ANNALY CAPITAL MANAGEMENT INC — Form 8-K
Filed October 20, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 62/100
What the filing says
Annaly reported Q3 2026 GAAP net loss of $1.0 billion ($1.36 per share) vs. Q2 profit of $828M ($1.06 per share). Book value per share collapsed 11.4% from $20.15 to $17.86. Unrealized losses on investments totaled $4.6B (driven by MBS repricing); derivative gains of $3.1B offset partially. Earnings available for distribution (non-GAAP) remained flat at $0.80 per share. Total assets $146.1B; total equity $15.9B; GAAP leverage 8.0x (up from 7.4x); economic leverage 5.9x. Repo agreements $85.5B at 4.08% period-end rate. No specific counterparties or transactions named; this is portfolio mark-to-market driven by interest rate environment.
Why this rating
Book value decline of 11% is material relative to company size ($12.1B market cap); marks sharp reversal from profitable Q2. However, non-GAAP earnings stable; loss driven by accounting mark-to-market, not operational deterioration. Leverage elevated but within policy bands.
See more from October 20, 2026.
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