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Annaly Capital Management Inc (NLY) stock

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NYSE: NLY NYSE Mortgage REITs Next results ~January 27, 2027

Annaly Capital Management Inc is a US-listed company in the mortgage REITs industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$9.3

Valuation models combined (3)

Base case. Range ~$6.6–$11. Weighted average of 3 models (residual income, justified price-to-book, price-to-book vs peers), the residual income counting double.

Price vs value

No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Annaly Capital Management Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 9 sales by directors and officers, last 12 monthsInsider trades
  • Funds437 adding, 270 cuttingOf 41 active managers that changed their stake, 22 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~January 27, 2027 (estimated)

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 30.1% while net income fell 25.3%: a 55pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Share dilution. Diluted shares rose 19.9% in a year.

Latest results

Earnings per share
$0.80 against an average estimate of $0.77: beat by 3.5%
Share reaction
+1.6% in the first session after the results on October 20, 2026, against +0.9% for the S&P 500
Next report
October 20, 2026; average EPS estimate $0.78

Annaly Capital Management's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.4%
  • 1 week+1.3%
  • 1 month-0.1%
  • This year-8.2%
  • 1 year-0.0%
  • 5 years+8.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

EPS (TTM, diluted)
$1.53

Growth

Share count change
+19.9%

Earnings

Last results
October 20, 2026
Next results (est.)
January 27, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Governance
  4. Announcement
  5. Insider trade
  6. Announcement
  7. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Annaly Capital Management Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Annaly Capital Management Inc as a mortgage reit, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.79 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$11 ~$7.7–$15 Primary model, counts double
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$8.6 ~$7.7–$9.7 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$6.6 ~$5.6–$11 Included
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. ~$48 ~$41–$58 Left out: far from the other models (more than 3x away from their median)
Combined value Weighted average of the models that apply: the primary model (residual income) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$9.3 ~$6.6–$11 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Annaly Capital Management Inc with mortgage REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.13 +7% $2.1bn +82%
Next $3.13 +0% $2.3bn +11%

Next year's EPS estimate has moved +0.9% in 90 days, across 13 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.6% on 90 days ago. In the last 30 days, 12 analysts raised Annaly Capital Management Inc's forecast and 0 cut it.

Consensus EPS forecast Annaly Capital Management Inc, last 90 days
$3.06 $3.08 $3.10 $3.12 $3.14 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.08 Current fiscal year, 60 days ago: $3.08 Current fiscal year, 30 days ago: $3.08 Current fiscal year, 7 days ago: $3.08 Current fiscal year, Now: $3.13 $3.13 Next fiscal year, 90 days ago: $3.10 Next fiscal year, 60 days ago: $3.11 Next fiscal year, 30 days ago: $3.11 Next fiscal year, 7 days ago: $3.11 Next fiscal year, Now: $3.13 $3.13

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.08$3.10
60 days ago $3.08$3.11
30 days ago $3.08$3.11
7 days ago $3.08$3.11
Now $3.13$3.13

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.77 $0.80 +3.5%
Jun 2026 $0.75 $0.79 +5.2%
Mar 2026 $0.74 $0.76 +2.3%
Dec 2025 $0.73 $0.74 +1.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 20, 2026

No numeric guidance in Annaly Capital Management Inc's latest earnings release (filed October 20, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

13 analysts, Oct 2026
Buy969%
Hold431%
Sell00%

Monthly trend

  1. Oct 202645413
  2. Sep 202645413
  3. Aug 202645413
  4. Jul 202645413

Counts of recommendations published by analysts covering Annaly Capital Management Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0.01
at average volume
Short interest, 1 month
−100%
to October 15, 2026
Held by institutions
60%
of shares
Held by insiders
0.1%
of shares
Employees
212
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
NLY+3%−21%+5%+8%+40%−8%
Industry peers (median)+26%−21%+17%+3%+6%−21%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
NLY50%58%58%58%67%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
NLY−14%−48%−33%−10%−19%−23%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 60% from February 20, 2020 to April 3, 2020. Getting back needed a 151% gain, reached on April 29, 2021, 391 days after the low.

Price behaviour

52-week range
$17.72 – $22.86
From 52-week high
−19.1%
vs 50-day average
−6.5%
vs 200-day average
−10.4%
Volatility (1 year)
20%
Beta vs S&P 500
0.60

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±1.2%
After a week
6 up, 6 down
typical move ±2.4%
After a month
7 up, 4 down
typical move ±3.8%
Results releasedNext dayS&P 500 next day5 days21 days
October 20, 2026 +1.6% +0.9% +3.5% —
July 21, 2026 −1.2% +0.7% +2.2% +4.6%
April 21, 2026 −0.1% +0.4% +0.8% −4.8%
January 28, 2026 −1.5% −0.2% −5.4% −4.6%
October 22, 2025 −0.8% +0.1% −1.9% +2.7%
July 23, 2025 +0.8% +0.9% +0.8% +0.7%
April 30, 2025 −1.0% +0.7% −2.5% −3.4%
January 29, 2025 +2.9% +0.1% +3.2% +10.4%
October 23, 2024 +0.3% −0.7% −1.6% +0.7%
July 24, 2024 −3.3% −2.8% −2.0% −2.2%
April 24, 2024 +0.3% −0.4% +1.8% +3.6%
February 7, 2024 −0.5% +0.9% −2.9% +3.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Dividends, buybacks and capital spending

Dividends (TTM)
$2.2B
Diluted share count
+19.9%
year over year
Dividend payout ratio
198%
of net income paid out

Who owns it

Funds buying and selling
Reported value
$9.8B
Institutions reporting
782
Shares held vs prior quarter
▲ 4.7%
Positions opened / closed
77 / 64

Top buyers and sellers, Q2 2026: 437 institutions bought and 270 sold ; the biggest buyer was Blackrock, Inc (+5.5M shares) and the biggest seller Price T Rowe Associates Inc (−11.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $2B 87.2M 19.9% ▲ 6.7%
Vanguard Capital Management LLC $736M 32.9M 7.5% ▲ 2.8%
Vanguard Portfolio Management LLC $699M 31.3M 7.1% ▲ 1.6%
State Street Corp $679M 29.4M 6.9% ▲ 4.5%
Geode Capital Management, LLC $465M 20.8M 4.7% ▲ 4.4%
FMR LLC $319M 14.3M 3.3% ▲ 0.3%
Allspring Global Investments Holdings, LLC $256M 11.5M 2.6% ▼ 14.5%
Norges Bank $201M 9.0M 2.0% —
Northern Trust Corp $173M 7.8M 1.8% ▲ 4.3%
Invesco Ltd. $173M 7.7M 1.8% ▲ 14.4%
Price T Rowe Associates Inc $160M 7.2M 1.6% ▼ 61.1%
Citadel Advisors LLC $151M 6.7M 1.5% ▲ 119.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Annaly Capital Management Inc's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $7M 9 trades by 4 insiders · 100% under pre-set plans
Net ▼ $7M net selling
Insider Date Trade Shares Price Value
Finkelstein David L CEO and Co-CIO August 3, 2026 Sell pre-set plan 50,000 $22.89 $1.1M
Wolfe Serena Chief Financial Officer May 4, 2026 Sell pre-set plan 16,537 $22.48 $371,752
Finkelstein David L CEO and Co-CIO April 27, 2026 Sell pre-set plan 50,000 $22.88 $1.1M
Campbell Steven Francis President and COO February 25, 2026 Sell pre-set plan 26,491 $22.83 $604,790
Campbell Steven Francis President and COO February 18, 2026 Sell pre-set plan 28,225 $23.12 $652,562
Wolfe Serena Chief Financial Officer February 18, 2026 Sell pre-set plan 16,536 $23.14 $382,643
Finkelstein David L CEO and Co-CIO February 18, 2026 Sell pre-set plan 50,000 $23.13 $1.2M
Green Anthony C Chief Corporate Officer, CLO November 3, 2025 Sell pre-set plan 22,499 $21.15 $475,854
Finkelstein David L CEO and Co-CIO November 3, 2025 Sell pre-set plan 50,000 $21.16 $1.1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 27 trades and filings

No trades in Annaly Capital Management Inc disclosed in the last 12 months; 27 earlier trades on record.

  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded March 6, 2023, filed April 17, 2023
  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded March 1, 2023, filed April 17, 2023
  • Bob Gibbs(R-OH 7):Purchase, $1,001 - $15,000, traded January 8, 2020, filed January 13, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 20, 2026
  • July 21, 2026
  • April 21, 2026
  • January 28, 2026
  • October 22, 2025
  • July 23, 2025

Recent SEC filings

Data status

When each part of this page on Annaly Capital Management Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Annaly Capital Management Inc in brief

What does Annaly Capital Management Inc do?
Annaly Capital Management Inc is a US-listed company in the mortgage REITs industry. Its financial year ends in December.
What is Annaly Capital Management Inc's stock ticker?
Annaly Capital Management Inc trades under the ticker NLY on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Annaly Capital Management Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Does Annaly Capital Management Inc pay a dividend?
Yes: Annaly Capital Management Inc paid $2.2B in dividends over the trailing twelve months and a payout ratio of 197.8%.
Are insiders buying or selling Annaly Capital Management Inc stock?
Over the last 12 months, Annaly Capital Management Inc's directors and officers reported 0 open-market purchases and 9 sales on Form 4. The insider trading page charts every trade.
When is Annaly Capital Management Inc's next earnings date?
Around January 27, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Annaly Capital Management Inc announces its own schedule.