Bank of Montreal Can Trims Stock Holdings in Annaly Capital Management, Inc. (NYSE:NLY)

Bank of Montreal Can reduced its position in Annaly Capital Management, Inc. (NYSE:NLY) by 33.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,423 shares of the real estate investment trust’s stock after selling 38,556 shares during the quarter. Bank of Montreal Can’s holdings in Annaly Capital Management were worth $1,514,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Evergreen Capital Management LLC grew its position in Annaly Capital Management by 38.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 16,778 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 4,644 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Annaly Capital Management during the second quarter worth about $478,000. Summit Trail Advisors LLC acquired a new position in Annaly Capital Management in the 2nd quarter valued at about $286,000. Thrivent Financial for Lutherans raised its stake in Annaly Capital Management by 88.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 284,929 shares of the real estate investment trust’s stock valued at $5,431,000 after acquiring an additional 133,429 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Annaly Capital Management by 13.0% during the 2nd quarter. Sei Investments Co. now owns 875,593 shares of the real estate investment trust’s stock worth $16,688,000 after acquiring an additional 100,940 shares during the period. 51.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NLY. JMP Securities reissued a “market perform” rating on shares of Annaly Capital Management in a report on Wednesday, August 28th. JPMorgan Chase & Co. raised their target price on shares of Annaly Capital Management from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. StockNews.com downgraded shares of Annaly Capital Management from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Company upgraded shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $23.00 in a research report on Friday, September 20th. Finally, Compass Point boosted their target price on Annaly Capital Management from $22.00 to $23.50 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.38.

Insider Buying and Selling at Annaly Capital Management

In other news, CEO David L. Finkelstein sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 612,469 shares of the company’s stock, valued at $12,280,003.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.

Annaly Capital Management Price Performance

NLY opened at $19.64 on Friday. Annaly Capital Management, Inc. has a 1-year low of $14.52 and a 1-year high of $21.11. The stock has a market cap of $9.83 billion, a P/E ratio of -20.24 and a beta of 1.52. The stock’s 50 day simple moving average is $20.12 and its 200 day simple moving average is $19.72.

Annaly Capital Management (NYSE:NLY) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $318.00 million. Annaly Capital Management had a positive return on equity of 15.24% and a negative net margin of 12.02%. During the same quarter in the prior year, the company earned $0.72 earnings per share. Research analysts expect 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 will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 13.24%. The ex-dividend date of this dividend is Monday, September 30th. Annaly Capital Management’s payout ratio is currently -268.04%.

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.