Annaly Capital Management, Inc. Reports 3rd Quarter 2026 Results
Annaly reported a Q3 2026 GAAP net loss of ($1.36) per share and a -7.6% economic return, with book value falling to $17.86 from $20.15 a quarter earlier as fixed-income markets sold off. Distributable earnings held up: EAD came in at $0.80 per share, exceeding the $0.75 dividend for the quarter, with net interest margin improving to 1.54% from 1.47%. The company leaned counter-cyclically -- GAAP leverage rose to 8.0x from 7.4x, the hedge ratio hit 100%, and it raised $757 million via ATM sales while record whole-loan fundings of $5.8 billion and $7.4 billion of securitizations expanded the Residential Credit platform.
Key figures
- Hedge ratio
- 100%
- Ead per share
- 0.8
- Gaap leverage
- 8.0x
- Msr portfolio
- 4300000000
- Economic return
- -7.6%
- Total portfolio
- 106500000000
- Agency portfolio
- 91800000000
- Economic leverage
- 5.9x
- Atm capital raised
- 757000000
- Dividend per share
- 0.75
- Net interest margin
- 1.54%
- Book value per share
- 17.86
- Preferred redemption
- $442.5 million Series I
- Record loan fundings
- 5800000000
- Securitizations issued
- $7.4 billion across twelve securitizations
- Net interest margin ex paa
- 1.69%
- Residential credit portfolio
- 10400000000
- Book value per share prior quarter
- 20.15
AI analysis
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