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Institutional investors boost stakes in Annaly Capital, a firm with strong earnings and a hefty dividend.
Institutional investor Cannell & Spears LLC and South Korean firm KIC have both increased their stakes in Annaly Capital Management, Inc. (NYSE:NLY).
Cannell & Spears now owns 41,268 shares, while KIC's holdings rose by 93,400 shares to 288,982.
Annaly Capital Management, a diversified mortgage finance company, recently reported strong quarterly earnings and has a "Moderate Buy" consensus rating with a $21.44 target price.
The company will pay a quarterly dividend of $0.70 on April 30th to shareholders of record on March 31st.
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