May 17, 2024

NEW YORK–(BUSINESS WIRE)–Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or the “Company”) today announced its financial results for the quarter ended March 31, 2024.

Financial Highlights

  • GAAP net income of $0.85 per average common share for the quarter
  • Earnings available for distribution (“EAD”) of $0.64 per average common share for the quarter
  • Economic return of 4.8% for the first quarter
  • Book value per common share of $19.73
  • GAAP leverage of 6.7x, down from 6.8x in the prior quarter; economic leverage of 5.6x, down from 5.7x in the prior quarter
  • Declared quarterly common stock cash dividend of $0.65 per share

Business Highlights

Investment and Strategy

  • Total portfolio of $73.5 billion, including $64.7 billion in highly liquid Agency portfolio(1)
  • Annaly’s Agency portfolio decreased modestly during the quarter, with portfolio activity focused on the continued rotation up in coupon through the addition of higher coupon, high-quality specified pools as well as a modest increase in TBA exposure
    • Annaly’s Agency portfolio represents 59% of dedicated equity capital(2), down from 62% in the prior quarter
  • Maintained conservative hedge position and continued to favor swaps over treasuries; hedge ratio decreased from 106% to 97% during the quarter as short-term hedges matured and new hedges were added further out the yield curve
  • Annaly’s Residential Credit portfolio increased 4% to $6.2 billion(1), representing 21% of dedicated equity capital(2)
    • Continued record growth from the correspondent channel in the first quarter with quarterly lock volume of $3.7 billion and $2.4 billion of whole loans settled, up nearly 40% and 35% quarter-over-quarter, respectively
  • Annaly’s Mortgage Servicing Rights (“MSR”) portfolio ended the quarter with $2.7 billion(1) in assets, representing 20% of dedicated equity capital(2)
    • Subsequent to quarter end, committed to adding a $117 million market value bulk package of low note rate MSR(3)

Financing and Capital

  • $6.2 billion of total assets available for financing(4), including cash and unencumbered Agency MBS of $3.5 billion
  • Average GAAP cost of interest bearing liabilities increased three basis points to 5.40% and average economic cost of interest bearing liabilities increased 36 basis points to 3.78% quarter-over-quarter
  • Annaly Residential Credit Group added $300 million in credit facility capacity during the quarter; total warehouse capacity across both Annaly’s MSR and Residential Credit businesses of $3.9 billion, including $1.25 billion of committed capacity
  • Weighted average days to maturity for repurchase agreements decreased to 43 days from 44 days in the prior quarter
  • Annaly Residential Credit Group priced eight whole loan securitizations totaling $3.8 billion since the beginning of 2024(5), representing record quarterly issuance for the OBX shelf
    • Annaly remains the largest non-bank issuer and the second largest issuer overall of Prime Jumbo and Expanded Credit MBS since the beginning of 2024(6)

“We were pleased to generate a 4.8% economic return in the first quarter as each of our three investment strategies contributed to our book value appreciation, as well as generated stable earnings,” commented David Finkelstein, Annaly’s Chief Executive Officer and Chief Investment Officer. “Our core Agency MBS portfolio performed well as spreads were supported during the first quarter by lower volatility and an improved supply and demand picture. Our Residential Credit business continued to expand market share across the non-Agency sector with record lock and whole loan securitization volume and our MSR portfolio increased in value given the interest rate environment.

“Annaly remains prepared for elevated volatility, which we have seen materialize subsequent to quarter end, with a well-hedged portfolio, a responsible leverage and liquidity profile and a capital allocation that can perform throughout different interest rate and macro environments. Importantly, we continue to see attractive returns across our three investment strategies and are well-positioned for future opportunities where most attractive.”

(1)

Total portfolio represents Annaly’s investments that are on-balance sheet as well as investments that are off-balance sheet in which Annaly has economic exposure. Agency assets include TBA purchase contracts (market value) of $1.1 billion. Residential Credit assets exclude assets transferred or pledged to securitization vehicles of $15.6 billion, include $1.6 billion of retained securities that are eliminated in consolidation and $153.1 million of Non-Agency CMBS and are shown net of participations issued totaling $1.2 billion.

(2)

Capital allocation for each of the investment strategies is calculated as the difference between each investment strategy’s allocated assets, which include TBA purchase contracts, and liabilities. Dedicated capital allocations as of March 31, 2024 include Non-Agency CMBS within Residential Credit.

(3)

Represents the market value of a deal where Annaly has executed a letter of intent. There can be no assurance whether this deal will close or when it will close.

(4)

Represents $5.3 billion of unencumbered assets, which represents Annaly’s excess liquidity and defined as assets that have not been pledged or securitized (generally including cash and cash equivalents, Agency MBS, CRT, Non-Agency MBS, residential mortgage loans, MSR, reverse repurchase agreements, other unencumbered financial assets and capital stock), and $0.9 billion of fair value of collateral pledged for future advances.

(5)

Includes a $575 million whole loan securitization that closed in April 2024 and $441 million whole loan securitization that priced in April 2024.

(6)

Issuer ranking data from Inside Nonconforming Markets for Q1 2024 (April 12, 2024 issue).

 

Financial Performance

The following table summarizes certain key performance indicators as of and for the quarters ended March 31, 2024, December 31, 2023 and March 31, 2023:

 

March 31, 2024

 

December 31, 2023

 

March 31, 2023

Book value per common share

$

19.73

 

 

$

19.44

 

 

$

20.77

 

GAAP net income (loss) per average common share (1)

$

0.85

 

 

$

(0.88

)

 

$

(1.79

)

Annualized GAAP return (loss) on average equity (2)

 

16.29

%

 

 

(14.21

%)

 

 

(28.84

%)

GAAP leverage at period-end (3)

6.7:1

 

6.8:1

 

5.9:1

Net interest margin (4)

 

(0.03

%)

 

 

(0.25

%)

 

 

0.09

%

Average yield on interest earning assets (5)

 

4.88

%

 

 

4.55

%

 

 

3.96

%

Average GAAP cost of interest bearing liabilities (6)

 

5.40

%

 

 

5.37

%

 

 

4.52

%

Net interest spread

 

(0.52

%)

 

 

(0.82

%)

 

 

(0.56

%)

Non-GAAP metrics *

 

 

 

 

 

Earnings available for distribution per average common share (1)

$

0.64

 

 

$

0.68

 

 

$

0.81

 

Annualized EAD return on average equity

 

12.63

%

 

 

13.76

%

 

 

14.82

%

Economic leverage at period-end (3)

5.6:1

 

5.7:1

 

6.4:1

Net interest margin (excluding PAA) (4)

 

1.43

%

 

 

1.58

%

 

 

1.76

%

Average yield on interest earning assets (excluding PAA) (5)

 

4.87

%

 

 

4.64

%

 

 

3.96

%

Average economic cost of interest bearing liabilities (6)

 

3.78

%

 

 

3.42

%

 

 

2.34

%

Net interest spread (excluding PAA)

 

1.09

%

 

 

1.22

%

 

 

1.62

%

*

Represents a non-GAAP financial measure. Please refer to the “Non-GAAP Financial Measures” section for additional information.

(1)

Net of dividends on preferred stock.

(2)

Annualized GAAP return (loss) on average equity annualizes realized and unrealized gains and (losses) which may not be indicative of full year performance, unannualized GAAP return (loss) on average equity is 4.07%, (3.55%), and (7.21%) for the quarters ended March 31, 2024, December 31, 2023, and March 31, 2023, respectively.

(3)

GAAP leverage is computed as the sum of repurchase agreements, other secured financing, debt issued by securitization vehicles, participations issued, and U.S. Treasury securities sold, not yet purchased divided by total equity. Economic leverage is computed as the sum of recourse debt, cost basis of to-be-announced (“TBA”) and CMBX derivatives outstanding, and net forward purchases (sales) of investments divided by total equity. Recourse debt consists of repurchase agreements, other secured financing, and US Treasury securities, sold, not yet purchased. Debt issued by securitization vehicles and participations issued are non-recourse to the Company and are excluded from economic leverage.

(4)

Net interest margin represents interest income less interest expense divided by average Interest Earning Assets. Net interest margin does not include net interest component of interest rate swaps. Net interest margin (excluding PAA) represents the sum of interest income (excluding PAA) plus TBA dollar roll income and CMBX coupon income less interest expense and the net interest component of interest rate swaps divided by the sum of average Interest Earning Assets plus average outstanding TBA contract and CMBX balances. PAA represents the cumulative impact on prior periods, but not the current period, of quarter-over-quarter changes in estimated long-term prepayment speeds related to the Company’s Agency mortgage-backed securities.

(5)

Average yield on interest earning assets represents annualized interest income divided by average interest earning assets. Average interest earning assets reflects the average amortized cost of our investments during the period. Average yield on interest earning assets (excluding PAA) is calculated using annualized interest income (excluding PAA).

(6)

Average GAAP cost of interest bearing liabilities represents annualized interest expense divided by average interest bearing liabilities. Average interest bearing liabilities reflects the average balances during the period. Average economic cost of interest bearing liabilities represents annualized economic interest expense divided by average interest bearing liabilities. Economic interest expense is comprised of GAAP interest expense and the net interest component of interest rate swaps.

 

Other Information

This news release and our public documents to which we refer contain or incorporate by reference certain forward-looking statements which are based on various assumptions (some of which are beyond our control) and may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as “may,” “will,” “believe,” “expect,” “anticipate,” “continue,” or similar terms or variations on those terms or the negative of those terms. Such statements include those relating to the Company’s future performance, macro outlook, the interest rate and credit environments, tax reform and future opportunities. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including, but not limited to, changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability of mortgage-backed securities (“MBS”) and other securities for purchase; the availability of financing and, if available, the terms of any financing; changes in the market value of the Company’s assets; changes in business conditions and the general economy; the Company’s ability to grow its residential credit business; the Company’s ability to grow its mortgage servicing rights business; credit risks related to the Company’s investments in credit risk transfer securities and residential mortgage-backed securities and related residential mortgage credit assets; risks related to investments in mortgage servicing rights; the Company’s ability to consummate any contemplated investment opportunities; changes in government regulations or policy affecting the Company’s business; the Company’s ability to maintain its qualification as a REIT for U.S. federal income tax purposes; the Company’s ability to maintain its exemption from registration under the Investment Company Act of 1940; and operational risks or risk management failures by us or critical third parties, including cybersecurity incidents. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law.

Annaly is a leading diversified capital manager with investment strategies across mortgage finance. Annaly’s principal business objective is to generate net income for distribution to its stockholders and to optimize its returns through prudent management of its diversified investment strategies. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Additional information on the company can be found at www.annaly.com.

We use our website (www.annaly.com) and LinkedIn account (www.linkedin.com/company/annaly-capital-management) as channels of distribution of company information. The information we post through these channels may be deemed material. Accordingly, investors should monitor these channels, in addition to following our press releases, SEC filings and public conference calls and webcasts. In addition, you may automatically receive email alerts and other information about Annaly when you enroll your email address by visiting the “Investors” section of our website, then clicking on “Investor Resources” and selecting “Email Alerts” to complete the email notification form. Our website, any alerts and social media channels are not incorporated by reference into, and are not a part of, this document.

The Company prepares an investor presentation and supplemental financial information for the benefit of its shareholders. Please refer to the investor presentation for definitions of both GAAP and non-GAAP measures used in this news release. Both the First Quarter 2024 Investor Presentation and the First Quarter 2024 Supplemental Information can be found at the Company’s website (www.annaly.com) in the “Investors” section under “Investor Presentations.”

Conference Call

The Company will hold the first quarter 2024 earnings conference call on April 25, 2024 at 9:00 a.m. Eastern Time. Participants are encouraged to pre-register for the conference call to receive a unique PIN to gain immediate access to the call and bypass the live operator. Pre-registration may be completed by accessing the pre-registration link found on the homepage or “Investors” section of the Company’s website at www.annaly.com, or by using the following link: https://dpregister.com/sreg/10187593/fc055a6491. Pre-registration may be completed at any time, including up to and after the call start time.

For participants who would like to join the call but have not pre-registered, access is available by dialing 844-735-3317 within the U.S., or 412-317-5703 internationally, and requesting the “Annaly Earnings Call.”

There will also be an audio webcast of the call on www.annaly.com. A replay of the call will be available for one week following the conference call. The replay number is 877-344-7529 for domestic calls and 412-317-0088 for international calls and the conference passcode is 6582139. If you would like to be added to the e-mail distribution list, please visit www.annaly.com, click on Investors, then select Email Alerts and complete the email notification form.

Financial Statements

 

ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(dollars in thousands, except per share data)

 
 

March 31,

2024

 

December 31,

2023 (1)

 

September 30,
2023

 

June 30,
2023

 

March 31,
2023

 

(unaudited)

 

 

 

(unaudited)

 

(unaudited)

 

(unaudited)

Assets

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

1,665,370

 

 

$

1,412,148

 

 

$

1,241,122

 

 

$

1,236,872

 

 

$

1,794,173

 

Securities

 

66,500,689

 

 

 

69,613,565

 

 

 

69,860,730

 

 

 

71,202,461

 

 

 

69,238,185

 

Loans, net

 

2,717,823

 

 

 

2,353,084

 

 

 

1,793,140

 

 

 

1,154,320

 

 

 

1,642,822

 

Mortgage servicing rights

 

2,651,279

 

 

 

2,122,196

 

 

 

2,234,813

 

 

 

2,018,896

 

 

 

1,790,980

 

Assets transferred or pledged to securitization vehicles

 

15,614,750

 

 

 

13,307,622

 

 

 

11,450,346

 

 

 

11,318,419

 

 

 

10,277,588

 

Derivative assets

 

203,799

 

 

 

162,557

 

 

 

549,833

 

 

 

457,119

 

 

 

400,139

 

Receivable for unsettled trades

 

941,366

 

 

 

2,710,224

 

 

 

1,047,566

 

 

 

787,442

 

 

 

679,096

 

Principal and interest receivable

 

867,348

 

 

 

1,222,705

 

 

 

1,158,648

 

 

 

944,537

 

 

 

773,722

 

Intangible assets, net

 

11,433

 

 

 

12,106

 

 

 

12,778

 

 

 

15,163

 

 

 

15,921

 

Other assets

 

309,689

 

 

 

311,029

 

 

 

299,447

 

 

 

195,248

 

 

 

219,391

 

Total assets

$

91,483,546

 

 

$

93,227,236

 

 

$

89,648,423

 

 

$

89,330,477

 

 

$

86,832,017

 

Liabilities and stockholders’ equity

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Repurchase agreements

$

58,975,232

 

 

$

62,201,543

 

 

$

64,693,821

 

 

$

61,637,600

 

 

$

60,993,018

 

Other secured financing

 

600,000

 

 

 

500,000

 

 

 

500,000

 

 

 

500,000

 

 

 

250,000

 

Debt issued by securitization vehicles

 

13,690,967

 

 

 

11,600,338

 

 

 

9,983,847

 

 

 

9,789,282

 

 

 

8,805,911

 

Participations issued

 

1,161,323

 

 

 

1,103,835

 

 

 

788,442

 

 

 

492,307

 

 

 

673,431

 

U.S. Treasury securities sold, not yet purchased

 

2,077,404

 

 

 

2,132,751

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

103,142

 

 

 

302,295

 

 

 

97,616

 

 

 

156,182

 

 

 

473,515

 

Payable for unsettled trades

 

2,556,798

 

 

 

3,249,389

 

 

 

2,214,319

 

 

 

4,331,315

 

 

 

3,259,034

 

Interest payable

 

350,405

 

 

 

287,937

 

 

 

198,084

 

 

 

140,620

 

 

 

118,395

 

Dividends payable

 

325,286

 

 

 

325,052

 

 

 

321,629

 

 

 

321,031

 

 

 

321,023

 

Other liabilities

 

146,876

 

 

 

179,005

 

 

 

173,608

 

 

 

74,795

 

 

 

28,657

 

Total liabilities

 

79,987,433

 

 

 

81,882,145

 

 

 

78,971,366

 

 

 

77,443,132

 

 

 

74,922,984

 

Stockholders’ equity

 

 

 

 

 

 

 

 

 

Preferred stock, par value $0.01 per share (2)

 

1,536,569

 

 

 

1,536,569

 

 

 

1,536,569

 

 

 

1,536,569

 

 

 

1,536,569

 

Common stock, par value $0.01 per share (3)

 

5,004

 

 

 

5,001

 

 

 

4,948

 

 

 

4,939

 

 

 

4,939

 

Additional paid-in capital

 

23,673,687

 

 

 

23,672,391

 

 

 

23,572,996

 

 

 

23,550,346

 

 

 

23,543,091

 

Accumulated other comprehensive income (loss)

 

(1,281,918

)

 

 

(1,335,400

)

 

 

(2,694,776

)

 

 

(2,382,531

)

 

 

(2,550,614

)

Accumulated deficit

 

(12,523,809

)

 

 

(12,622,768

)

 

 

(11,855,267

)

 

 

(10,933,044

)

 

 

(10,741,863

)

Total stockholders’ equity

 

11,409,533

 

 

 

11,255,793

 

 

 

10,564,470

 

 

 

11,776,279

 

 

 

11,792,122

 

Noncontrolling interests

 

86,580

 

 

 

89,298

 

 

 

112,587

 

 

 

111,066

 

 

 

116,911

 

Total equity

 

11,496,113

 

 

 

11,345,091

 

 

 

10,677,057

 

 

 

11,887,345

 

 

 

11,909,033

 

Total liabilities and equity

$

91,483,546

 

 

$

93,227,236

 

 

$

89,648,423

 

 

$

89,330,477

 

 

$

86,832,017

 

 

(1)

Derived from the audited consolidated financial statements at December 31, 2023.

(2)

6.95% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock – Includes 28,800,000 shares authorized, issued and outstanding. 6.50% Series G Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock – Includes 17,000,000 shares authorized, issued and outstanding. 6.75% Series I Preferred Stock – Includes 17,700,000 shares authorized, issued and outstanding.

(3)

Includes 1,468,250,000 shares authorized. Includes 500,440,023 shares issued and outstanding at March 31, 2024, 500,080,287 shares issued and outstanding at December 31, 2023, 494,814,038 shares issued and outstanding at September 30, 2023, 493,893,288 shares issued and outstanding at June 30, 2023, 493,880,938 shares issued and outstanding at March 31, 2023.

 

ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(dollars in thousands, except per share data)

(Unaudited)

 

For the quarters ended

 

March 31,

2024

 

December 31,
2023

 

September 30,
2023

 

June 30,
2023

 

March 31,
2023

Net interest income

 

 

 

 

 

 

 

 

 

Interest income

$

1,094,488

 

 

$

990,352

 

 

$

1,001,485

 

 

$

921,494

 

 

$

818,250

 

Interest expense

 

1,100,939

 

 

 

1,043,902

 

 

 

1,046,819

 

 

 

953,457

 

 

 

798,787

 

Net interest income

 

(6,451

)

 

 

(53,550

)

 

 

(45,334

)

 

 

(31,963

)

 

 

19,463

 

Net servicing income

 

 

 

 

 

 

 

 

 

Servicing and related income

 

115,084

 

 

 

98,474

 

 

 

97,620

 

 

 

83,790

 

 

 

84,273

 

Servicing and related expense

 

12,216

 

 

 

11,219

 

 

 

9,623

 

 

 

8,930

 

 

 

7,880

 

Net servicing income

 

102,868

 

 

 

87,255

 

 

 

87,997

 

 

 

74,860

 

 

 

76,393

 

Other income (loss)

 

 

 

 

 

 

 

 

 

Net gains (losses) on investments and other

 

(994,127

)

 

 

1,894,744

 

 

 

(2,713,126

)

 

 

(1,308,948

)

 

 

1,712

 

Net gains (losses) on derivatives

 

1,377,144

 

 

 

(2,301,911

)

 

 

2,127,430

 

 

 

1,475,325

 

 

 

(900,752

)

Loan loss (provision) reversal

 

 

 

 

 

 

 

 

 

 

 

 

 

219

 

Other, net

 

23,367

 

 

 

22,863

 

 

 

26,250

 

 

 

9,105

 

 

 

15,498

 

Total other income (loss)

 

406,384

 

 

 

(384,304

)

 

 

(559,446

)

 

 

175,482

 

 

 

(883,323

)

General and administrative expenses

 

 

 

 

 

 

 

 

 

Compensation expense

 

28,721

 

 

 

29,502

 

 

 

30,064

 

 

 

30,635

 

 

 

29,391

 

Other general and administrative expenses

 

9,849

 

 

 

9,399

 

 

 

9,845

 

 

 

12,280

 

 

 

11,437

 

Total general and administrative expenses

 

38,570

 

 

 

38,901

 

 

 

39,909

 

 

 

42,915

 

 

 

40,828

 

Income (loss) before income taxes

 

464,231

 

 

 

(389,500

)

 

 

(556,692

)

 

 

175,464

 

 

 

(828,295

)

Income taxes

 

(943

)

 

 

1,732

 

 

 

12,392

 

 

 

14,277

 

 

 

11,033

 

Net income (loss)

 

465,174

 

 

 

(391,232

)

 

 

(569,084

)

 

 

161,187

 

 

 

(839,328

)

Net income (loss) attributable to noncontrolling interests

 

2,282

 

 

 

12,511

 

 

 

(6,879

)

 

 

(5,846

)

 

 

4,928

 

Net income (loss) attributable to Annaly

 

462,892

 

 

 

(403,743

)

 

 

(562,205

)

 

 

167,033

 

 

 

(844,256

)

Dividends on preferred stock

 

37,061

 

 

 

37,181

 

 

 

36,854

 

 

 

35,766

 

 

 

31,875

 

Net income (loss) available (related) to common stockholders

$

425,831

 

 

$

(440,924

)

 

$

(599,059

)

 

$

131,267

 

 

$

(876,131

)

Net income (loss) per share available (related) to common stockholders

 

 

 

 

 

 

 

 

Basic

$

0.85

 

 

$

(0.88

)

 

$

(1.21

)

 

$

0.27

 

 

$

(1.79

)

Diluted

$

0.85

 

 

$

(0.88

)

 

$

(1.21

)

 

$

0.27

 

 

$

(1.79

)

Weighted average number of common shares outstanding

 

 

 

 

 

 

 

 

Basic

 

500,612,840

 

 

 

499,871,725

 

 

 

494,330,361

 

 

 

494,165,256

 

 

 

489,688,364

 

Diluted

 

501,182,043

 

 

 

499,871,725

 

 

 

494,330,361

 

 

 

494,358,982

 

 

 

489,688,364

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

Net income (loss)

$

465,174

 

 

$

(391,232

)

 

$

(569,084

)

 

$

161,187

 

 

$

(839,328

)

Unrealized gains (losses) on available-for-sale securities

 

(281,869

)

 

 

1,024,637

 

 

 

(825,286

)

 

 

(294,045

)

 

 

675,374

 

Reclassification adjustment for net (gains) losses included in net income (loss)

 

335,351

 

 

 

334,739

 

 

 

513,041

 

 

 

462,128

 

 

 

482,908

 

Other comprehensive income (loss)

 

53,482

 

 

 

1,359,376

 

 

 

(312,245

)

 

 

168,083

 

 

 

1,158,282

 

Comprehensive income (loss)

 

518,656

 

 

 

968,144

 

 

 

(881,329

)

 

 

329,270

 

 

 

318,954

 

Comprehensive income (loss) attributable to noncontrolling interests

 

2,282

 

 

 

12,511

 

 

 

(6,879

)

 

 

(5,846

)

 

 

4,928

 

Comprehensive income (loss) attributable to Annaly

 

516,374

 

 

 

955,633

 

 

 

(874,450

)

 

 

335,116

 

 

 

314,026

 

Dividends on preferred stock

 

37,061

 

 

 

37,181

 

 

 

36,854

 

 

 

35,766

 

 

 

31,875

 

Comprehensive income (loss) attributable to common stockholders

$

479,313

 

 

$

918,452

 

 

$

(911,304

)

 

$

299,350

 

 

$

282,151

 

 

Key Financial Data

The following table presents key metrics of the Company’s portfolio,

Contacts

Annaly Capital Management, Inc.

Investor Relations

1-888-8Annaly

www.annaly.com

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The post Annaly Capital Management, Inc. Reports 1st Quarter 2024 Results appeared first on Daily Host News.

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