The central bank has started to shift on interest rates and handed the mortgage market a 50 bps rate cut in September. A beneficiary of this changing central bank approach to interest rates, in my view, is going to be A financial researcher and avid investor with a keen eye for innovation and disruption, as well as growth buyouts and value stocks. Keeping an eye on the pace of high tech and early growth companies, I write about current events and the biggest news surrounding the industry, and strive to prov ...

The mortgage REIT is seeing tailwinds in its business. Investors are undoubtedly attracted to mortgage real estate investment trusts, or mREITs, such as Annaly Capital Management (NLY -1.07%), for their high dividend yields. Annaly, for its part, currently sports about a 13.2% yield. Although investors might like these high yields, mREITs can sometimes be difficult to understand. With Annaly recently reporting its third-quarter results, let's look at the key metrics investors should pay attention to when co ...

Annaly Capital Management barely makes enough money to cover its high-yielding dividend. Annaly Capital Management (NLY -1.07%) offers an alluring dividend. At over 13%, its yield is 10 times higher than the S&P 500's. With that higher reward potential comes a higher risk profile. That risk is apparent when taking a closer look at the mortgage REIT's third-quarter results. Here's the key number that puts its high-yielding dividend at a high risk for another reduction. Walking a fine line Annaly Capital Mana ...

财务数据和关键指标变化 - 截至2024年9月30日，公司每股账面价值从19.25美元增加至19.54美元，年初至今实现10.5%的经济回报 [19][20] - 第三季度的经济回报为4.9%，包括每股0.65美元的分红 [19][20] - 由于股本增加和优先股股息支出略有上升，分红覆盖的可分配收益每股略有下降 [20][21] 各条业务线数据和关键指标变化 - 代理MBS组合的市场价值增长了超过40亿美元，主要由于资本募集和价格上涨 [8][11] - 住宅信贷组合的市场价值为65亿美元，较上季度增加5.35亿美元，主要得益于对应平台的增长 [11][12] - 抵押服务权（MSR）组合的市场价值为28亿美元，尽管抵押贷款利率下降，估值仅小幅下降至5.6倍 [14][15] 各个市场数据和关键指标变化 - 美国经济在第三季度表现强劲，GDP年化增长率约为3% [6][7] - 利率波动在季度内下降至自2023年3月以来的最低水平，尽管仍高于COVID前的平均水平 [6][7] - 预计未来几个月，银行需求将增加，外资买家也将进入代理MBS市场 [54] 公司战略和发展方向和行业竞争 - 公司在代理MBS市场的资本配置优先级较高，预计将继续在这一领域进行投资 [32][33] - 通过与Rocket Mortgage的合作，增强了在MSR市场的竞争力，预计将提高新MSR的购买能力 [16][48] - 公司在住宅信贷市场的市场份额持续增长，预计将继续扩大 [56][59] 管理层对经营环境和未来前景的评论 - 管理层对未来的经济环境持乐观态度，认为公司业务模式在美联储降息周期中处于良好位置 [17][30] - 预计在即将到来的选举和市场波动中，将保持谨慎的资本管理策略 [26][51] 其他重要信息 - 公司在第三季度通过ATM计划募集了12亿美元的普通股 [7][8] - 住宅信贷业务的信用锁定量在第三季度创下新高，达到44亿美元 [12][13] 问答环节所有提问和回答 问题: 如何管理利率风险 - 公司在季度初几乎没有利率风险，主动管理投资组合，出售约20亿美元的代理MBS以应对利率上升 [25][26] 问题: 关于账面价值的更新 - 截至上周五，账面价值略微下降超过1% [28] 问题: 对2025年分红的展望 - 公司对分红持乐观态度，预计第四季度的收益将略有增加 [29][30] 问题: 如何看待资本配置 - 目前代理业务的回报率较高，资本配置主要集中在代理领域 [32][33] 问题: 非QM市场的竞争情况 - 公司在非QM市场的市场份额持续增长，预计将继续扩大 [56][59]

Annaly Capital Management, Inc. (NLY) reported third-quarter 2024 adjusted earnings available for distribution (EAD) per average share of 66 cents, which missed the Zacks Consensus Estimate of 67 cents. The reported figure remained unchanged from the year-ago quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.NLY recorded a year-over-year decline in book value per share (BVPS). Nonetheless, the company’s average yield on interest-earning assets improved in the reported quarter. ...

Annaly Capital Management (NLY) came out with quarterly earnings of $0.66 per share, missing the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.66 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.49%. A quarter ago, it was expected that this real estate investment trust would post earnings of $0.66 per share when it actually produced earnings of $0.68, delivering a surprise of 3.03%.Over the las ...

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or ...

ANNALY CAPITAL MANAGEMENT, INC. REPORTS 3rd QUARTER 2024 RESULTS NEW YORK—October 23, 2024—Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter ended September 30, 2024. Financial Highlights • GAAP net income of $0.05 per average common share for the quarter • Earnings available for distribution ("EAD") of $0.66 per average common share for the quarter • Economic return of 4.9% for the third quarter and 10.5% year-to-date through the t ...

Investors will want to consider the following before picking up this ultra-high yield dividend stock.Many income investors may be drawn to Annaly Capital Management (NLY -1.11%) because of its eye-popping dividend, which at the current share price yields more than 13%.Like many real estate investment trusts (REITs), Annaly Capital struggled due to rising interest rates in the past few years. However, the tides may be shifting: In September, the Federal Reserve cut its benchmark interest rate for the first t ...

Annaly Capital could end up a winner if rates keep falling, but dividend investors still shouldn't buy it. Here's what you need to know. Annaly Capital Management (NLY 1.00%) looks like a dividend stock but doesn't act like one. This is hugely important right now as investors assess the potential for additional interest-rate cuts by the Federal Reserve. Lower rates will probably be good for Annaly, but that's only important for investors who are looking for a total-return investment. If you're looking for d ...