NEW YORK (AP) _ Annaly Capital Management Inc. (NLY) on Wednesday reported fourth-quarter net income of $415.5 million.

On a per-share basis, the New York-based company said it had profit of 27 cents. Earnings, adjusted for non-recurring costs, were 28 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The real estate investment trust posted revenue of $422.8 million in the period. Its adjusted revenue was $361 million.

For the year, the company reported net income of $2.39 billion, or $1.60 per share, swinging to a profit in the period. Revenue was reported as $1.73 billion.

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

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