Annaly Reports Big Increase in Book Value Per Share

Annaly Reports Big Increase in Book Value Per Share

The COVID-19 crisis has been the toughest test the mortgage real estate investment trust (REIT) sector has faced since the 2008–09 Great Recession. Liquidity in the mortgage-backed securities markets dried up virtually overnight, triggering margin calls and forced liquidation of assets. Every mortgage REIT reported big drops in book values and cut their dividends.