State of Michigan Retirement System Buys 2,800 Shares of Annaly Capital Management, Inc. (NYSE:NLY)

State of Michigan Retirement System grew its stake in Annaly Capital Management, Inc. (NYSE:NLY) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,031 shares of the real estate investment trust’s stock after purchasing an additional 2,800 shares during the period. State of Michigan Retirement System’s holdings in Annaly Capital Management were worth $2,698,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dupree Financial Group LLC bought a new stake in shares of Annaly Capital Management in the 4th quarter valued at approximately $9,222,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Annaly Capital Management by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 159,622 shares of the real estate investment trust’s stock valued at $3,092,000 after purchasing an additional 4,079 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Annaly Capital Management by 4.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 256,610 shares of the real estate investment trust’s stock valued at $4,828,000 after purchasing an additional 10,404 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Annaly Capital Management in the 4th quarter valued at approximately $2,721,000. Finally, Norges Bank bought a new stake in shares of Annaly Capital Management in the 4th quarter valued at approximately $110,244,000. 51.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NLY. StockNews.com lowered Annaly Capital Management from a “buy” rating to a “hold” rating in a research note on Wednesday. JMP Securities reissued a “market perform” rating on shares of Annaly Capital Management in a research note on Thursday, April 18th. Compass Point began coverage on Annaly Capital Management in a research note on Tuesday, April 2nd. They set a “buy” rating and a $22.00 price target for the company. Janney Montgomery Scott began coverage on Annaly Capital Management in a research note on Thursday, June 6th. They set a “buy” rating and a $21.00 price target for the company. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $21.50 price target on shares of Annaly Capital Management in a research note on Wednesday, March 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.07.

Annaly Capital Management Price Performance

Shares of NYSE NLY opened at $18.95 on Thursday. The business has a fifty day simple moving average of $19.66 and a two-hundred day simple moving average of $19.40. Annaly Capital Management, Inc. has a twelve month low of $14.52 and a twelve month high of $21.07.

Annaly Capital Management (NYSE:NLY) last issued its earnings results on Thursday, April 25th. The real estate investment trust reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. Annaly Capital Management had a positive return on equity of 15.13% and a negative net margin of 8.38%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $320.00 million. During the same period in the previous year, the company posted $0.81 EPS. As a group, sell-side analysts expect that Annaly Capital Management, Inc. will post 2.64 EPS for the current year.

Annaly Capital Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.65 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 13.72%. Annaly Capital Management’s dividend payout ratio is presently -268.04%.

About Annaly Capital Management

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.