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Annaly Capital Management, Inc.
NLY
NYSE·Real Estate·REIT - Mortgage·Mkt cap $16.3B
$22.48
▲ +1.26%
View full research view
Our plain-language verdict, the thesis, risk factors, and what is changing about the business.
View research view52-Week Range
$19.24 - $24.52
P/E
Fwd P/E
Beta
Div Yield
Avg Vol
Shares Out
Mkt Cap
Price action
Price chart
Up 14.9% over the trailing year
Total returns
Price performance
Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.
Why we rate it this way
The thesis at a glance
Bull and bear case · plain-English context across the five lenses we evaluate.
Bull Case
5 reasons
- REIT tax structure enabling tax-efficient dividend distributions to shareholders
- Diversified mortgage and lending portfolio reducing concentration risk
- Deep expertise in mortgage markets and credit analysis since 1996
- Scale and capital resources enabling competitive pricing and deal access
- Established relationships with mortgage originators and servicers
Bear Case
2 risks
- Average volatility.
- Growth premium of 0.9x vs Mortgage REITs peers. Reasonable for this growth rate.
Growth
Revenue decline expected
Net interest margin expansion from strategic asset allocation
Value
Growth premium of 0.9x vs Mortgage REITs peers. Reasonable for this growth rate.
Momentum
Stable
+3.9% over 3m
Quality
Excellent
High-growth business (500% revenue growth, 99% gross margin). Profitable with strong growth momentum.
Dividend
High yield
12.84% yield
Smart-money signal
Who's buying NLY right now
Insider Form 4s, 13F institutional filings, and Congressional disclosures - at a glance.
Earnings track record
Recent earnings results
AI-summarized recap of last quarter, plus the surprise on every print.
Next: Jul 21, 2026
APR 21, 2026
Reported EPS of $0.76 vs $0.74 consensus (+2.7% surprise). Revenue of $341.6M vs $665.7M expected (-48.7%).
EPS surprise · last 4Q
1 of 1 beats
Q2 26
+2.7%
Next: Jul 21, 2026
Revenue trend · last 8Q
—
—
+254%
-49%
+4171%
+1125%
+232%
+567%
Q2 24
Q3 24
Q4 24
Q1 25
Q2 25
Q3 25
Q4 25
Q1 26
$41.9M
$133.1M
$539.1M
$244.5M
$1.8B
$1.6B
$1.8B
$1.6B
Margins · last 8Q
Gross
98.9%
Operating
95.8%
Profit
17.3%
Wall Street consensus
9 analysts · 78% Buy
Live ratings and price targets aggregated across covering analysts.
Buy
78%
Hold
22%
Sell
0%
Median Price Target
$23.00
▲ +2.3% vs $22.48
Latest: Piper Sandler · Jul 2, 2026
1 analyst covering