Published Sep 18, 2023 05:14PM ET
On Monday, UBS upgraded its outlook for Annaly Capital Management (NYSE:NLY) from Neutral to Buy, as reported by Fintel. The upgrade comes in light of the average one-year price target for Annaly Capital Management being pegged at $21.99 as of August 31, 2023, suggesting a potential upside of 6.92% from its last reported closing price of $20.57.
The projected annual revenue for Annaly Capital Management is set at $3,394 million, with a projected annual non-GAAP EPS of 3.52. The company's principal business objective is to generate net income for distribution to its stockholders and optimize returns through prudent management of diversified investment strategies.
In terms of fund sentiment, there are 903 funds or institutions reporting positions in Annaly Capital Management, marking a decrease of 1.42% from the last quarter. However, the average portfolio weight dedicated to NLY rose by 5.84%. The total shares owned by institutions decreased by 2.50% to 274,767K shares over the past three months.
Several institutional shareholders have increased their stakes in the company over the last quarter. Allspring Global Investments Holdings now holds 16,542K shares, representing a 3.35% ownership stake in the company and marking an increase of 7.58%. Other major shareholders include VTSMX – Vanguard Total Stock Market Index Fund Investor Shares and IJH – iShares Core S&P Mid-Cap ETF, both of which have also increased their portfolio allocations in NLY.
Annaly Capital Management is a leading diversified capital manager that invests in and finances residential and commercial assets. The company is internally managed and has elected to be taxed as a real estate investment trust (REIT) for federal income tax purposes.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.