Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. I'd now like to turn the conference over to Purvi Kamdar. We were certainly careful to take prudent steps during the early phase of the market recovery to ensure we are well positioned to capitalize on the opportunities that are sure to arise. Dr. Hannan is a former Global Lead Partner, National Managing Partner and Vice Chairman of KPMG, LLP, the U.S. member firm of the global audit, tax and advisory services firm KPMG International. Across sectors within commercial, the operating fundamentals remain challenged in hospitality as the average national occupancy rate hovers around 40% and in retail the prolonged shutdown and increasing number of retailer bankruptcies is continuing to weigh on that sector. Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. So is it fair to say that the repurchase will be part of the flaps in terms of using that excess earnings in the short term? This is in large part due to the ongoing decisive actions taken by the Federal Reserve, which have been successful in restoring markets and easing credit strains. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Does that answer your question? As we look at the buyback policy, it's not a point in time estimated, everything changes on a daily basis because asset prices changes in the relative attractiveness of buying back stock versus putting that capital to work in the portfolio changes and if you just think about the immediate accretion of the stock buyback in terms of book value versus the longer-term earnings of the portfolio, there is a trade-off there certainly and we generated 25% accretion from the buyback thus far. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Sure. Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. For the agency derivatives portfolio, I realized you guys maybe [indiscernible] surface very often, but how much of your cost basis was amortized through core earnings in that portfolio last quarter and then with rates having coming down quite a bit, presumably some of those assets are cheap and how are you guys thinking about your footprint in that portfolio? This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Annaly Capital Management, Inc. (NYSE: NLY) (the Company or Annaly) announced today the publication of its third corporate responsibility report for the year 2021, titled Taking Stock of Our Impact. Mr. Haylon has served as Managing Director and Head of Conning North America at Conning, Inc., a global provider of investment management solutions, services and research to the insurance industry, since June 2018. This button displays the currently selected search type. Yeah that's great. We can't say how long that will persist for, but we do think about this for much more than just the quarter or two where we do have the specialist and we're trying to get the appropriate level where we know it's sustainable and that's how we feel about it and if we continue to out-earn it that's perfectly okay because we're given the shareholder a 10.5% dividend yield on their book value. Jun 09, 2022. We don't complete clarity on the economy and some of that runoff could go into the agency sector. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. Our residential portfolio was roughly unchanged quarter-over-quarter at $2.6 billion as modest purchases and mark-to-market increases largely offset sales and portfolio runoff. Enter your email address below to get our daily insider buying and selling report. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. ANNALY@brunswickgroup.com, Navigate to the << Back to Corporate Responsibility CommitteeRisk Committee. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Total reserves now comprise 5.32% of our acreage in MML loan portfolios as of June 30, 2020. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. Liquidity tools have sufficiently supported funding markets and credit facilities have opened channels to credit for businesses, households and local governments, the temporary adjustments to regulations have somewhat encouraged bank lending and most impactful to Annaly's portfolio the asset purchases have supported the smooth functioning of treasury and agency markets. David Finkelstein - President, CEO & Director. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). If you have an ad-blocker enabled you may be blocked from proceeding. There are no executives at Annaly Capital Management Inc getting paid more. New deal activity is primarily relegated to more broadly syndicated loans however, the context first lien executions on larger transactions have tightened 75 basis points to 100 basis points over the past quarter, while traditional middle-market has shown less movement in pricing. Current positions of David Finkelstein. We also announced two leadership changes, Steve Campbell was appointed as Chief Operating Officer and Glenn Votek will retire from his role as Senior Advisor at the end of August while remaining a Director on our board. Mr. Hamilton has served as an Owner and Director of Construction Forms, Inc. (Con Forms), an industrial manufacturing company, since 2013. 1 dividend stock for a LIFETIME of income. That has largely taken delivery of the most negatively convex MBS, which has resulted in a shift to the TBA deliverable across production coupons to more newly originated pools and as a result, nominal carry on production coupons TBAs has improved dramatically thereby adding to returns for TBA holders. June 30, 2022 . Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. Chart Data in Insider Trading History Table. Annaly Capital Management, Inc. (NYSE:NLY) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ETCompany Participants. Annaly Capital Management, Inc. Names David L. Finkelstein Chief Executive Officer Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors March 16, 2020 07: . David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. The information shown here is a reporting of information included in the company's proxy statement. Mr. Finkelstein has over 25 years of experience in fixed income investments. company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $36,417,864 as of February 13th. We also continue to take advantage of the attractive low levels of volatility to hedge the tail risk of a sharp rise in rates in the long end of the yield curve and as such, we replaced much of our legacy swaps in position with additional out of the money payers options. Click here to read the full letter and more from Annaly's 2020 Annual Report. Mr. Finkelstein has over 25 years of experience in fixed income investments. Most recently, Mr. Hamilton served as a Strategic Advisor to the Global Head of Fixed Income, Currencies and Commodities at Barclays Capital in New York. Additionally as noted above, core did benefit from a reduction in financing costs with low average repo rates down to 79 basis points from 1.77% combined with lower average repo balanced stands at $68.5 million from $96.8 million and we achieved these results while opportunistically extending our repo book term increasing our weighted average date of maturity by 50% from 48 days to 74 days. Our next question comes from Doug Harter with Credit Suisse. Annaly Capital Management, Inc. (NYSE:NYSE:NLY) Q2 2020 Earnings Conference Call July 30, 2020, 09:00 AM ET Company Participants Purvi Kamdar - Head, IR David Finkelstein - CEO & Chief. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. When expanded it provides a list of search options that will switch the search inputs to match the current selection. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following board members on its annual proxy statement to the SEC. Please go ahead. The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. investor@annaly.com, Brunswick Group If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Annaly Capital Management's insider roster includes David Finkelstein (CEO), and Thomas Hamilton (Director). 2020. Mr. Reeves is a member of the Henry Crown Fellows at the Aspen Institute and was honored as a Chicago United Business Leader of Color. And did you guys say what your book value was through July? Right. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital Management Inc. Mr has made over 11 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. From 2014 to 2020, Dr. Hannan served as Chairman of the Board & National President for Girl Scouts of the USA. Annaly encourages investors, analysts, the media and other interested parties to monitor the company's website in addition to following Annaly's press releases, SEC filings, public conference calls, presentations, webcasts and other information they post from time to time on its website. It did get below that level in early 2019 to about 49 basis points and then the last time prior to that was 2017 and before that it was pre-crisis.
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