Annaly Q1 2024 Earnings Report
Key Takeaways
Annaly Capital Management reported a GAAP net income of $0.85 per average common share and earnings available for distribution (EAD) of $0.64 per average common share for the first quarter of 2024. The company's economic return was 4.8% for the quarter, with a book value per common share of $19.73. The total portfolio was $73.5 billion, including $64.7 billion in Agency portfolio.
GAAP net income of $0.85 per average common share was achieved.
Earnings available for distribution (EAD) reached $0.64 per average common share.
Economic return was 4.8% for the first quarter.
Book value per common share stood at $19.73.
Annaly
Annaly
Forward Guidance
Annaly remains prepared for elevated volatility with a well-hedged portfolio, a responsible leverage and liquidity profile, and a capital allocation that can perform throughout different interest rate and macro environments. The company continues to see attractive returns across its three investment strategies and is well-positioned for future opportunities.
Positive Outlook
- Well-hedged portfolio
- Responsible leverage and liquidity profile
- Capital allocation designed to perform throughout different interest rate and macro environments
- Attractive returns seen across three investment strategies
- Well-positioned for future opportunities
Challenges Ahead
- Elevated volatility
- Changes in interest rates
- Changes in the yield curve
- Changes in prepayment rates
- Availability of financing