Without the effect of the unrealized gains or losses on interest rate swaps and Agency interest-only mortgage-backed securities, net income for the current quarter stood at $529.3m, or $0.54 per average common share compared to $530.6m, or $0.70 per average common share year-over-year quarter.
The company sold $5.3bn of agency mortgage-backed securities and debentures, during the latest quarter period, which contributed $80.3m gains, while for the first quarter of 2011, it disposed $4.2bn of agency mortgage-backed securities and debentures, resulting a realized gain of $27.2m.
Annaly Capital Management chairman, chief executive officer and president Michael Farrell said that the risks continue to evolve in the market, with an emphasis on sovereign weakness, slow economic growth, central bank activism and the implications of proposed regulatory reforms.
"It enables us to maneuver through these markets to deliver attractive risk-adjusted returns to shareholders, protect our portfolio and maintain our flexibility to take advantage of investment opportunities as they arise," Farrell said.
