Boston, MA, 11/12/2013 (wallstreetpr) – The shares of the New York based Annaly Capital Management (NYSE:NLY) continue to slide after the mortgage real estate investment trust presented a poor show of its third quarter results. As disclosed by the reports, the company’s earnings stood at 28 cents which were down by 6 cents as against the market estimate of 34 cents. These earnings are down by a cent from its earnings of 29 cents in the previous quarter.
The results of the third quarter report have mirrored the impact that the monetary policy has on the mortgage market and also the uncertainties associated with the future course of the policies. Resultantly, the book value of the companyhas also fallen down per share to $12.70 as of September, whichaccounts to a 2.5% consecutive decline and around a 23.5% decrease over a year.
The company’salso witnessed a decline in its entire net interest income, which was recorded to be $551.7 million, a 4.8% decline year over year. Notably, the interest income figures were is also ahead of the market consensus which was set at $333 million. In spite of mortgage market running in rough phase, the company is seen to be trying to augment its commercial investment portfolio, which includes the corporate debt and commercial real estate. The portfolio represents 11% of the stock holder’s equity.The commercial real estate investments have also seen a progressive increment of 30% as it was recorded at $1.3 billion in September from that of $1.0 billion in the previous quarter. The annual yield of interest accruing to assets is 2.82% whereas the annualized cost of funds on an average interest bearing liabilities is 1.81%., which leads to an average interest rate of 1.01%.
After the recent announcement of the quarterly results the company’s shares have slipped by 5.94 percent. During the Monday’s trading session, the shares recorded a 2.63 drop to close at $10.38.
