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Annaly beats 3Q profit forecasts

NEW YORK (AP) _ Annaly Capital Management Inc. (NLY) on Wednesday reported third-quarter earnings of $367.5 million.

The New York-based company said it had net income of 31 cents per share. Earnings, adjusted for non-recurring gains, came to 30 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The real estate investment trust posted revenue of $622.6 million in the period. Its adjusted revenue was $353.6 million.

Annaly shares have increased 16 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.52, an increase of 13 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NLY at https://www.zacks.com/ap/NLY