Annaly Posts $1B Third-Quarter Loss as Shares Sit Near 52-Week Low
NLY is trading near its 52-week low of $17.7 (2.6% above the low).
Summary
Annaly swung to a $1B loss in the third quarter, a loss of $1.36 per share, a sharp reversal from the $1.06 GAAP EPS it reported for Q2 in its July 10-Q. The mortgage REIT posted Q3 earnings available for distribution of $0.80 per share. The company is already trading near its 52-week low of $17.70, so a loss of this size hits a shareholder base that has been under pressure on book value. Annaly has been reshaping its capital stack, having fully redeemed its $442.5M 6.750% Series I preferred in August and finalized that redemption in an October 8-K, which trims preferred dividends but also removes a layer of capital.
At the time of this announcement, NLY was trading at $18.16 on NYSE in the Finance sector, with a market capitalization of approximately $13.8B. The 52-week trading range was $17.70 to $24.52. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.