Headquarters: New York, NY, United States
Founded: February 18, 1997
CEO: Mr. David L. Finkelstein C.F.A.
USD as of April 1, 2022
Annaly Capital Management, Inc. is a mortgage real estate investment trust, investing and financing in residential and commercial properties. As a diversified capital manager, it relies on mortgage-backed securities, loans, equity, and other commercial real estate investments in both the residential and commercial markets to generate and distribute income to its shareholders.
Annaly Capital Management, Inc., a diversified capital manager, engages in mortgage finance and corporate middle market lending. The company invests in agency mortgage-backed securities, mortgage servicing rights, Agency commercial mortgage-backed securities, non-Agency residential mortgage assets, residential mortgage loans, credit risk transfer securities, corporate debts, and other commercial real estate investments. It has elected to be taxed as a real estate investment trust (REIT). As a REIT, it is not subject to federal income tax to the extent that it distributes its taxable income to its shareholders. The company was founded in 1996 and is based in New York, New York.
Annaly Capital Management is one of the largest mortgage real estate investment trusts. It is organized in Maryland with its principal office in New York City. The company borrows money, primarily via short term repurchase agreements, and reinvests the proceeds in asset-backed securities. As of December 31, 2019, 93% of the company's assets were mortgage-backed securities issued by either Fannie Mae or Freddie Mac. The company generates profits from the net interest spread between the interest earned from its assets and its borrowing costs, which is amplified from the use of leverage. As of December 31, 2019, the company had a debt-to-equity ratio of 7.2. As of December 31, 2019, the weighted average days to maturity of its repurchase agreements was 65 days. The company is ranked 910th on the Fortune 500. The name of the company came from the name of the area in Ireland that was ruled by the ancestors of the company's founder.
Source: Wikipedia, retrieved on March 31, 2022, 8:42 p.m.
Founder(s): Michael A. J. Farrell and Wellington Denahan
David L. Finkelstein, CEO & CIO Serena Wolfe, CFO
Net income: -$2.299 billion (2019)
Total assets: $130.295 billion (2019)
Total equity: $15.796 billion (2019)