Annaly Capital Management, Inc. (NLY) Stock Price & Analysis
Annaly Capital Management, Inc. (NLY) closed at USD 18.34 on Thursday, October 22, 2026, up 1.83% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 18.01; the Oct 22, 2026 session ranged USD 18–18.57 on volume of 13,788,144 shares. Market capitalization is $13.82B, with a 52-week range of USD 17.7–24.52 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 11:19 UTC.
Also available as compact Markdown for AI agents: nexqual.com/NLY.md
Key facts (NLY)
- Valuation: P/E 4.7x (avg 8.3x at the last 2 fiscal year-ends).
- Earnings quality: non-operating income $1.03B vs operating income null over the last four quarters; P/E excluding non-operating income ≈7.2x (estimate: non-operating income taxed at the company's 0% effective rate).
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $2.7M; 0 not under a Rule 10b5-1 plan ($0K); 2 by opportunistic insiders (0 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (13 analysts), mean target USD 21.68 (range 19.5–25).
- Total return with dividends: 1Y +0.5% vs S&P 500 +14.9%; 5Y +5.0% vs S&P 500 +80.3%.
- Next earnings: 2026-10-20, EPS estimate USD 0.79, revenue estimate $534M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (NLY)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Net income | $2.39B | $1.73B | -$1.64B | $1.00B | $2.03B | $2.95B |
| EPS (diluted) | $6.39 | $3.92 | -$3.61 | $1.62 | $2.92 | — |
| Cash + short-term investments | $1.34B | $1.58B | $1.41B | $1.49B | $2.04B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (NLY)
P/E 4.7x · P/E ex non-operating (est.) ≈7.2x · P/B 0.8x · Earnings yield 21.35% · Dividend yield (paid, TTM) 15.18%
P/E at fiscal year-ends: Dec 2025 7.1x, Dec 2024 9.5x.
Insider sales (SEC Form 4, open-market, last ~7 months) (NLY)
3 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-03 | Finkelstein David L | CEO and Co-CIO | 50,000 | $1.1M | 6.2% | Yes (adopted November 12, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-04 | Wolfe Serena | Chief Financial Officer | 16,537 | $372K | 7.6% | Yes (adopted November 4, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-27 | Finkelstein David L | CEO and Co-CIO | 50,000 | $1.1M | 6% | Yes (adopted May 16, 2024) | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (NLY)
Consensus Buy (mean 2.00 on a 1–5 scale), 13 analysts; mean target USD 21.68 (low 19.5, high 25).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | RBC Capital | Target lowered | Outperform | $25 → $21 |
| 2026-10-22 | Barclays | Target lowered | Equal-Weight | $24 → $21 |
| 2026-10-22 | Wells Fargo | Target lowered | Overweight | $24 → $22 |
| 2026-10-22 | JP Morgan | Target raised | Overweight | $19 → $19.5 |
| 2026-10-21 | Jones Trading | Target lowered | Buy | $25 → $21 |
| 2026-10-09 | Piper Sandler | Target lowered | Overweight | $25 → $21.5 |
| 2026-10-07 | BTIG | Target lowered | Buy | $24 → $21 |
| 2026-07-24 | JP Morgan | Target lowered | Overweight | $26 → $24 |
| 2026-07-23 | Wells Fargo | Target lowered | Overweight | $25 → $24 |
| 2026-07-17 | JP Morgan | Target raised | Overweight | $24 → $26 |
| 2026-07-02 | Piper Sandler | Target raised | Overweight | $24.5 → $25 |
Total return (dividends reinvested) (NLY)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +0.5% | +5.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +0.5% | +1.0% |
| Volatility (annualized) | 20.4% | 28.3% |
| Max drawdown | -22.5% (Aug 2026→Oct 2026) | -46.2% (Nov 2021→Oct 2022) |
NLY company outlook (results filed Oct 20, 2026)
- “(6) MSR amortization utilizes purchase date cash flow assumptions and actual unpaid principal balances and is calculated as the difference between projected MSR yield income and net servicing income for the period.”
Quoted word-for-word from the SEC 8-K results press release.
NLY analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $0.79 | $0.77 | +3.4% | $533.9M | 5 |
| Next quarter (ends Mar 2027) | $0.78 | $0.75 | +4.3% | $561.2M | 12 |
| Current fiscal year (ends Dec 2026) | $3.14 | $3.06 | +2.7% | $2.02B | 7 |
| Next fiscal year (ends Dec 2027) | $3.11 | $3.03 | +2.5% | $2.34B | 13 |
NLY options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 29.7% | ±3.6% |
| Nov 6, 2026 | 14 | 28.2% | ±4.6% |
| Nov 13, 2026 | 21 | 25.2% | ±5.0% |
| Nov 20, 2026 | 28 | 26.5% | ±6.0% |
| Nov 27, 2026 | 35 | 28.7% | ±7.3% |
| Dec 4, 2026 | 42 | 25.4% | ±7.0% |
| Dec 18, 2026 | 56 | 26.2% | ±8.5% |
| Jan 15, 2027 | 84 | 24.7% | ±10.9% |
30-day implied volatility 25.7% vs 29.9% realized over the last 30 trading days. Put/call ratio (volume) 0.16. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 11:19 UTC)
| Price | USD 18.34 |
|---|---|
| Change | ▲ 1.83% (up) |
| Previous Close | USD 18.01 |
| Open | USD 18.01 |
| Day Range | USD 18 – 18.57 |
| 52-Week Range | USD 17.7 – 24.52 |
| Volume | 13,788,144 shares |
| Market Cap | $13.82B |
| Exchange | NYQ |
Technical Analysis (NLY)
Nexqual's technical model rates NLY "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 11:19 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 35.24 (neutral) |
| vs SMA50 | Below (USD 20.91) |
| MACD | -0.8 (negative) |
Analyst Ratings (NLY)
Wall Street analysts rate NLY "Buy" based on 13 analysts, with a mean price target of USD 21.68 (range USD 19.5–25), per Nexqual as of October 23, 2026 at 11:19 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 13 |
| Mean Target | USD 21.68 |
| High Target | USD 25 |
| Low Target | USD 19.5 |
| Buy / Hold / Sell | 9 / 4 / 0 |
Earnings (NLY)
| Next Earnings Date | 2026-10-20 |
|---|---|
| EPS Estimate | USD 0.79 |
| Revenue Estimate | $533.85M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 0.8 vs est 0.77 ▲ beat |
| 2026-06-30 | USD 0.79 vs est 0.75 ▲ beat |
| 2026-03-31 | USD 0.76 vs est 0.74 ▲ beat |
| 2025-12-31 | USD 0.74 vs est 0.73 ▲ beat |
Source: Nexqual, October 23, 2026 at 11:19 UTC.
Financials & Fundamentals (NLY)
| Total Revenue | $1.39B |
|---|---|
| Gross Margin | +95.12% |
| Operating Margin | +107.33% |
| Profit Margin | +80.27% |
| ROE | +7.35% |
| Debt / Equity | 8.02 |
| Current Ratio | 23.43 |
| Total Cash | $3.42B |
| Total Debt | $127.53B |
Source: Nexqual, October 23, 2026 at 11:19 UTC.
Financial Health Score (NLY)
Nexqual rates Annaly Capital Management, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 11:19 UTC.
| Growth | Strong — Revenue +358% YoY (annual) |
|---|---|
| Profitability | Strong — Net margin 165% |
| Balance Sheet | Weak — $3.42B cash vs $127.5B debt |
| Cash Flow | Solid — Operating cash flow $693M (FY ended Dec 2025, 10-K) |
| Efficiency | Mixed — ROE 7%, ROA 0.8% |
Ownership (NLY)
| Insider Ownership | +0.10% |
|---|---|
| Institutional Ownership | +59.91% |
| Shares Outstanding | 753.71M |
| Float | 783.25M |
| Short % of Float | +3.20% |
Source: Nexqual, October 23, 2026 at 11:19 UTC.
Leadership (NLY)
Annaly Capital Management, Inc. is led by David L. Finkelstein C.F.A., CEO, Co-Chief investment Officer & Director, per Nexqual as of October 23, 2026 at 11:19 UTC.
| CEO, Co-Chief investment Officer & Director | David L. Finkelstein C.F.A. |
|---|---|
| COO & President | Steven Francis Campbell |
| Chief Financial Officer | Serena Iris Wolfe |
| Chief Technology Officer | Sashi Nair |
Major Backers & Investors (NLY)
Notable institutional backers of Annaly Capital Management, Inc. include FMR, LLC, Allspring Global Investments Holdings, LLC, NORGES BANK, according to Nexqual as of October 23, 2026 at 11:19 UTC.
Active Investors
| Investor | Stake |
|---|---|
| FMR, LLC | 1.9% |
| Allspring Global Investments Holdings, LLC | 1.53% |
| NORGES BANK | 1.19% |
| ALLSPRING FUNDS TRUST-Allspring Special Mid Cap Value Fund | 1.19% |
| Invesco | 1.02% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 11.57% |
| Vanguard Group | 8.52% |
| State Street | 3.9% |
| Geode Capital | 2.76% |
| Northern Trust | 1.03% |
Source: Nexqual, October 23, 2026 at 11:19 UTC.
From Annaly Capital Management, Inc.'s Latest SEC 10-K Filing (filed 2026-02-12)
Key Strengths & Strategy (as disclosed to the SEC)
- We have created multiple strategic and capital partnerships across our investment groups including the following: –Annaly Residential Credit Group has established relationships with key mortgage loan originators and aggregators including well-known money center banks, allowing us to efficiently source proprietary originations suited to our risk parameters.
- We have invested in our infrastructure to enhance resiliency, efficiency, cybersecurity and scalability while also ensuring coverage of our target assets.
- Our infrastructure investment has driven operating efficiencies while expanding the platform.
- Our approach to risk management is comprehensive and has been designed to foster a holistic view of risk.
Partnerships
- We have a subsidiary that is registered with the SEC as an investment adviser under the Investment Advisers Act.
Legal & Regulatory Risks (Item 1A, quoted)
- Any new laws, regulations or administrative actions modifying the relationship between Fannie Mae, Freddie Mac and the federal government could affect our business model or business operations.
- Evolving environmental, social and governance-related disclosure requirements and climate-related risks could adversely affect our business and results of operations.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| AGNC | AGNC Investment Corp. | USD 8.89 | ▲ 1.25% |
| RITM | Rithm Capital Corp. | USD 8.68 | ▲ 1.52% |
| STWD | STARWOOD PROPERTY TRUST, INC. S | USD 12.58 | ▲ 3.71% |
| DX | Dynex Capital, Inc. | USD 11.05 | ▼ 0% |
| ARR | ARMOUR Residential REIT, Inc. | USD 12.69 | ▼ 0.94% |
| BXMT | Blackstone Mortgage Trust, Inc. | USD 10.58 | ▲ 3.73% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 11:19 UTC. This page is informational and not investment advice.
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