The earnings season is off to a flying start with equity markets scaling record highs, owing to a slew of upbeat economic data, strong corporate performance and President Donald Trump’s tax reform proposal. However, the performance has been a mixed bag for REITs, with some beating market expectations, while a few failing to do so.

We will now discuss the performance of two REITs, Annaly Capital Management (NLY – Free Report) and AGNC Investment Corporation (AGNC – Free Report) .

Annaly Capital Management

REIT Annaly Capital Management reported third-quarter 2017 net interest income of $353.6 million, reflecting a decrease of 8% from $384.5 million a year ago. However, it increased 12.2% sequentially. It reported core earnings per share (excluding premium amortization adjustment of $0.04 per share) of $0.30, surpassing the Zacks Consensus Estimate of $0.29.

However, it reported Other Income of $28.2 million in the quarter compared with $29.2 million in the year-ago quarter. It had reported Other Income of $30.9 million in the previous quarter.

Comprehensive income came in at $577.9 million compared with $289.4 million in the previous quarter. The company had registered income of $733.5 million in the year-ago quarter. Moreover, the company announced a dividend of $0.30 per share for the quarter.

The company reported book value per share of $11.42, increasing 2.1% from $11.19 in the previous quarter. Its book value per share was $11.83 in the year-ago quarter.  

Shares of NLY increased around 0.7% in afterhours trading on Nov 1, 2017.

AGNC Investment Corporation

REIT (AGNC – Free Report) Investment Corporation reported third-quarter 2017 net spread and dollar roll income (excluding $0.03 per share catch up premium) of $0.59/ share, missing the Zacks Consensus Estimate of $0.63. It reported net interest income of $178 million for the quarter in discussion, declining roughly 18.7% from $219 million a year ago. Moreover, net interest income declined roughly 1.7% from $181 million in the previous quarter.

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