Why Annaly Capital Management Stock Got Rocked Today
Annaly Capital Management (NYSE: NLY), a mortgage real estate investment trust (REIT) perhaps best known for its ultra-high-yield dividend, had a forgettable day on the market Thursday. The company's share price dipped by almost 6% after it reported its latest quarterly results.
Annaly unveiled its fourth-quarter figures after market hours on Wednesday, revealing that its net interest income came in at just over $135 million. That was well down from almost $361 million in the same quarter the previous year; it also fell drastically short of the average analyst estimate of $406 million.
The picture was a little brighter on the bottom line, where Annaly improved its non-generally acceptable accounting principles (non-GAAP, adjusted) net income by 2% year over year to slightly over $448 million ($0.89 per share). The collective prognosticator estimate, however, was $0.93 per share.
Source Fool.com
