ANNALY CAPITAL MANAGEMENT INC (NLY)

Real Estate Investment Trusts

Latest Price

$21.41

TTM P/E

5.18

Normalized P/E

15.65

Div Yield

3.50%

Book Value

20.47

P/B Ratio

1.05

Valuation metrics

EPS: $2.92

Book value / share: $22.76

Formula: √(22.5 × EPS × BVPS)

Graham Number

$38.67

+81% upside

Norm. op. income: $2.7B (median of 7yr)

Tax rate: 5%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$37.89

+77% upside

EPS: $2.92

Target P/E: 16×

Formula: EPS × P/E

P/E Fair Value

$46.72

+118% upside

58.3% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	87.22M	$1.95B	11.62%	+5.49M	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	32.90M	$735.0M	4.38%	+886.8K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	31.25M	$698.0M	4.16%	+482.0K	2026-06-30
STATE STREET CORP	29.43M	$679.0M	3.92%	+1.27M	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	20.82M	$465.0M	2.77%	+873.7K	2026-06-30
FMR LLC	14.29M	$319.0M	1.90%	+41.4K	2026-06-30
Allspring Global Investments Holdings, LLC	11.54M	$256.0M	1.54%	-1.95M	2026-06-30
NORGES BANK	8.99M	$201.0M	1.20%	+1.73M	2026-06-30
NORTHERN TRUST CORP	7.76M	$173.0M	1.03%	+319.5K	2026-06-30
Invesco Ltd.	7.72M	$172.0M	1.03%	+969.6K	2026-06-30