Retirement Systems of Alabama Has $16 Million Stock Position in Annaly Capital Management, Inc. (NYSE:NLY)

Retirement Systems of Alabama cut its holdings in Annaly Capital Management, Inc. (NYSE:NLY) by 1.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 839,614 shares of the real estate investment trust’s stock after selling 10,310 shares during the quarter. Retirement Systems of Alabama’s holdings in Annaly Capital Management were worth $16,003,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Core Wealth Advisors Inc. grew its position in shares of Annaly Capital Management by 222.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 1,450 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. Rise Advisors LLC bought a new position in Annaly Capital Management during the 1st quarter worth $29,000. GAMMA Investing LLC acquired a new position in Annaly Capital Management in the 4th quarter valued at $33,000. First United Bank & Trust bought a new stake in shares of Annaly Capital Management during the 4th quarter valued at $33,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Annaly Capital Management during the 1st quarter worth $37,000. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Price Performance

NLY stock opened at $20.01 on Friday. Annaly Capital Management, Inc. has a 1 year low of $14.52 and a 1 year high of $21.07. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of -20.63 and a beta of 1.53. The company has a 50 day simple moving average of $19.82 and a 200 day simple moving average of $19.48.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.02. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $318.00 million. Annaly Capital Management had a negative net margin of 12.02% and a positive return on equity of 15.24%. During the same period in the prior year, the business earned $0.72 earnings per share. On average, equities research analysts anticipate that Annaly Capital Management, Inc. will post 2.67 EPS for the current fiscal year.

Annaly Capital Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.60 annualized dividend and a yield of 12.99%. Annaly Capital Management’s dividend payout ratio is presently -268.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Compass Point upped their price objective on shares of Annaly Capital Management from $22.00 to $23.50 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com downgraded shares of Annaly Capital Management from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of Annaly Capital Management from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Janney Montgomery Scott initiated coverage on Annaly Capital Management in a research note on Thursday, June 6th. They set a “buy” rating and a $21.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Insiders Place Their Bets

In other news, CEO David L. Finkelstein sold 50,000 shares of Annaly Capital Management stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the transaction, the chief executive officer now owns 612,469 shares in the company, valued at $12,280,003.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Annaly Capital Management Company 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.