Annaly, AGNC Investment upped, Claros, ACRE, Velocity cut at Wells Fargo
Wells Fargo upgraded Annaly Capital Management (NYSE:NLY) and AGNC Investment (NASDAQ:AGNC) to Overweight and downgraded Ares Commercial Real Estate (NYSE:ACRE), Claros Mortgage Trust (NYSE:CMTG), and Velocity Financial (NYSE:VEL) to Underweight as analyst Donald Fandetti assessed the impact of the Federal Reserve's 50-basis point rate cut on