BTIG lowered the firm's price target on Annaly Capital to $24 from $25 and keeps a Buy rating on the shares. The firm expects the agency mortgage real estate investment trusts to generate a 13% economic return for 2026, with dividends partially offset by modest book value declines. The longer-term environment for the sector remains favorable with spreads still attractive versus history, which should support book value and dividend outlooks, the analyst tells investors in a research note. Annaly and Dynex are BTIG's preferred names for the sector.
