Cadence Capital Management LLC Lowers Holdings in Annaly Capital Management, Inc. (NLY)
Cadence Capital Management LLC lowered its holdings in shares of Annaly Capital Management, Inc. (NYSE:NLY) by 36.2% in the 4th quarter, Holdings Channel reports. The firm owned 75,146 shares of the real estate investment trust’s stock after selling 42,605 shares during the quarter. Cadence Capital Management LLC’s holdings in Annaly Capital Management were worth $893,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. bought a new position in Annaly Capital Management during the third quarter valued at $100,000. Advisory Services Network LLC lifted its position in Annaly Capital Management by 9.0% during the second quarter. Advisory Services Network LLC now owns 9,757 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 806 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in Annaly Capital Management during the third quarter valued at $122,000. Advisor Partners LLC bought a new position in Annaly Capital Management during the fourth quarter valued at $122,000. Finally, Garrison Bradford & Associates Inc. bought a new position in Annaly Capital Management during the fourth quarter valued at $125,000. Institutional investors and hedge funds own 55.49% of the company’s stock.
Several equities analysts have commented on NLY shares. ValuEngine lowered shares of Annaly Capital Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 26th. Bank of America upgraded shares of Annaly Capital Management from an “underperform” rating to a “neutral” rating in a research report on Thursday, February 1st. Finally, Zacks Investment Research lowered shares of Annaly Capital Management from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Annaly Capital Management has a consensus rating of “Buy” and an average price target of $12.21.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th were issued a $0.30 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.20 annualized dividend and a dividend yield of 11.65%. Annaly Capital Management’s dividend payout ratio (DPR) is presently 48.00%.
In other news, Chairman Wellington Denahan bought 125,280 shares of the stock in a transaction dated Thursday, December 7th. The stock was purchased at an average price of $11.97 per share, for a total transaction of $1,499,601.60. Following the acquisition, the chairman now owns 1,798,414 shares of the company’s stock, valued at $21,527,015.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Glenn Votek bought 25,000 shares of the stock in a transaction dated Friday, December 1st. The stock was purchased at an average price of $11.73 per share, with a total value of $293,250.00. The disclosure for this purchase can be found here. 0.43% of the stock is currently owned by company insiders.
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Annaly Capital Management Profile
Annaly Capital Management, Inc is a mortgage real estate investment trust (REIT). The Company owns a portfolio of real estate related investments. Its investment groups primarily consist of Agency, which invests primarily in various types of Agency mortgage-backed securities and related derivatives to hedge these investments; Residential credit, which invests primarily in non-Agency mortgage-backed assets within securitized products and residential mortgage loan markets; Commercial real estate, which originates and invests in commercial mortgage loans, securities, and other commercial real estate investments, and Middle market, which provides customized debt financing to middle-market businesses.
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