Korea Investment CORP Decreases Stock Position in Annaly Capital Management Inc $NLY

Korea Investment CORP cut its position in Annaly Capital Management Inc (NYSE:NLY) by 75.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,990 shares of the real estate investment trust’s stock after selling 284,592 shares during the period. Korea Investment CORP’s holdings in Annaly Capital Management were worth $2,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NLY. Horizon Investments LLC acquired a new position in Annaly Capital Management during the fourth quarter worth about $7,946,000. Vanguard Group Inc. raised its holdings in Annaly Capital Management by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock valued at $1,422,401,000 after acquiring an additional 3,024,564 shares during the last quarter. DNB Asset Management AS lifted its stake in Annaly Capital Management by 165.4% in the 4th quarter. DNB Asset Management AS now owns 336,067 shares of the real estate investment trust’s stock worth $7,514,000 after purchasing an additional 209,435 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Annaly Capital Management by 3.9% during the 4th quarter. Legal & General Group Plc now owns 1,984,768 shares of the real estate investment trust’s stock worth $44,379,000 after purchasing an additional 74,074 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Annaly Capital Management in the fourth quarter valued at approximately $162,477,000. 51.56% of the stock is currently owned by hedge funds and other institutional investors.

Annaly Capital Management Stock Up 0.5%

NYSE:NLY opened at $23.27 on Tuesday. Annaly Capital Management Inc has a 52 week low of $20.00 and a 52 week high of $24.52. The stock’s fifty day moving average is $22.81 and its two-hundred day moving average is $22.38. The company has a market capitalization of $17.54 billion, a P/E ratio of 5.83, a P/E/G ratio of 6.05 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $639.80 million. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%. Sell-side analysts anticipate that Annaly Capital Management Inc will post 3.09 earnings per share for the current fiscal year.

Annaly Capital Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a dividend of $0.75 per share. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date was Tuesday, June 30th. Annaly Capital Management’s dividend payout ratio (DPR) is 75.19%.

Analysts Set New Price Targets

NLY has been the topic of a number of recent research reports. Zacks Research raised Annaly Capital Management from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Piper Sandler lifted their price target on Annaly Capital Management from $24.50 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Wells Fargo & Company dropped their price objective on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Annaly Capital Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.33.

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.