Meritage Portfolio Management Invests $3.04 Million in Annaly Capital Management, Inc. (NYSE:NLY)

Meritage Portfolio Management bought a new stake in Annaly Capital Management, Inc. (NYSE:NLY - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 151,589 shares of the real estate investment trust's stock, valued at approximately $3,042,000.

A number of other institutional investors have also recently added to or reduced their stakes in NLY. Allspring Global Investments Holdings LLC raised its position in shares of Annaly Capital Management by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 17,990,064 shares of the real estate investment trust's stock valued at $361,061,000 after purchasing an additional 1,342,056 shares during the period. Bank of New York Mellon Corp raised its position in shares of Annaly Capital Management by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 4,092,118 shares of the real estate investment trust's stock valued at $77,996,000 after purchasing an additional 41,069 shares during the period. Van ECK Associates Corp raised its position in shares of Annaly Capital Management by 19.2% in the third quarter. Van ECK Associates Corp now owns 1,912,803 shares of the real estate investment trust's stock valued at $37,395,000 after purchasing an additional 308,618 shares during the period. Victory Capital Management Inc. raised its position in shares of Annaly Capital Management by 2.6% in the second quarter. Victory Capital Management Inc. now owns 1,864,655 shares of the real estate investment trust's stock valued at $35,540,000 after purchasing an additional 47,116 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Annaly Capital Management by 454.6% in the first quarter. Cetera Investment Advisers now owns 1,010,542 shares of the real estate investment trust's stock valued at $19,898,000 after purchasing an additional 828,325 shares during the period. 51.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Annaly Capital Management

In related news, CEO David L. Finkelstein sold 50,000 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $20.05, for a total value of $1,002,500.00. Following the sale, the chief executive officer now directly owns 612,469 shares in the company, valued at $12,280,003.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.

Annaly Capital Management Price Performance

Annaly Capital Management stock traded up $0.01 during mid-day trading on Monday, hitting $19.84. 5,704,498 shares of the company's stock traded hands, compared to its average volume of 4,219,462. The firm has a 50 day simple moving average of $19.91 and a two-hundred day simple moving average of $19.83. Annaly Capital Management, Inc. has a fifty-two week low of $16.76 and a fifty-two week high of $21.11. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of -283.36 and a beta of 1.52.

Annaly Capital Management (NYSE:NLY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $212.00 million. Annaly Capital Management had a return on equity of 14.75% and a net margin of 2.59%. During the same quarter in the previous year, the business earned $0.66 EPS. On average, research analysts anticipate that Annaly Capital Management, Inc. will post 2.65 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 13.11%. The ex-dividend date was Monday, September 30th. Annaly Capital Management's dividend payout ratio (DPR) is presently -3,714.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NLY shares. StockNews.com lowered shares of Annaly Capital Management from a "buy" rating to a "hold" rating in a research report on Thursday, July 25th. Argus raised shares of Annaly Capital Management from a "hold" rating to a "buy" rating and set a $21.00 target price on the stock in a research report on Thursday, October 31st. Wells Fargo & Company raised shares of Annaly Capital Management from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $19.00 to $23.00 in a research report on Friday, September 20th. JMP Securities reaffirmed a "market perform" rating on shares of Annaly Capital Management in a research report on Wednesday, August 28th. Finally, Compass Point boosted their target price 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. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.33.

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.