Annaly Capital Management, Inc. Q2 2025 Earnings Recap

Annaly Capital Management reported a strong second quarter of 2025, achieving an economic return of 0.7% and earnings available for distribution of $0.73, outperforming its dividend for the seventh consecutive quarter.

Key Takeaways

• Generated a total shareholder return of over 10% year-to-date, supported by effective capital management and favorable market conditions.
• Successfully raised over $750 million in accretive capital to bolster the agency sector, growing the agency portfolio by approximately $4.5 billion in notional terms.
• The company maintains a balanced risk profile with a hedge allocation favoring swaps, while optimistic about potential catalysts in the agency mortgage-backed securities market.