State of Michigan Retirement System Raises Holdings in Annaly Capital Management, Inc. (NYSE:NLY)

State of Michigan Retirement System increased its holdings in Annaly Capital Management, Inc. (NYSE:NLY) by 2.1% in the 1st quarter, HoldingsChannel reports. The fund owned 137,031 shares of the real estate investment trust’s stock after purchasing an additional 2,800 shares during the quarter. State of Michigan Retirement System’s holdings in Annaly Capital Management were worth $2,698,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Dupree Financial Group LLC purchased a new position in Annaly Capital Management in the fourth quarter worth approximately $9,222,000. Nomura Asset Management Co. Ltd. lifted its stake in Annaly Capital Management by 2.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 159,622 shares of the real estate investment trust’s stock worth $3,092,000 after purchasing an additional 4,079 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in Annaly Capital Management by 4.2% during the third quarter. Royal London Asset Management Ltd. now owns 256,610 shares of the real estate investment trust’s stock worth $4,828,000 after purchasing an additional 10,404 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Annaly Capital Management during the fourth quarter worth $2,721,000. Finally, Norges Bank acquired a new position in Annaly Capital Management during the fourth quarter worth $110,244,000. 51.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Annaly Capital Management Stock Performance

Shares of NYSE NLY opened at $18.95 on Thursday. Annaly Capital Management, Inc. has a 12-month low of $14.52 and a 12-month high of $21.07. The business’s fifty day simple moving average is $19.66 and its 200-day simple moving average is $19.40.

Annaly Capital Management (NYSE:NLY) last posted its earnings results on Thursday, April 25th. The real estate investment trust reported $0.64 EPS for the quarter, meeting the consensus estimate of $0.64. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $320.00 million. Annaly Capital Management had a positive return on equity of 15.13% and a negative net margin of 8.38%. During the same quarter in the prior year, the company posted $0.81 earnings per share. On average, research analysts forecast that Annaly Capital Management, Inc. will post 2.64 earnings per share for the current fiscal year.

Annaly Capital Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 13.72%. The ex-dividend date of this dividend is Friday, June 28th. Annaly Capital Management’s dividend payout ratio (DPR) 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.