Korea Investment CORP Decreases Stake in Annaly Capital Management Inc $NLY

Korea Investment CORP cut its stake in shares of Annaly Capital Management Inc (NYSE:NLY) by 59.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 136,882 shares of the real estate investment trust’s stock after selling 200,500 shares during the quarter. Korea Investment CORP’s holdings in Annaly Capital Management were worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Annaly Capital Management during the 3rd quarter worth about $1,498,000. Chapman Financial Group LLC raised its stake in shares of Annaly Capital Management by 16.0% in the third quarter. Chapman Financial Group LLC now owns 40,992 shares of the real estate investment trust’s stock worth $828,000 after purchasing an additional 5,642 shares during the last quarter. Left Brain Wealth Management LLC raised its stake in shares of Annaly Capital Management by 104.6% in the third quarter. Left Brain Wealth Management LLC now owns 50,430 shares of the real estate investment trust’s stock worth $1,019,000 after purchasing an additional 25,782 shares during the last quarter. Solstein Capital LLC acquired a new stake in shares of Annaly Capital Management during the third quarter worth about $310,000. Finally, Orion Porfolio Solutions LLC boosted its position in Annaly Capital Management by 20.4% in the third quarter. Orion Porfolio Solutions LLC now owns 24,459 shares of the real estate investment trust’s stock valued at $494,000 after buying an additional 4,146 shares during the last quarter. 51.56% of the stock is owned by institutional investors and hedge funds.

Annaly Capital Management Stock Performance

NLY opened at $22.02 on Friday. The company has a fifty day moving average of $23.16 and a two-hundred day moving average of $22.21. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 6.90 and a beta of 1.24. Annaly Capital Management Inc has a fifty-two week low of $16.59 and a fifty-two week high of $24.52.

Annaly Capital Management (NYSE:NLY) last posted its earnings results on Wednesday, January 28th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. Annaly Capital Management had a net margin of 34.02% and a return on equity of 15.80%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $567.67 million. On average, equities research analysts forecast that Annaly Capital Management Inc will post 2.81 earnings per share for the current year.

Annaly Capital Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.80 dividend on an annualized basis and a yield of 12.7%. Annaly Capital Management’s dividend payout ratio is currently 100.72%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NLY shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a report on Wednesday, January 21st. Argus raised shares of Annaly Capital Management to a “strong-buy” rating in a report on Thursday, February 5th. Barclays set a $24.00 price objective on shares of Annaly Capital Management and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods upped their price target on shares of Annaly Capital Management from $23.25 to $25.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada boosted their price objective on Annaly Capital Management from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.11.

Insider Activity at Annaly Capital Management

In other news, CFO Serena Wolfe sold 16,536 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $23.14, for a total value of $382,643.04. Following the completion of the sale, the chief financial officer directly owned 173,081 shares in the company, valued at $4,005,094.34. The trade was a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Steven Francis Campbell sold 26,491 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $22.83, for a total value of $604,789.53. Following the transaction, the chief operating officer directly owned 178,000 shares of the company’s stock, valued at approximately $4,063,740. The trade was a 12.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 71,252 shares of company stock worth $1,639,995. 0.22% of the stock is owned by corporate insiders.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc is a publicly traded real estate investment trust (REIT) that specializes in generating income through investment in mortgage-related assets. The company’s core business activities include the acquisition, financing, and management of a diversified portfolio of agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other real estate debt instruments. Annaly seeks to profit from the spread between the interest earned on its mortgage investments and its cost of funds, as well as from capital gains realized through active portfolio management.

Founded in 1997 and headquartered in New York City, Annaly has grown to become one of the largest mortgage REITs in the United States.