BlackRock Fund Advisors recently announced the acquisition of new stake in Annaly Capital Management Inc. (NYSE:NLY). The institutional investor has increased its shareholding in the Real Estate company by 80.87% to 43.71 million shares with purchase of 19.54 million shares. This fresh investment now brings its stake to 9.34% valued currently at $921.41 million. In addition, The Vanguard Group, Inc. raised its holdings by 5.04 million to 40.2 million shares. And Allspring Global Investments LLC has lifted its position by 0.50% or 71895.0 shares – to 14.38 million shares.
With over 5.57 million Annaly Capital Management Inc. (NLY) shares trading Monday and a closing price of $22.99 on the day, the dollar volume was approximately $127.97 million. The shares have shown a negative half year performance of -12.25% and its price on 02/06/23 lost nearly -3.20%. Currently, there are 467.87M common shares owned by the public and among those 466.27M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for NLY have a consensus price objective of $22.13. The analysts have set the share’s price value over the next 12 months at a high of $24.50 and a low of $18.50. The average price target is -4.36% below its recent price level and a downside to the estimated low will see the stock lose -24.27% over that period. But an upside of 6.16% will see the stock hit the forecast high price target while median target price for the stock is $22.38.
Insiders at the company have transacted a total of 9 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 288,624 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 103,998 shares.
The top 3 mutual fund holders in Annaly Capital Management Inc. are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Allspring Special Mid Cap Value F. iShares Core S&P Mid Cap ETF owns 14.43 million shares of the company’s stock, all valued at over $304.28 million. The company sold 2749.0 shares recently to bring their total holdings to about 3.09% of the shares outstanding. Vanguard Total Stock Market Index bought 1.07 million shares to see its total holdings expand to 14.18 million shares valued at over $299.0 million and representing 3.03% of the shares outstanding. Allspring Special Mid Cap Value F bought 63700.0 shares to bring its total holdings to over 11.24 million shares at a value of $236.91 million. Allspring Special Mid Cap Value F now owns shares totaling to 2.40% of the shares outstanding.
Shares of Annaly Capital Management Inc. (NYSE: NLY) opened at $23.50, down -$0.25 from a prior closing price of $23.75. However, the script later moved the day high at 23.58, down -3.20%. The company’s stock has a 5-day price change of 0.39% and 30.55% over the past three months. NLY shares are trading 9.06% year to date (YTD), with the 12-month market performance down to -24.57% lower. It has a 12-month low price of $15.11 and touched a high of $31.12 over the same period. NLY has an average intraday trading volume of 6.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.77%, 4.01%, and -1.20% respectively.
Institutional ownership of Annaly Capital Management Inc. (NYSE: NLY) shares accounts for 55.40% of the company’s 467.87M shares outstanding. Mutual fund holders own 22.51%, while other institutional holders and individual stakeholders account for 32.58% and 0.12% respectively.
It has a market capitalization of $10.92B and a beta (3y monthly) value of 1.42. The stock’s trailing 12-month PE ratio is 2.86, while the earnings-per-share (ttm) stands at $8.03. The company has a debt-to-equity ratio at 6.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.37% over the week and 2.90% over the month.
Analysts forecast that Annaly Capital Management Inc. (NLY) will achieve an EPS of $0.92 for the current quarter, $0.89 for the next quarter and $3.66 for 2023. The lowest estimate earnings-per-share for the quarter is $0.84 while analysts give the company a high EPS estimate of $1. Comparatively, EPS for the current quarter was $1.12 a year ago. Earnings per share for the fiscal year are expected to increase by 318.80%, and -18.10% over the next financial year. EPS should shrink at an annualized rate of -4.98% over the next five years, compared to 2.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Annaly Capital Management Inc. (NLY) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 7 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NLY, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on October 27, 2022, with the firm’s price target at $6-$19. Keefe Bruyette coverage for the Annaly Capital Management Inc. (NLY) stock in a research note released on June 09, 2022 offered a Outperform rating with a price target of $6.75. Barclays on their part issued Equal Weight rating on October 29, 2021.
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