Annaly Capital Management, Inc. operates as a mortgage real estate investment trust (REIT). The company owns a portfolio of real estate related investments, including mortgage pass-through certificates, collateralized mortgage obligations (CMOs), agency callable debentures, other securities representing interests in or obligations backed by pools of mortgage loans, commercial real estate assets and corporate debt. The company owns a portfolio of real estate related investments. Business The company’s business operations primarily include the following: Annaly: The company’s parent, Annaly, invests primarily in various types of agency mortgage-backed securities and related derivatives to hedge these investments. Annaly Commercial Real Estate Group, Inc. (ACREG): The company’s wholly-owned subsidiary, ACREG, engages in acquiring, financing, and managing commercial mortgage loans and other commercial real estate debt, commercial mortgage-backed securities and other commercial real estate-related assets. RCap Securities, Inc. (RCap): The company’s wholly-owned subsidiary, RCap, operates as a broker-dealer and is a member of the Financial Industry Regulatory Authority. Fixed Income Discount Advisory Company (FIDAC): The company’s wholly-owned subsidiary, FIDAC, operates as a Securities and Exchange Commission Registered Investment Advisor and manages an affiliated REIT for which it earns fee income. Annaly Middle Market Lending LLC (MML): The company’s wholly-owned subsidiary, MML, engages in corporate middle market lending transactions. Shannon Funding LLC (Shannon): The company’s wholly-owned subsidiary, Shannon, acquires residential mortgage loans and provides warehouse financing to residential mortgage originators in the United States. Targeted Asset Class Agency Mortgage-Backed Securities: The company’s primary investments consist of agency pass-through certificates, CMOs issued or guaranteed by Federal Home Loan Mortgage Corporation (Freddie Mac), Federal National Mortgage Association (Fannie Mae) or Government National Mortgage Association, interest-only securities and inverse floaters. These securities are backed by single-family or multi-family residences with loan maturities typically ranging from 15 to 40 years and might have fixed or floating coupons. To-be-announced Forward Contracts (TBAs): The company purchases and sells TBAs, which are forward contracts for agency mortgage-backed securities. Agency Debentures: The company invests in debt issued by Freddie Mac, Fannie Mae, or the Federal Home Loan Banks. These debentures are not backed by collateral, but by the creditworthiness of the issuer. Commercial Real Estate: The company, through ACREG, originates and acquires commercial real estate debt, including commercial mortgage loans, commercial mortgage-backed securities, B-notes, mezzanine loans, preferred equity, and other commercial real estate-related debt investments. The company also acquires real property for current cash flow, long-term appreciation and earnings growth. Other Mortgage Related Investments: On a limited basis, the company might invest in other mortgage related investments, including investments in individual residential loans, pools of loans, single-family and multi-family privately-issued certificates that are not issued by one of the agencies, including agency risk sharing transactions issued by Fannie Mae and Freddie Mac, and similarly structured transactions arranged by third party market participants. Corporate Debt: The company, through MML, invests a small percentage of its assets directly in the ownership of corporate loans for middle market companies. Tax Status The company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended. As a result, the company is not subject to Federal or State income taxation at the corporate level to the extent it distributes annually approximately 90% of its REIT taxable income to its shareholders and satisfies certain other requirements. History Annaly Capital Management, Inc., a Maryland corporation, was founded in 1996. The company commenced its operations in 1997.
annaly capital management in
(NLY:New York Consolidated)
1211 Avenue of the Americas
New York, NY 10036
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