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The business had revenue of $341.56 million for the quarter, compared to analysts’ expectations of $595.27 million. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%. As a group, sell-side analysts anticipate that Annaly Capital Management Inc will post 2.98 EPS for the current year.

Annaly Capital Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.0%. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. Annaly Capital Management’s payout ratio is currently 94.59%.

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.