Annaly Capital Management ( (NLY) ) has released its Q3 earnings. Here is a breakdown of the information Annaly Capital Management presented to its investors.
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Annaly Capital Management, Inc. is a diversified capital manager primarily engaged in mortgage finance, operating as a real estate investment trust (REIT) to generate net income for distribution to its stockholders. The company is known for its strategic investment in mortgage-backed securities and other real estate-related assets.
In its third-quarter 2025 earnings report, Annaly Capital Management reported a GAAP net income of $1.21 per average common share, with earnings available for distribution at $0.73 per share. The company achieved an economic return of 8.1% for the quarter and 11.5% year-to-date, with a book value per common share of $19.25.
Key financial highlights include a stable GAAP leverage of 7.1x and a slight decrease in economic leverage to 5.7x. The company’s total portfolio reached $97.8 billion, with significant growth in its Agency and Residential Credit portfolios. Annaly also raised $1.1 billion in accretive capital, primarily through common equity and preferred stock issuance, and maintained a high hedge ratio of 92% to manage risk.
Annaly’s strategic moves included expanding its Residential Credit business and entering a subservicing relationship with PennyMac Financial Services for mortgage servicing rights. The company also closed a record $3.9 billion in securitizations during the quarter, reinforcing its position as a leading non-bank issuer of mortgage-backed securities.
Looking ahead, Annaly Capital Management remains optimistic about its growth prospects, supported by declining market volatility and potential Federal Reserve rate cuts. The company plans to continue expanding its portfolio and enhancing its investment strategies to deliver attractive risk-adjusted returns while being mindful of potential market risks.