The Vanguard Group, Inc. 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 0.85% to 46.71 million shares with purchase of 0.39 million shares. This fresh investment now brings its stake to 9.46% valued currently at $878.61 million. In addition, BlackRock Fund Advisors raised its holdings by 0.88 million to 45.89 million shares. And Allspring Global Investments LLC has lifted its position by 1.88% or 0.31 million shares – to 16.79 million shares.
With over 5.74 million Annaly Capital Management Inc (NLY) shares trading Tuesday and a closing price of $17.70 on the day, the dollar volume was approximately $101.61 million. The shares have shown a negative half year performance of -5.09% and its price on 11/14/23 gained nearly 3.39%. Currently, there are 500.09M common shares owned by the public and among those 498.56M 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: 10 analysts who have offered their price forecasts for NLY have a consensus price objective of $17.29. The analysts have set the share’s price value over the next 12 months at a high of $18.00 and a low of $16.00. The average price target is -2.37% below its recent price level and a downside to the estimated low will see the stock lose -10.62% over that period. But an upside of 1.67% will see the stock hit the forecast high price target while median target price for the stock is $18.00.
Insiders at the company have transacted a total of 30 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 495,606 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 196,289 shares.
The top 3 mutual fund holders in Annaly Capital Management Inc are Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Allspring Special Mid Cap Value F. Vanguard Total Stock Market ETF owns 15.42 million shares of the company’s stock, all valued at over $290.05 million. The company bought an additional 44355.0 shares recently to bring their total holdings to about 3.12% of the shares outstanding. Allspring Special Mid Cap Value F now owns shares totaling to 2.81% of the shares outstanding.
Shares of Annaly Capital Management Inc (NYSE: NLY) opened at $17.75, up $0.63 from a prior closing price of $17.12. However, the script later moved the day high at 17.94, up 3.39%. The company’s stock has a 5-day price change of 2.02% and -7.67% over the past three months. NLY shares are trading -16.03% year to date (YTD), with the 12-month market performance down to -17.83% lower. It has a 12-month low price of $14.52 and touched a high of $24.80 over the same period. NLY has an average intraday trading volume of 4.63 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 8.05%, -1.96%, and -8.90% respectively.
Institutional ownership of Annaly Capital Management Inc (NYSE: NLY) shares accounts for 52.01% of the company’s 500.09M shares outstanding. Mutual fund holders own 21.35%, while other institutional holders and individual stakeholders account for 31.43% and 0.30% respectively.
It has a market capitalization of $8.85B and a beta (3y monthly) value of 1.49. The earnings-per-share (ttm) stands at -$4.70. The company has a debt-to-equity ratio at 7.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.30% over the week and 3.10% over the month.
Analysts forecast that Annaly Capital Management Inc (NLY) will achieve an EPS of $0.65 for the current quarter, $0.65 for the next quarter and $2.72 for 2024. The lowest estimate earnings-per-share for the quarter is $0.6 while analysts give the company a high EPS estimate of $0.7. Comparatively, EPS for the current quarter was $0.89 a year ago. Earnings per share for the fiscal year are expected to decrease by -31.49%, and -7.67% over the next financial year. EPS should grow at an annualized rate of -4.98% over the next five years, compared to -6.47% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Annaly Capital Management Inc (NLY) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 5 of the 10 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. UBS stated their Buy rating for the stock in a research note on September 18, 2023, with the firm’s price target at $21-$24.
