Annaly Capital Management (NYSE:NLY) Upgraded to Overweight at Wells Fargo & Company

Annaly Capital Management (NYSE:NLY) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Friday, MarketBeat reports. The brokerage presently has a $23.00 target price on the real estate investment trust’s stock, up from their previous target price of $19.00. Wells Fargo & Company‘s price target suggests a potential upside of 10.15% from the stock’s current price.

Several other equities analysts have also recently commented on NLY. JPMorgan Chase & Co. boosted their target price on shares of Annaly Capital Management from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. StockNews.com lowered Annaly Capital Management from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Janney Montgomery Scott began coverage on shares of Annaly Capital Management in a report on Thursday, June 6th. They set a “buy” rating and a $21.00 target price on the stock. Compass Point lifted their price target on shares of Annaly Capital Management from $22.00 to $23.50 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, JMP Securities reissued a “market perform” rating on shares of Annaly Capital Management in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.38.

Annaly Capital Management Stock Up 0.4 %

Annaly Capital Management stock opened at $20.88 on Friday. Annaly Capital Management has a twelve month low of $14.52 and a twelve month high of $21.11. The stock has a market cap of $10.45 billion, a P/E ratio of -21.53 and a beta of 1.52. The company’s 50-day moving average price is $20.13 and its two-hundred day moving average price is $19.69.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $318.00 million. Annaly Capital Management had a negative net margin of 12.02% and a positive return on equity of 15.24%. During the same quarter in the previous year, the company earned $0.72 EPS. Equities analysts anticipate that Annaly Capital Management will post 2.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Annaly Capital Management

In related news, CEO David L. Finkelstein sold 50,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the completion of the sale, the chief executive officer now owns 612,469 shares in the company, valued at $12,280,003.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Annaly Capital Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in NLY. Vanguard Group Inc. grew its position in Annaly Capital Management by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 49,300,019 shares of the real estate investment trust’s stock valued at $954,941,000 after buying an additional 1,619,729 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Annaly Capital Management by 1.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,449,356 shares of the real estate investment trust’s stock valued at $343,578,000 after buying an additional 278,391 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Annaly Capital Management by 159.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 6,118,940 shares of the real estate investment trust’s stock worth $118,524,000 after buying an additional 3,762,652 shares during the period. Norges Bank bought a new position in shares of Annaly Capital Management in the fourth quarter worth $110,244,000. Finally, Bank of New York Mellon Corp boosted its stake in Annaly Capital Management by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,092,118 shares of the real estate investment trust’s stock worth $77,996,000 after purchasing an additional 41,069 shares during the period. Hedge funds and other institutional investors own 51.56% of the company’s stock.

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.