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Annaly Capital Management, Inc. reports developments tied to its mortgage REIT platform and diversified investment strategies across mortgage finance. The company is internally managed and has elected REIT tax status, with business activity centered on Agency mortgage-backed securities, Residential Credit investments in non-Agency residential whole loans and securitized products, and Mortgage Servicing Rights.
Recurring updates include quarterly financial results, portfolio allocation, leverage and hedge disclosures, securitization activity, Onslow Bay correspondent loan activity, and cash dividends on common stock and Series F, Series G and Series J preferred stock. Annaly also announces earnings-call schedules and investor materials associated with its financial reporting cycle.
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Annaly Capital Management reported its financial results for Q1 2023, highlighting a GAAP net loss of ($1.79) per share and earnings available for distribution of $0.81 per share. The company achieved an economic return of 3.0% and a book value per share of $20.77. GAAP leverage decreased to 5.9x, while economic leverage rose to 6.4x. Annaly declared a cash dividend of $0.65 per share, despite a significant decline in annualized GAAP return on equity, now at (28.8%). Total assets were reported at $85.5 billion, with notable advances in the Residential Credit Group. Although the company navigated market volatility effectively, it faced challenges, including an average GAAP cost of interest-bearing liabilities increasing to 4.52%. CEO David Finkelstein expressed confidence in Annaly's positioning to capitalize on future opportunities.
Annaly Capital Management (NYSE:NLY) has announced it will release its financial results for the quarter ending March 31, 2023, after market close on April 26, 2023. Following the results, a conference call will be held on April 27, 2023, at 9:00 a.m. Eastern Time. Participants are encouraged to pre-register for the call to receive a unique access PIN. For those who do not pre-register, they can still join the call by dialing in on the event day. A playback of the call will be available for a week after the event. Annaly focuses on generating net income for its shareholders through diversified capital management in mortgage finance, operating as a real estate investment trust (REIT).
Annaly Capital Management (NYSE: NLY) has appointed Martin Laguerre as an independent board member effective March 13, 2023. Laguerre, a Senior Advisor at Warburg Pincus, brings over 25 years of financial expertise, enhancing Annaly's strategic focus in the housing finance market. He previously held senior roles at CDPQ and CPP Investment Board, and now serves on the boards of BGC Partners and other financial entities. Laguerre aims to leverage his experience to drive shareholder value and strengthen Annaly's position in the residential mortgage sector.