UBS upgrades outlook for Annaly Capital Management, sees 6.92% upside

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.

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