Janney Montgomery Scott Initiates Coverage of Annaly Capital Management (NLY) with Buy Recommendation

Fintel reports that on June 6, 2024, Janney Montgomery Scott initiated coverage of Annaly Capital Management (NYSE:NLY) with a Buy recommendation.

Analyst Price Forecast Suggests 4.92% Upside

As of June 1, 2024, the average one-year price target for Annaly Capital Management is 20.88. The forecasts range from a low of 19.19 to a high of $23.10. The average price target represents an increase of 4.92% from its latest reported closing price of 19.90.

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The projected annual revenue for Annaly Capital Management is 3,818MM. The projected annual non-GAAP EPS is 3.36.

What is the Fund Sentiment?

There are 918 funds or institutions reporting positions in Annaly Capital Management. This is an increase of 7 owner(s) or 0.77% in the last quarter. Average portfolio weight of all funds dedicated to NLY is 0.21%, an increase of 14.82%. Total shares owned by institutions decreased in the last three months by 2.61% to 282,963K shares. The put/call ratio of NLY is 0.74, indicating a bullish outlook.

What are Other Shareholders Doing?

Allspring Global Investments Holdings holds 17,449K shares representing 3.49% ownership of the company. In its prior filing, the firm reported owning 17,171K shares , representing an increase of 1.60%. The firm decreased its portfolio allocation in NLY by 2.71% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 15,739K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 15,852K shares , representing a decrease of 0.72%. The firm decreased its portfolio allocation in NLY by 7.99% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 15,569K shares representing 3.11% ownership of the company. In its prior filing, the firm reported owning 15,181K shares , representing an increase of 2.49%. The firm decreased its portfolio allocation in NLY by 6.16% over the last quarter.

WFMDX - Wells Fargo Special Mid Cap Value Fund Administrator Class holds 14,219K shares representing 2.84% ownership of the company. In its prior filing, the firm reported owning 13,982K shares , representing an increase of 1.67%. The firm decreased its portfolio allocation in NLY by 3.62% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 12,759K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 12,726K shares , representing an increase of 0.27%. The firm decreased its portfolio allocation in NLY by 6.10% 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.

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This story originally appeared on Fintel.

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