Annaly Capital Q1 net income per share falls, book value declines

Annaly Capital Management

21/04/2026 21:18

Overview

Mortgage finance capital manager's Q1 GAAP net income per share fell sharply from prior quarter

Earnings available for distribution per share rose yr/yr and quarter-over-quarter

Book value per common share declined to $19.82 from $20.21 in prior quarter

Outlook

Annaly says it sees attractive investment opportunities across its three strategies

Result Drivers

RESIDENTIAL CREDIT GROWTH - Residential Credit portfolio grew 30% in Q1, driven by record whole loan production and ongoing securitization activity

MSR PORTFOLIO EXPANSION - MSR portfolio increased 9% as the company capitalized on opportunities in bulk and flow markets

AGENCY PORTFOLIO STABILITY - Agency portfolio decreased marginally, with activity focused on investing paydowns into intermediate coupons and Agency CMBS

Company press release: ID:nBw2Nr4xa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.33
Q1 Net Income
$290.52 mln
Q1 Net Interest Income
$452.69 mln
Q1 Pretax Profit
$289 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 $24.50, about 8.2% above its April 20 closing price of $22.65

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)