NEW YORK (AP) _ Annaly Capital Management Inc. (NLY) on Wednesday reported a loss of $3.64 billion in its first quarter.
The New York-based company said it had a loss of $2.57 per share. Earnings, adjusted for non-recurring costs, were 21 cents per share.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 21 cents per share.
The real estate investment trust posted revenue of $555 million in the period. Its adjusted revenue was $51.6 million.
Annaly shares have declined 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.39, a decrease of 36% in the last 12 months.