RBC cuts target for Annaly Capital Management stock to USD 21.00

Published on 10/24/2026 at 19:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Annaly earned USD 0.80 per share in the third quarter of 2026. Annaly Capital Management stock costs EUR 16.39 on October 24, 2026 at 1:04 p.m. CEST.

Analyst target and earnings

RBC cut its Annaly target from USD 25.00 to USD 21.00 on October 22, 2026.
Annaly reported USD 0.80 in earnings available for distribution per share for the third quarter of 2026.
Annaly stock costs EUR 16.39 at Lang & Schwarz on October 24, 2026 at 1:04 p.m. CEST.
Book value per common share was USD 17.86 as of September 30, 2026.

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RBC cut its price target for Annaly Capital Management from USD 25.00 to USD 21.00 on October 22, 2026, while keeping an Outperform rating, according to MarketScreener. Annaly Capital Management stock costs EUR 16.39 at Lang & Schwarz on October 24, 2026 at 1:04 p.m. CEST.

RBC trims its target

The target reduction leaves USD 21.00 as RBC's stated valuation for the mortgage real estate investment trust. MarketScreener reported that the firm retained its Outperform rating on October 22, 2026, giving the analyst action a clear split between a lower valuation level and an unchanged rating.

MarketScreener also listed 13 analysts in its consensus data, with an average target of USD 21.68 and an Outperform mean consensus. Those figures provide a broader comparison with RBC's USD 21.00 target, although the individual estimates cover different research views.

Third-quarter earnings held up

Annaly reported earnings available for distribution of USD 0.80 per average common share for the quarter ended September 30, 2026. The figure exceeded the USD 0.75 quarterly common dividend by USD 0.05 per share, according to Seeking Alpha.

The same release reported GAAP net income of negative USD 1.36 per average common share and an economic return of negative 7.60 percent for the third quarter. Book value per common share was USD 17.86 on September 30, 2026, compared with USD 20.15 on June 30, 2026.

Portfolio scale and valuation

Annaly's total portfolio stood at USD 106.5 billion at the end of the third quarter, including USD 91.8 billion in its Agency portfolio. Residential Credit represented USD 10.4 billion, while the mortgage servicing rights portfolio reached USD 4.3 billion, according to Seeking Alpha.

Annaly's market capitalization was USD 13.8 billion as of October 23, 2026, with a trailing price-to-earnings ratio of 12.74. AGNC Investment had a USD 10.5 billion market capitalization and a 12.63 percent dividend yield, while Starwood Property Trust had USD 4.7 billion and a 12.00 percent yield on the same date.

Dividend coverage remains central

The third-quarter distribution figure exceeded the common dividend by USD 0.05 per share, but the negative economic return and lower book value show why mortgage spreads and hedging remain important valuation factors. Annaly's next scheduled shareholder payment was USD 0.75 per share on October 30, 2026, as announced in September.

Target cut meets fresh earnings

RBC's USD 21.00 target and Annaly's USD 17.86 book value per share frame the stock from two different angles: expected value and balance-sheet value. The next market assessment will depend on whether distribution earnings continue to cover the dividend while book value stabilizes.

The stock was trading at EUR 16.39 at Lang & Schwarz on October 24, 2026 at 1:04 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Annaly Capital Management stock.