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Annaly Capital Management sees net interest income tick higher YOY in Q2

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Annaly Capital Management sees net interest income tick higher YOY in Q2

Annaly Capital Management Inc. reported a second-quarter net loss related to common stockholders of $8.8 million, or a loss of 1 cent per share, compared with a net loss related to common stockholders of $296.1 million, or a loss of 32 cents per share, in the year-ago quarter.

Second-quarter core earnings were $259.9 million, or 23 cents per average common share, compared with $196.6 million, or 19 cents per average common share, in the prior-year quarter.

Excluding premium amortization adjustment, second-quarter core earnings were $332.6 million, or 30 cents per average common share, compared with $282.2 million, or 29 cents per average common share, in the year-ago quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 30 cents.

Net interest income was $315.1 million, compared with $304.4 million in the year-ago period.

The company's leverage was 6.4x at the end of the second quarter, compared with 6.1x at March 31, 2017, and unchanged from Dec. 31, 2016.

On a GAAP basis, the company's annualized return on average equity was 0.46% as of June 30, compared with an annualized return on average equity of 13.97% as of March 31 and annualized loss on average equity of 9.60% as of June 30, 2016. On a core earnings basis, Annaly Capital's annualized core return on average equity was 10.54% as of June 30, 10.66% as of March 31 and 9.73% as of June 30, 2016.

Book value per common share was $11.19 as of June 30, compared with $11.23 as of March 31 and $11.50 as of June 30, 2016.