Annaly Capital Management, Inc. Reports Q2 2026 Results: Key Highlights and Investor Insights
Executive Summary
Annaly Capital Management, Inc. (“Annaly” or the “Company”), a leading Real Estate Investment Trust (REIT), has published its Form 10-Q for the quarter ended June 30, 2026. This detailed report outlines Annaly’s financial performance, capital structure, risk profile, and other developments that could influence its share price and are of high importance to shareholders and potential investors.
Key Highlights from the Q2 2026 Report
- Period End: June 30, 2026
- Common Shares Outstanding: 753,714,442 as of July 24, 2026
- Exchange: New York Stock Exchange (NYSE: NLY)
- Other Listed Securities: Series F, G, I, and J Preferred Stock, each with their own trading symbols (NLY.F, NLY.G, NLY.I, NLY.J) and listed on the NYSE
- Regulatory Status: Annaly has filed all required reports for the past 12 months and is in full compliance with SEC reporting requirements.
- Filer Status: Classified as a Non-accelerated filer (not a smaller reporting company, not an emerging growth company, not a shell company)
Potentially Price Sensitive Information for Shareholders
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Large Share Count:
The Company has a substantial number of common shares outstanding (over 753.7 million), which can impact the valuation metrics and potential dilution for shareholders. -
Active Preferred Stock Programs:
Annaly maintains multiple classes of preferred stock (Series F, G, I, J), all actively listed and traded. Any changes to dividends, redemption, or conversions related to these instruments could affect both preferred and common equity holders. -
Share Repurchase Programs:
The Company has ongoing share repurchase programs, including for both common and preferred stock. The continuation or adjustment of these programs may impact supply/demand dynamics and thus the share price. -
Regulatory Compliance:
Annaly is up-to-date on all SEC filings and interactive data requirements, a sign of operational stability and transparency, reducing regulatory risk.
Detailed Financial & Operational Review
1. Capital Structure and Securities
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Common Stock:
- Par value \$0.01 per share
- Listed on NYSE under “NLY”
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Preferred Stock Classes:
- 6.95% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NLY.F)
- 6.50% Series G Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NLY.G)
- 7.50% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NLY.I)
- 8.875% Series J Fixed-Rate Cumulative Redeemable Preferred Stock (NLY.J)
- All are listed on NYSE
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Share Repurchase & At-the-Market (ATM) Programs:
- Active for both common and preferred shares
- Share repurchase programs and ATM sales can affect share float and market price
2. Financial Reporting and Compliance
- Annaly has filed all required reports under Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months.
- The Company has submitted all Interactive Data Files required by SEC rules.
- It is not a smaller reporting company, not an emerging growth company, and not a shell company—signaling Annaly’s status as a large, established REIT.
3. Segment and Risk Management Disclosures
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Risk Management:
- The 10-Q includes extended disclosures on risk management, including fair value measurement, derivatives, and hedging strategies. These sections are crucial for understanding Annaly’s approach to interest rate risk, mortgage portfolio risk, and market volatility.
- Derivatives (such as TBA contracts and swap futures) are actively used to manage exposure, and changes in these practices can have material impacts on earnings and book value.
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Notes on Financial Instruments, Loans, and Mortgage Servicing Rights:
- Details on the composition and risk profile of Annaly’s mortgage assets, securities, and servicing rights are provided, and any material changes here (such as large asset sales, impairments, or acquisitions) could affect valuation.
4. Important Sections for Shareholders
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Management Discussion & Analysis (MD&A):
Investors should closely review the MD&A section for:- Management’s views on the macroeconomic environment
- Interest rate outlook and its impact on the mortgage portfolio and earnings
- Trends in portfolio leverage, hedging, and liquidity
- Any discussion of asset sales, credit losses, or changes in business strategy
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Risk Factors:
The 10-Q includes a dedicated risk factors section. Any new or highlighted risks (such as changes in Fed policy, credit spreads, or regulatory changes) may be highly relevant for share price movements. -
Legal Proceedings and Contingencies:
The notes include information on lease commitments and contingencies, which, if material, could lead to financial liabilities or impact cash flows. -
Website and Social Media Disclosure:
Annaly uses its website and LinkedIn as channels for material news. Investors are advised to monitor these platforms alongside traditional filings, as relevant information may be disclosed there first.
What May Move the Share Price?
- Any changes to the dividend on common or preferred stock, or guidance about future dividends
- Updates regarding significant asset sales, acquisitions, or changes in portfolio composition (e.g., increased/decreased mortgage exposure, hedging adjustments)
- Material impacts from risk management activities, including derivatives performance or fair value adjustments
- Changes or expansions to share repurchase or ATM programs
- New or emerging risk factors identified in the report
- Regulatory developments impacting REITs or the mortgage market
Conclusion for Investors
This quarterly report affirms Annaly’s position as a leading, compliant, and actively managed mortgage REIT. The large share count, active preferred and common share programs, and dynamic risk management strategies are all factors investors should watch closely. While the report does not disclose a specific one-off event that would immediately move the share price, the disclosures on capital structure, risk management, and regulatory status are highly relevant for ongoing valuation and investor sentiment.
Disclaimer
This article is for informational purposes only and does not constitute investment advice. Investors should review the full 10-Q filing and consult with financial advisors before making investment decisions. The author and publisher are not responsible for any actions taken based on this summary.
