Annaly Capital posts Q3 net loss amid challenging fixed-income markets

Annaly Capital Management

20/10/2026 21:27

Overview
U.S. mortgage REIT posted Q3 net loss and book value per share declined
Earnings available for distribution rose yr/yr and exceeded common stock dividend
Company cited challenging fixed income markets and increased leverage for quarterly loss

Outlook
Company did not provide specific financial guidance for upcoming quarters or full year in its press release 

Result Drivers
PORTFOLIO ROTATION - Co said it rotated Agency portfolio into higher coupon specified pools
HEDGING STRATEGY - Co added Treasury futures to hedge against market volatility, ending quarter with 100% hedge ratio
LOAN FUNDINGS - Co reported record loan fundings in whole loan correspondent channel

Company press release: ID:nBw2WQxDMa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Loss
 
$1 bln
 
Q3 Net Interest Income
 
$543.61 mln
 
Q3 Pretax Loss
 
$984.36 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy"
Wall Street's median 12-month price target for Annaly Capital Management, Inc. is $24.00, about 35.4% above its October 19 closing price of $17.72
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Reuters Recommended Reads
Oct 19 - AGNC Investment Q3 net loss widens on Agency MBS market weakness
Oct 19 - Dynex Capital's Q3 book value declines, reports loss
     

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)