- Closed $2.3 billion in financing with a €1 billion raise at 3.5%, maintaining a low cost of debt at 3.2% with over eight years average maturity.
- Core FFO including net promote expense was $1.49 per share, excluding net promotes $1.50, both ahead of forecast.
- Energy business delivered 28 megawatts of solar generation and storage, progressing toward a one-gigawatt goal by year-end.
- Lease mark to market ended at 19%, capturing $75 million of NOI this quarter and $900 million as leases roll.
- Net effective rent change was 49% on a net effective basis and 29% on cash basis, highlighting durable lease mark to market.
- Record leasing quarter with nearly 62 million square feet signed, driving occupancy to 95.3%, up 20 basis points.
- Same-store net effective and cash NOI growth were 3.9% and 5.2%, respectively.
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- Annaly delivered an economic return of 0.7% for Q2 2025, marking the seventh consecutive quarter of positive economic returns.
- Book value per share decreased 3% quarter-over-quarter to $18.45 after accounting for dividends.
- Earnings available for distribution (EAD) per share increased by $0.01 to $0.73, exceeding the dividend of $0.70 for the quarter.
- Higher yields on the investment portfolio at 5.41% compared to 5.23% in the prior quarter contributed to results.
- Lower average repo rates of 4.53% during the quarter, a modest decline of 3 basis points, partially offset gains.
- Net interest spread excluding PAA increased to 1.47% in Q2 from 1.24% a year ago; net interest margin ex PAA rose to 1.71% from 1.58%.
- Residential credit business generated additional income due to growth in accretive OBX securitizations and record issuance activity.
- Total facility capacity for residential credit was $4.2 billion with 40% utilization; MSR business had $2.1 billion capacity with 50% utilization.
- Unencumbered assets ended Q2 at approximately $6 billion, including $4.7 billion in unencumbered Agency MBS.
- Year-to-date economic return reached 3.7% with total shareholder return over 10% through quarter end.
- Adjusted EBITDA declined 5% and adjusted core EPS declined 7% due to a 100 basis point decrease in short-term rates impacting escrow earnings.
- Capital Markets segment revenues grew 46% year-over-year with net income up 200% to $33 million and adjusted EBITDA up 116% to $1.3 million.
- Cash balance ended at $234 million, supporting capital deployment and dividend payments.
- GAAP earnings per share rose 48% year-over-year to $0.99, driven by economies of scale and significant noncash mortgage servicing rights (MSRs) booked.
- No new loan defaults were recorded; credit quality remains strong with only 8 defaults in a $65 billion at-risk portfolio.
- Quarterly dividend increased to $0.67 per share, marking seven consecutive years of dividend growth.
- Servicing & Asset Management segment servicing fees increased 4% to $84 million, but total segment revenues declined 5% due to lower placement fees and investment management fees.
- Walker & Dunlop reported a 65% year-over-year increase in total transaction volume to $14 billion in Q2 2025, more than doubling from Q1 2025.
- Diluted EPS was $0.33 and tangible book value per share was $11.53.
- Effective tax rate was 29% due to a California tax law change, with a long-term statutory tax rate expectation reduced to 25.5%.
- GAAP net income more than doubled to $38 million from $15 million last year, achieving an ROTCE of nearly 12%, surpassing the 8% target set at the beginning of the year.
- LendingClub delivered 32% year-on-year growth in originations and 33% growth in revenue in Q2 2025.
- Net charge-off ratio improved to 3% from 6.2% last year, though expected to rise modestly as newer vintages season.
- Net interest margin improved to 6.1%, benefiting from repricing of deposit portfolios.
- Noninterest expense was $155 million, up 17%, mainly due to a 26% increase in marketing spend.
- Originations reached $2.4 billion, driven by paid marketing initiatives and product enhancements.
- Pre-provision net revenue (PPNR) was $94 million, up 70% year-over-year and above guidance.
- Provision for credit losses was $40 million, modestly up from $36 million last year, with a provision benefit of approximately $9 million due to credit outperformance.
- Total revenue was $248 million, up 33% year-over-year, with noninterest income at $94 million (up 60%) and net interest income at $154 million (up 20%).
- B2B segment revenue grew nearly 40%, driven by a significant BaaS partner and growth in the BaaS portfolio.
- Consumer Services segment revenue declined but active account declines moderated, with retail channel showing flat active accounts and slight increases in key metrics.
- Corporate segment revenues increased due to higher interest income from balance sheet optimization and bond repositioning.
- Green Dot reported a strong Q2 2025 with adjusted revenue up 24% year-over-year and adjusted EBITDA up 34%, both exceeding expectations.
- Money Movement segment saw tax business outperform expectations with profits up over 10%, while money processing revenue declined modestly due to lower transaction volumes but improved revenue per transaction.
- Non-GAAP EPS reached $0.40 per share, a 60% increase year-over-year.
- Overall segment margins were flat year-over-year, with margin improvements in direct channel offsetting retail declines.
- Rapid Employer Services revenue declined due to challenges in the staffing industry, but margin expanded by 45 basis points due to improved profitability.
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