Annaly Capital reports Q4 earnings available for distribution 72c, consensus 67c

Reports Q4 book value per common share of $19.15. “Annaly generated an economic return of 11.9% in 2024 supported by strong performance from each of our three investment strategies,” remarked David Finkelstein, Chief Executive Officer and Co-Chief Investment Officer. “Throughout 2024, we grew our Agency portfolio by nearly $5 billion as we deployed proceeds from accretive capital raised while continuing to migrate up in coupon. Our Residential Credit business grew 17% year-over-year driven by record production from our whole loan correspondent channel, which achieved nearly $12 billion in loan fundings. With respect to MSR, we enhanced our leadership in the sector, growing our portfolio by 24% year-over-year and expanding our recapture and subservicing relationships. As we noted in our Investor Day in November, our outlook for 2025 is optimistic given favorable dynamics across each of our businesses. Agency MBS continues to provide attractive returns while an improved supply and demand picture, decreasing financing costs and a steeper yield curve are additional sector tailwinds. Meanwhile, our Residential Credit and MSR portfolios are well-positioned for further growth given Annaly’s deep capital base and strategic relationships with originators. As always, we remain prepared for continued volatility given our low leverage, ample liquidity and dynamic hedging and portfolio management.”