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Douglas Michael Harter

Director and Senior Equity Research Analyst at UBS Asset Management Americas Inc.

Douglas Michael Harter is a Director and Senior Equity Research Analyst at UBS Investment Bank, specializing in financial services and real estate equities. He covers leading companies such as ARMOUR Residential REIT, loanDepot, Dynex Capital, MFA Financial, New York Mortgage Trust, and Ellington Credit, and has issued over 883 ratings with a demonstrated 67% success rate and an average return of 18% per recommendation. Harter began his analyst career at Credit Suisse before joining UBS, where he is recognized as a top-ranked analyst (#221 out of 9,948 according to TipRanks) and has achieved notable performance including a 279.6% return for Mr. Cooper. He holds professional credentials including FINRA securities registration and maintains an active equity research focus based in New York.

Douglas Michael Harter's questions to ANNALY CAPITAL MANAGEMENT (NLY) leadership

Question · Q3 2025

Douglas Michael Harter inquired about the breakdown of agency returns between OAS and swap spread contributions, and an update on book value quarter-to-date.

Answer

V.S. Srinivasan, Head of Agency, detailed the spread to swaps versus Treasuries, blended yield, and option costs, highlighting the positive impact of low realized volatility. David Finkelstein, CEO and Co-Chief Investment Officer, reported that book value pre-dividend accrual was up in the upwards of 1% quarter-to-date.

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