Korea Investment CORP Has $6.34 Million Stake in Annaly Capital Management Inc $NLY

Key Points

• Korea Investment CORP increased its stake in Annaly Capital Management Inc by 8.0%, acquiring an additional 23,100 shares to total 312,082 shares worth approximately $6.34 million.
• The company recently declared a quarterly dividend of $0.70 per share, resulting in an annualized yield of 13.2% and demonstrating a high dividend payout ratio of 277.23%.
• Annaly Capital Management reported a quarterly earnings per share of $0.73, surpassing estimates, with total revenue hitting $273.20 million compared to an expected $237 million.

Korea Investment CORP increased its holdings in shares of Annaly Capital Management Inc (NYSE:NLY - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 312,082 shares of the real estate investment trust's stock after acquiring an additional 23,100 shares during the quarter. Korea Investment CORP owned about 0.05% of Annaly Capital Management worth $6,338,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Bayesian Capital Management LP bought a new position in Annaly Capital Management in the 4th quarter valued at about $730,000. Mercer Global Advisors Inc. ADV bought a new position in Annaly Capital Management in the 4th quarter valued at about $4,448,000. The Manufacturers Life Insurance Company increased its holdings in Annaly Capital Management by 9.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 459,935 shares of the real estate investment trust's stock valued at $8,417,000 after buying an additional 40,963 shares during the period. Diversified Trust Co bought a new position in Annaly Capital Management in the 1st quarter valued at about $466,000. Finally, Bessemer Group Inc. increased its holdings in Annaly Capital Management by 11.7% in the 1st quarter. Bessemer Group Inc. now owns 7,731 shares of the real estate investment trust's stock valued at $157,000 after buying an additional 811 shares during the period. 51.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jones Trading reissued a "buy" rating and issued a $21.00 target price on shares of Annaly Capital Management in a report on Thursday, July 24th. UBS Group reaffirmed a "neutral" rating and set a $20.00 price target (up from $18.00) on shares of Annaly Capital Management in a report on Thursday, July 10th. Zacks Research lowered shares of Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Keefe, Bruyette & Woods lifted their price target on shares of Annaly Capital Management from $20.50 to $21.50 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Piper Sandler decreased their price target on shares of Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $20.72.

Annaly Capital Management Trading Down 0.3%

NYSE:NLY traded down $0.06 during mid-day trading on Thursday, hitting $20.92. 1,007,091 shares of the company's stock were exchanged, compared to its average volume of 7,669,136. The company has a 50 day simple moving average of $20.13 and a 200-day simple moving average of $19.96. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. Annaly Capital Management Inc has a fifty-two week low of $16.59 and a fifty-two week high of $22.11. The firm has a market capitalization of $13.43 billion, a P/E ratio of 20.69, a PEG ratio of 5.00 and a beta of 1.20.

Annaly Capital Management (NYSE:NLY - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Annaly Capital Management had a net margin of 13.76% and a return on equity of 15.53%. The business had revenue of $273.20 million for the quarter, compared to the consensus estimate of $237.00 million. As a group, research analysts expect that Annaly Capital Management Inc will post 2.81 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a $0.70 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 13.4%. Annaly Capital Management's payout ratio is 277.23%.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.