Annaly Capital Management, Inc., a real estate investment trust (REIT), owns a portfolio of real estate related investments. The company’s real estate related investments include 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 loans. It also invests primarily in various types of agency mortgage-backed securities and related derivatives to hedge these investments. Businesses The company’s business operations primarily comprise the following: Annaly Commercial Real Estate Group, Inc. (ACREG): The company acquired ACREG during 2013. ACREG is engaged 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): RCap is a wholly-owned subsidiary that operates as a broker-dealer and is a member of the Financial Industry Regulatory Authority. Fixed Income Discount Advisory Company (FIDAC): FIDAC is a wholly-owned subsidiary that manages an affiliated REIT for which it earns fee income. Annaly Middle Market Lending LLC (MML): MML is a wholly-owned subsidiary that is engaged in corporate middle market lending transactions. Shannon Funding LLC (Shannon): Shannon is a wholly-owned subsidiary that 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 the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal National Mortgage Association (Fannie Mae), or the Government National Mortgage Association; interest-only securities; and inverse floaters. These securities are backed by single-family or multi-family residences with loans 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, and by the creditworthiness of the issuer. Commercial Real Estate: 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 invests in commercial real estate property directly or as a result of a loan workout and the exercise of its remedies under the mortgage documents. 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, and single-family and multi-family privately-issued certificates that are not issued by one of the agencies. Corporate Debt: MML invests a small percentage of the company’s 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
1211 Avenue of the Americas
New York, NY 10036
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