Korea Investment CORP Sells 200,500 Shares of Annaly Capital Management Inc $NLY

Korea Investment CORP lessened its holdings in Annaly Capital Management Inc (NYSE:NLY) by 59.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

A number of other institutional investors have also modified their holdings of NLY. Financial Gravity Companies Inc. bought a new position in Annaly Capital Management in the second quarter worth approximately $25,000. Delos Wealth Advisors LLC purchased a new stake in shares of Annaly Capital Management in the 2nd quarter worth $28,000. Evolution Wealth Management Inc. bought a new position in shares of Annaly Capital Management during the 2nd quarter worth $29,000. MCF Advisors LLC grew its position in shares of Annaly Capital Management by 41.6% during the 3rd quarter. MCF Advisors LLC now owns 1,688 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 496 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Annaly Capital Management during the second quarter valued at $34,000. 51.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Royal Bank Of Canada lifted 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. Weiss Ratings reissued a “hold (c)” rating on shares of Annaly Capital Management in a research report on Wednesday, January 21st. BTIG Research upgraded shares of Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday, January 6th. Barclays set a $24.00 price objective on shares of Annaly Capital Management and gave the company an “equal weight” rating in a research note on Friday, January 30th. Finally, JonesTrading lifted their price target on Annaly Capital Management from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Annaly Capital Management currently has a consensus rating of “Moderate Buy” and an average price target of $24.11.

Insiders Place Their Bets

In other Annaly Capital Management news, COO Steven Francis Campbell sold 26,491 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $22.83, for a total value of $604,789.53. Following the completion of the sale, the chief operating officer directly owned 178,000 shares in the company, valued at approximately $4,063,740. This trade represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Serena Wolfe sold 16,536 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,005,094.34. This represents a 8.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,252 shares of company stock valued at $1,639,995 in the last three months. Insiders own 0.22% of the company’s stock.

Annaly Capital Management Stock Down 2.0%

Shares of Annaly Capital Management stock opened at $22.02 on Friday. The company has a market cap of $15.82 billion, a P/E ratio of 7.92, a PEG ratio of 6.90 and a beta of 1.24. The firm’s 50 day moving average price is $23.16 and its 200-day moving average price is $22.21. Annaly Capital Management Inc has a 52-week low of $16.59 and a 52-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 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $567.67 million. Annaly Capital Management had a net margin of 34.02% and a return on equity of 15.80%. As a group, equities research analysts forecast that Annaly Capital Management Inc will post 2.81 EPS for the current fiscal year.

Annaly Capital Management Dividend Announcement

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

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.