Annaly Capital Management reported a GAAP net loss of $2.57 per average common share, but core earnings (excluding PAA) were $0.21 per average common share. The company actively managed its portfolio to reduce leverage, with total assets of $99.3 billion. Annaly also announced that it will acquire its external manager and transition to an internally-managed REIT.
GAAP net loss of ($2.57) per average common share for the quarter
Core earnings (excluding PAA) of $0.21 per average common share for the quarter
Actively managed portfolio size to reduce leverage with total assets of $99.3 billion
Announced Annaly will acquire its external manager, Annaly Management Company LLC, and transition to an internally-managed REIT
Annaly is cautiously optimistic due to the meaningful tailwinds in the mortgage market and is prepared to capitalize on upcoming investment prospects.
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