Confluence Investment Management LLC Purchases Shares of 60,648 Annaly Capital Management, Inc. (NYSE:NLY)

Confluence Investment Management LLC acquired a new position in shares of Annaly Capital Management, Inc. (NYSE:NLY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,648 shares of the real estate investment trust’s stock, valued at approximately $1,110,000.

Several other hedge funds also recently modified their holdings of NLY. JPMorgan Chase & Co. grew its position in Annaly Capital Management by 21.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,057,037 shares of the real estate investment trust’s stock worth $61,355,000 after acquiring an additional 541,869 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Annaly Capital Management by 16.2% in the third quarter. Franklin Resources Inc. now owns 92,039 shares of the real estate investment trust’s stock valued at $1,820,000 after buying an additional 12,809 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Annaly Capital Management by 11.7% in the third quarter. Tidal Investments LLC now owns 13,204 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 1,385 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Annaly Capital Management in the third quarter valued at about $114,000. Finally, Virtu Financial LLC acquired a new position in Annaly Capital Management during the 3rd quarter worth about $879,000. Institutional investors and hedge funds own 51.56% of the company’s stock.

Annaly Capital Management Stock Performance

Shares of Annaly Capital Management stock opened at $18.38 on Friday. The firm has a fifty day moving average of $19.40 and a two-hundred day moving average of $19.76. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of -262.57 and a beta of 1.51. Annaly Capital Management, Inc. has a 52 week low of $17.67 and a 52 week high of $21.11.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $212.00 million. Annaly Capital Management had a net margin of 2.59% and a return on equity of 14.75%. During the same quarter in the prior year, the company posted $0.66 EPS. As a group, research analysts forecast that Annaly Capital Management, Inc. will post 2.65 EPS for the current fiscal year.

Annaly Capital Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 14.15%. The ex-dividend date of this dividend is Tuesday, December 31st. Annaly Capital Management’s payout ratio is -3,714.29%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NLY. Argus raised shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. dropped their price objective on shares of Annaly Capital Management from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Finally, Wells Fargo & Company upgraded Annaly Capital Management from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $19.00 to $23.00 in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.50.

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.