Annaly Capital reports Q1 EAD 81c, consensus 76c

Reports economic return of 3.0% for the first quarter. Annualized GAAP loss on average equity of (28.8%) and annualized EAD return on average equity of 14.8%. Book value per common share of $20.77. "Despite significant volatility in interest rates and mortgage spreads throughout the first quarter, Annaly was able to proactively navigate this challenging environment with book value effectively unchanged, generating an economic return of 3%," remarked David Finkelstein, Annaly’s Chief Executive Officer and Chief Investment Officer.