UBS Upgrades Annaly Capital Management

Fintel reports that on September 18, 2023, UBS upgraded their outlook for Annaly Capital Management (NYSE:NLY) from Neutral to Buy.

Analyst Price Forecast Suggests 6.92% Upside

As of August 31, 2023, the average one-year price target for Annaly Capital Management is 21.99. The forecasts range from a low of 20.70 to a high of $25.20. The average price target represents an increase of 6.92% from its latest reported closing price of 20.57.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Annaly Capital Management is 3,394MM. The projected annual non-GAAP EPS is 3.52.

What is the Fund Sentiment?

There are 903 funds or institutions reporting positions in Annaly Capital Management. This is a decrease of 13 owner(s) or 1.42% in the last quarter. Average portfolio weight of all funds dedicated to NLY is 0.21%, an increase of 5.84%. Total shares owned by institutions decreased in the last three months by 2.50% to 274,767K shares. The put/call ratio of NLY is 0.47, indicating a bullish outlook.

What are Other Shareholders Doing?

Allspring Global Investments Holdings holds 16,542K shares representing 3.35% ownership of the company. In it’s prior filing, the firm reported owning 15,288K shares, representing an increase of 7.58%. The firm increased its portfolio allocation in NLY by 13.74% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 15,395K shares representing 3.12% ownership of the company. In it’s prior filing, the firm reported owning 15,250K shares, representing an increase of 0.95%. The firm decreased its portfolio allocation in NLY by 2.47% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 14,983K shares representing 3.03% ownership of the company. In it’s prior filing, the firm reported owning 14,447K shares, representing an increase of 3.57%. The firm increased its portfolio allocation in NLY by 4.01% over the last quarter.

WFMDX – Wells Fargo Special Mid Cap Value Fund Administrator Class holds 13,336K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 12,580K shares, representing an increase of 5.67%. The firm increased its portfolio allocation in NLY by 4.90% over the last quarter.

Geode Capital Management holds 8,460K shares representing 1.71% ownership of the company. In it’s prior filing, the firm reported owning 7,829K shares, representing an increase of 7.45%. The firm increased its portfolio allocation in NLY by 2.28% over the last quarter.

Annaly Capital Management Background Information
(This description is provided by the company.)

Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. Annaly’s principal business objective is to generate net income for distribution to its stockholders and to optimize its returns through prudent management of its diversified investment strategies. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes.

This article originally appeared on Fintel