Annaly Capital Breaks Ground with Robust Q2 2026 Earnings

Annaly Capital Management, Inc. has just unveiled a Q2 2026 earnings report that defied market expectations, delivering a 5.5% economic return amid a backdrop of rising rates and a robust housing finance model.

Sustainable Income: 5.5% Economic Return

■5.5% economic return

■1.7% book value growth

■$0.75 dividend hike

Re‑Financing & Portfolio Optimization

■$7.1B residential credit acquisition

■$95B GSE MBS portfolio

■5.6x economic leverage

Dual Core Strategy: MSR & GSE

■MSR: low note rate, high quality

■GSE MBS: production‑coupon focus

■Swap hedges to guard against rate tightening

Light‑Footprint Operations: Liquidity & Flexibility

■$8.3B warehouse capacity

■$9.6B total asset liquidity

■OpEx/Equity 1.4%

Forward Outlook: Dividend, Risk & Growth

■9 consecutive quarters of dividend increases

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Markets are witnessing Annaly’s ability to generate high returns even in a low‑rate environment, signaling leadership in mortgage‑sponsored securities. By balancing its MSR and GSE portfolios, the firm remains resilient to rate hikes while reinforcing investor confidence through dividend growth.