Annaly Capital reports Q3 EADPS of 73c, consensus 72c

Reports earnings available for distribution of 73c per average common share for the quarter; Economic return of 8.1% for the third quarter; 11.5% economic return year-to-date through the third quarter; Book value per common share of $19.25. “We were pleased to generate an 8.1% economic return during the third quarter and 11.5% economic return for the first nine months of the year as each of our investment strategies drove strong performance and contributed to earnings that again exceeded our dividend,” said Chief Executive Officer & Co-Chief Investment Officer David Finkelstein. “We deployed accretive capital raised during the quarter across our three businesses, with the majority going to our Agency MBS portfolio. Our Agency portfolio benefitted from meaningful spread tightening during the quarter driven by increased MBS demand and declining volatility. Growth in our Residential Credit portfolio was fueled by record loan lock, funding and securitization volumes as our whole loan correspondent channel continued its momentum. Meanwhile, we expanded our network of subservicing and recapture partners in our MSR business and further grew our underlying portfolio. Going forward, we maintain our optimistic outlook as volatility continues to decline, the Federal Reserve is positioned for additional rate cuts and fixed income flows remain robust, though we are cognizant of risks on the horizon. With each of our investment strategies providing attractive risk-adjusted returns, we will look to prudently grow our portfolio while continuing to broaden our investment and operational capabilities across housing finance.”