Recent regulatory filings reveal that senior executives at Annaly Capital Management, a leading mortgage real estate investment trust (REIT), have sold company shares worth more than $2 million. The transactions, involving the Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer, occurred within a 48-hour window. This activity prompts an examination of its context and the company’s concurrent strategic focus.
Understanding the Sales Through Pre-Arranged Plans
A critical detail for investors is that these disposals were not spontaneous. According to documents filed with the Securities and Exchange Commission (SEC), all sales were executed under pre-established 10b5-1 trading plans. These plans were adopted in November 2025, scheduling automatic sales at predetermined future dates. Corporations and their officers frequently utilize such mechanisms to facilitate personal financial planning for tax and estate purposes while establishing a clear defense against potential allegations of insider trading.
The specific transactions last Wednesday saw three top managers sell a combined total of nearly 95,000 shares. David L. Finkelstein, serving as CEO and Co-Chief Investment Officer, divested the largest block: 50,000 shares at an average price of $23.13, generating proceeds of approximately $1.15 million. President Steven Campbell and CFO Serena Wolfe also reduced their holdings, with their collective sales amounting to about $1 million.
Dividend Strategy Remains a Clear Priority
Alongside these management transactions, Annaly has confirmed its distribution schedule for the first quarter of 2026. The company will pay dividends on its various series of preferred stock on March 31. Shareholders of record as of March 2 will be eligible to receive these payments.
Should investors sell immediately? Or is it worth buying Annaly Capital Management?
The current capital structure is notably influenced by variable interest rates. The Series F, G, and I preferred shares are linked to the 3-Month CME Term SOFR, resulting in payouts ranging between $0.50 and $0.56 per share. This commitment to preferred dividends appears to be a strategic focus, especially as a share repurchase program announced in January 2025 has seen limited use to date.
Market Perspective and Forward Calendar
Annaly Capital Management’s stock concluded trading on Friday at $23.02. Despite the insider selling activity, the consensus view among market analysts remains a “Moderate Buy” rating. The current average price target sits at $24.11.
For income-focused investors, the immediate key date is March 2, the record date for the upcoming preferred dividend distributions. The actual payment at the end of the month will serve as an indicator of the resilience of Annaly’s income strategy within a climate of interest rate volatility.
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