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NEW YORK--(BUSINESS WIRE)--In accordance with the terms of Annaly's 6.95% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Series F Preferred Stock”), the Board has declared a Series F Preferred Stock cash dividend for the fourth quarter of 2024 of $0.616143 per share of Series F Preferred Stock, which reflects a rate of 9.85828%, equal to three-month CME Term SOFR (plus a spread adjustment of 0.26161%) on the Dividend Determination date plus a spread of 4.993%. In accord.

Annaly Capital preferreds offer near double-digit yields and stable equity coverage, making them attractive even in a Fed-cutting environment. We take a look at the NLY preferreds trio in the context of the latest earnings release. NLY's modest leverage and common share issuance support preferreds, with NLY.PR.I as our pick for better yield and lower redemption risk.

Investors need to pay close attention to Annaly Capital (NLY) stock based on the movements in the options market lately.

These companies could slash their high-yielding payouts in the future.

Annaly Capital Management is well-positioned to benefit from the Fed's recent 50 bps rate cut, enhancing its net interest margins and book value growth. The mortgage REIT covered its dividend with distributable earnings in 3Q24, maintaining a robust pay-out ratio despite a slight deterioration in dividend metrics. Annaly's stock trades at a slight 2% premium to book value, with potential for further valuation expansion as interest rates continue to fall.

The mortgage REIT is seeing tailwinds in its business.

Annaly Capital Management barely makes enough money to cover its high-yielding dividend.

Annaly Capital Management, Inc. (NYSE:NLY ) Q3 2024 Results Conference Call October 24, 2024 9:00 AM ET Company Participants Sean Kensil - Director and Investor Relations David Finkelstein - Chief Executive Officer and Chief Investment Officer Serena Wolfe - Chief Financial Officer Mike Fania - Deputy Chief Investment Officer and Head of Residential Credit V.S. Srinivasan - Head of Agency Ken Adler - Head of Mortgage Servicing Rights and Head of Portfolio Conference Call Participants Richard Shane - JPMorgan Bose George - KBW Doug Harter - UBS Jason Weaver - Jones Trading Eric Hagen - BTIG Harsh Hemnani - Green Street Jason Stewart - Janney Montgomery Scott Don Fandetti - Wells Fargo Trevor Cranston - Citizens JMP Operator Good morning, and welcome to the Third Quarter 2024 Earnings Call for Annaly Capital Management.

NLY's Q3 2024 earnings reflect a year-over-year decline in its BVPS. Yet, a rise in NII and average yield on interest-earning assets offers some support.