Annaly Capital Management Reports Q3 2026 Financial Results

Executive Summary

On October 20, 2026, Annaly Capital Management, Inc. (NYSE: NLY) filed a Form 8-K under Item 2.02 announcing financial results for the third quarter ended September 30, 2026.

Key Financial Highlights

• Earnings Available for Distribution (EAD): $0.80 per average common share, exceeding the quarterly declared common stock cash dividend of $0.75 per share.
• GAAP Net Loss: $(1.36) per average common share, compared to GAAP net income of $1.06 in Q2 2026 and $1.21 in Q3 2025.
• Book Value: $17.86 per common share, down from $20.15 at June 30, 2026.
• Economic Return: (7.6%) for the third quarter.
• Leverage: Economic leverage stood at 5.9x (up from 5.6x in Q2 2026), while GAAP leverage stood at 8.0x (up from 7.4x in Q2 2026).
• Net Interest Margin: GAAP NIM of 1.54%; NIM (excluding PAA) of 1.69%.

Portfolio and Liquidity Overview

• Total Portfolio: $106.5 billion total portfolio, anchored by a $91.8 billion Agency MBS portfolio (55% of dedicated capital).
• Residential Credit & MSR: Residential Credit portfolio held steady at $10.4 billion (23% of dedicated capital), while MSR market value expanded to $4.3 billion (22% of dedicated capital).
• Liquidity & Financing: $8.5 billion of total assets available for financing, including $4.2 billion in cash and unencumbered Agency MBS.