Annaly Capital posts Q4 net income of $1.40 per share

Reuters01-29
Annaly Capital posts Q4 net income of $1.40 per share

Overview

  • Capital manager's Q4 GAAP net income was $1.40 per share

  • Earnings available for distribution in Q4 was $0.74 per share

  • Company's Agency portfolio increased by 6% in Q4

Outlook

  • Company expects its platform to provide enhanced risk-adjusted returns

Result Drivers

  • AGENCY PORTFOLIO GROWTH - Annaly's Agency portfolio increased by 6%, driven by investments in higher coupon securities and Agency CMBS

  • RESIDENTIAL CREDIT EXPANSION - Residential Credit portfolio rose 16% due to record correspondent channel activity

  • MSR PORTFOLIO INCREASE - MSR portfolio grew by 8%, reflecting strategic investments in mortgage servicing rights

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Net Income

$1.02 bln

Q4 Net Interest Income

$366.58 mln

Q4 Pretax Profit

$1.01 bln

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 $23.13, about 5.1% below its January 27 closing price of $24.36

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

Press Release: ID:nBw308NRqa

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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.)

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