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Annaly Capital Management, Inc.

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In first-quarter 2018, Annaly reported core earnings, excluding premium amortization adjustment (PAA) of 30 cents per share, in line with the Zacks Consensus Estimate. Net interest income (NII) in the quarter totaled $512.1 million, representing sequential growth of 20%. Importantly, the company announced its plan to acquire MTGE Investment Corp for $900 million. The company’s prudent selection of assets, diversified investment and financing options, as well as exposure to high-quality mortgage-backed securities (MBSs) are anticipated to support bottom-line growth, going forward. Nonetheless, the company faces stiff competition from other financial institutions. Further, adverse macro-economic conditions and any rise in rate of interest might add to the company’s woes. Moreover, shares of Annaly have underperformed the industry, in the past six months.

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