Overview

* Annaly Capital Q3 GAAP net income per share rises to $1.21

* Earnings available for distribution per share steady at $0.73

* Annaly's Agency portfolio grows 10%, boosting overall performance

Outlook

* Annaly maintains an optimistic outlook amid declining volatility and potential Fed rate cuts

* Company plans to prudently grow portfolio while broadening housing finance capabilities

Result Drivers

* AGENCY PORTFOLIO GROWTH - Annaly's Agency portfolio increased by 10%, driven by capital deployment into specified pools with call protection

* RESIDENTIAL CREDIT EXPANSION - Residential Credit portfolio rose 4% due to record correspondent channel activity and securitization issuance

* MSR PORTFOLIO INCREASE - MSR portfolio grew 6% with new subservicing relationship and MSR purchase agreement with PennyMac

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $843.06

Income mln

Q3 Net $275.75

Interest mln

Income

Q3 $835.24

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy"

* Wall Street's median 12-month price target for Annaly Capital Management Inc ( NLY/PJ ) is $22.00, about 4.3% above its October 21 closing price of $21.05

* The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)