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The latest announcement is out from Annaly Capital ( (NLY) ).
In its first-quarter 2026 investor presentation dated April 21, 2026, Annaly Capital reported its tenth consecutive quarter of positive economic returns, with earnings available for distribution of $0.76 per share again exceeding its $0.70 common dividend and book value per share standing at $19.82. The company posted a 1.5% economic return for the quarter, kept economic leverage broadly stable at 5.7 times, and raised $509 million in accretive equity while lowering its average cost of interest-bearing liabilities.
Annaly highlighted robust financing and portfolio activity, including $9.0 billion of assets available for financing and record residential securitization volumes that cement its status as the largest non-bank and second-largest overall issuer of Prime Jumbo and Expanded Credit MBS in 2026 year-to-date. Capital was increasingly directed toward higher-yielding residential credit and MSR assets, with the residential credit book expanding 30% to $10.3 billion and the MSR portfolio rising 9% to $4.2 billion, moves that underscore a strategic shift toward diversified mortgage exposures beyond core Agency MBS while maintaining substantial liquidity and warehouse capacity across its platforms.
The most recent analyst rating on (NLY) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Annaly Capital stock, see the NLY Stock Forecast page.
Spark’s Take on NLY Stock
According to Spark, TipRanks’ AI Analyst, NLY is a Neutral.
The score is held back primarily by elevated balance-sheet leverage (debt-to-equity ~7.0x) and a sharp drop in operating/free cash flow in 2025 despite the earnings rebound. Offsetting factors include attractive valuation/income (P/E 7.75; ~12.37% yield) and a positive earnings-call outlook with dividend coverage, while technical signals are mixed-to-weak near term (negative MACD; RSI ~44.7; below 20/50 DMA).
To see Spark’s full report on NLY stock, click here.
More about Annaly Capital
Annaly Capital Management, Inc. is an internally managed, publicly traded real estate investment trust focused on investing in and financing residential mortgage assets, primarily Agency mortgage-backed securities, residential credit and mortgage servicing rights. The firm operates as a major non-bank issuer and servicer in the U.S. mortgage finance market, with significant securitization and warehouse financing platforms supporting its capital-intensive strategies.
Average Trading Volume: 7,895,941
Technical Sentiment Signal: Strong Buy
Current Market Cap: $16.26B
Find detailed analytics on NLY stock on TipRanks’ Stock Analysis page.