Annaly Capital Management (NYSE:NLY) Stock Rating Upgraded by Wells Fargo & Company

Annaly Capital Management (NYSE:NLY) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Friday, Briefing.com reports. The firm presently has a $23.00 target price on the real estate investment trust’s stock, up from their prior target price of $19.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 10.60% from the company’s previous close.

A number of other equities analysts have also recently issued reports on NLY. Compass Point upped their price target on shares of Annaly Capital Management from $22.00 to $23.50 and gave the stock a “buy” rating in a research note on Friday, July 26th. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised their price target 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 shares of Annaly Capital Management from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Janney Montgomery Scott started coverage on Annaly Capital Management in a research note on Thursday, June 6th. They set a “buy” rating and a $21.00 target price on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.38.

Annaly Capital Management Stock Performance

Shares of NYSE NLY opened at $20.80 on Friday. The company has a 50 day simple moving average of $20.10 and a two-hundred day simple moving average of $19.67. Annaly Capital Management has a fifty-two week low of $14.52 and a fifty-two week high of $21.11. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of -21.44 and a beta of 1.52.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Annaly Capital Management had a positive return on equity of 15.24% and a negative net margin of 12.02%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $318.00 million. During the same quarter last year, the company earned $0.72 EPS. On average, analysts forecast 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 other Annaly Capital Management news, CEO David L. Finkelstein sold 50,000 shares of the business’s stock in a transaction dated 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 directly owns 612,469 shares in the company, valued at approximately $12,280,003.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Annaly Capital Management

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Core Wealth Advisors Inc. raised its stake in shares of Annaly Capital Management by 222.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 1,450 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 1,000 shares during the period. Rise Advisors LLC purchased a new position in Annaly Capital Management during the first quarter valued at approximately $29,000. Quarry LP purchased a new stake in shares of Annaly Capital Management in the second quarter worth $36,000. Register Financial Advisors LLC purchased a new stake in shares of Annaly Capital Management in the first quarter worth $37,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Annaly Capital Management by 107.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,077 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,076 shares during the period. 51.56% of the stock is currently owned by hedge funds and other institutional investors.

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.