Annaly Capital Management, Inc. (NYSE: NLY) has announced its financial results for the second quarter ending June 30, 2025. The company reported a GAAP net income of $0.03 per average common share for the quarter, a decrease from $0.15 per share in the previous quarter. Earnings available for distribution $(EAD)$ stood at $0.73 per average common share for the quarter. The economic return was recorded at 0.7% for the second quarter and 3.7% for the first half of the year. The book value per common share was $18.45. Annaly's total portfolio amounted to $89.5 billion, with a significant portion, $79.5 billion, consisting of a highly liquid Agency portfolio. The company experienced an increase in GAAP leverage to 7.1x, up from 6.8x in the prior quarter, while economic leverage rose slightly to 5.8x from 5.7x. Annaly declared a common stock cash dividend of $0.70 per share for the second quarter.