**Annaly Capital Management Reports Strong Financial Performance in 2025**

Annaly Capital Management Inc. (NYSE: NLY) has released its 10-K filing for the fiscal year ended December 31, 2025, showcasing a significant improvement in financial performance compared to the previous year. The company reported net income of $2.05 billion, a substantial increase from the $1.01 billion reported in 2024. This translates to a net income per share available to common stockholders of $2.92, compared to $1.62 in the prior year. The company's investment portfolio reached $132.05 billion, up from $98.19 billion in 2024, reflecting strategic capital allocation across its Agency, Residential Credit, and Mortgage Servicing Rights (MSR) groups.

The increase in net income was primarily driven by a favorable change in net gains on investments and other, which amounted to $1.75 billion in 2025 compared to a loss of $1.85 billion in 2024. Net interest income also contributed positively, increasing to $1.14 billion from $247.8 million in the previous year. Additionally, net servicing income rose to $519.3 million from $435.9 million. These gains were partially offset by a decrease in net gains on derivatives, which fell to a loss of $1.21 billion from a gain of $2.27 billion in 2024. General and administrative expenses increased to $199.6 million from $171.4 million, reflecting investments in systems, infrastructure, and personnel.

Annaly's strategic focus in 2025 included expanding its Agency MBS portfolio, growing its residential credit business through strategic relationships with mortgage originators, and increasing its MSR portfolio. The company's capital allocation policy remained flexible, allowing it to adapt to changing market conditions and pursue attractive risk-adjusted returns. The company maintained a conservative economic leverage ratio of 5.6:1, slightly higher than the 5.5:1 reported in 2024. The company also continued to utilize its Onslow Bay Financial LLC subsidiary to issue securitizations backed by residential whole loans, with 29 OBX securitizations issued during the year, totaling $15.2 billion.

Looking ahead, Annaly intends to continue its strategy of generating net income for distribution to stockholders through prudent management of its diversified investment strategies. The company will continue to monitor market conditions and adjust its capital allocation policy as needed. Annaly also intends to distribute to stockholders aggregate dividends equaling at least 90% of its REIT taxable income to maintain its qualification as a REIT. The company's website and LinkedIn account will continue to serve as channels for distributing company information, including material updates for investors.

About ANNALY CAPITAL MANAGEMENT INC

Annaly Capital Management Inc. is a diversified capital manager specializing in mortgage finance, primarily investing in Agency mortgage-backed securities, non-Agency residential loans, and mortgage servicing rights. With a focus on generating net income for shareholders, Annaly leverages its extensive experience and strategic partnerships to optimize returns. The company targets a broad market opportunity in real estate investments while maintaining a strong commitment to risk management and operational efficiency.

This description was generated via AI from an annual report. Updated 8 months ago.

About 10-K Filings

A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.

Key points about the 10-K:

  • Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
  • Content: It includes:
    • Detailed financial statements audited by an independent accounting firm
    • Management's Discussion and Analysis (MD&A) of financial condition and results
    • Description of the company's business, properties, and legal proceedings
    • Risk factors and market risks
    • Executive compensation and corporate governance information
  • Importance: Considered the most comprehensive and important document a public company files with the SEC.
  • Length: Often exceeds 100 pages due to its extensive and detailed nature.

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