Earnings Call Summary | Annaly Capital Management Inc(NLY.US) Q1 2024 Earnings Conference
Earnings Call Summary | Annaly Capital Management Inc(NLY.US) Q1 2024 Earnings Conference
The following is a summary of the Annaly Capital Management, Inc. (NLY) Q1 2024 Earnings Call Transcript:
以下是Annaly Capital Management, Inc.（僅限）2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Annaly Capital Management reported a 4.8% economic return for the quarter with Earnings available for distribution (EAD) at $0.64 and leverage at the end of the quarter of 5.6 turns.
Book value per share increased to $19.73 due to asset spread appreciation with minimal interest rate exposure.
Net interest margin reduced to 143 basis points whereas net interest spread decreased by 13 basis points quarter-over-quarter.
Total cost of funds increased to 3.78%, but the company is content with the elevated cost of preferred capital in a floating rate environment.
The company is targeting mid-teen Return on Equities (ROE) based on retaining about 10% market value.
安納利資本管理公司報告稱，本季度經濟回報率爲4.8％，可供分配的收益（EAD）爲0.64美元，本季度末的槓桿率爲5.6倍。
由於資產利差升值且利率敞口最小，每股賬面價值增至19.73美元。
淨利率降至143個點子，而淨利差同比下降了13個點子。
資金總成本增加到3.78％，但該公司對浮動利率環境中優先資本成本的上漲感到滿意。
該公司的目標是在保持約10％的市值的基礎上實現十年中期的股票回報率（ROE）。
Business Progress:
業務進展：
The Residential Credit portfolio and Mortgage Servicing Rights (MSR) portfolio increased in market value to $6.2 billion and $2.7 billion respectively, with an additional commitment of over $100 million in market value acquisition slated for the next quarter.
The weighted average coupon of the Agency mortgage-backed securities (MBS) portfolio increased to 4.76%.
With the success of its established businesses—Agency, Residential Credit, and MSR—the company is prepared to tackle market volatility and potential improvements in rates due to more accommodative monetary policy.
The company anticipates benefits of the QT tapering process to the fixed income markets, including the Agency MBS market.
Given positive results from OBX securities inclusion in the balance sheet, the company is prepared to cover any market cheapening and continue trading.
Future changes may lead to the company taking over servicing instead of current outsourcing for efficiency.
住宅信貸投資組合和抵押貸款服務權（MSR）投資組合的市值分別增加到62億美元和27億美元，並計劃在下一季度額外承諾進行超過1億美元的市值收購。
該機構抵押貸款支持證券（MBS）投資組合的加權平均票面增至4.76％。
隨着其成熟業務——機構、住宅信貸和MSR——的成功，該公司已準備好應對市場波動以及更寬鬆的貨幣政策可能導致的利率改善。
該公司預計，QT縮減計劃將給包括機構MBS市場在內的固定收益市場帶來好處。
鑑於將OBX證券納入資產負債表的積極業績，該公司已準備好應對任何價格低迷的市場並繼續交易。
爲了提高效率，未來的變化可能會導致公司接管服務，而不是目前的外包。
More details: Annaly Capital Management Inc IR
更多詳情： 安納利資本管理公司投資者關係
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。