MFA
MFA Financial, Inc.9.49
-0.11-1.15%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Key Stats
Market Cap
974.33MP/E (TTM)
11.03Basic EPS (TTM)
0.86Dividend Yield
0.15%Recent Filings
8-K
Q3 earnings miss; portfolio expands
MFA Financial reported Q3 GAAP net income of $37.3 million ($0.36 per share), but distributable earnings fell to $21.0 million ($0.20 per share) amid credit losses on legacy loans. Portfolio grew to $11.2 billion after acquiring $453 million Non-QM and $473 million Agency MBS; delinquencies dropped to 6.8%. Delinquencies improved. Plans target 7-10% G&A cuts and $100 million cash deployment.
10-Q
Q3 FY2025 results
MFA Financial steadied its ship in Q3 FY2025 ended September 30, 2025, posting net income of $48.1M, or $0.35 diluted EPS—flat y/y from $48.2M/$0.37 but up q/q (derived). Net interest income dipped to $56.8M from $61.3M q/q on softer residential whole loan yields (6.81% vs 6.85%), yet Other income/(loss), net, surged to $31.0M from $12.3M via $41.3M fair value gains on loans. Cash sits at $305M with $232M restricted; financing agreements total $9.8B (debt/equity 5.5x), bolstered by two securitizations. Portfolio delinquencies eased to 6.8%. Swaps delivered $16M net carry. Book value holds $13.13/share. Competition sharpens in non-QM lending.
8-K
MFA 401(k) blackout announced
MFA Financial announced a trading blackout period starting December 1, 2025, at 4:00 p.m. ET and ending December 5, 2025, to remove its common stock and 7.50% Series B Preferred Stock as options from the 401(k) Savings Plan and liquidate related holdings. This Sarbanes-Oxley-mandated restriction halts all transactions in these securities for directors, executives, and family members, regardless of Plan participation. Plan participants can't trade or diversify during this window. No business impact beyond compliance is disclosed.
8-K
MFA launches ATM equity programs
MFA Financial launched new at-the-market programs on August 15, 2025, enabling sales of up to $300 million in common stock through multiple agents at a 1.0% commission and $100 million in Series B or C preferred stock via two agents at up to 2.0%. This replaces a prior common stock agreement from February 2024, while Articles Supplementary filed August 13 boosted authorized preferred shares to support the offerings. No sales have occurred yet. Flexibility aids capital raising amid market shifts.
8-K
MFA Q2 earnings and portfolio growth
MFA Financial grew its residential investment portfolio to $10.8 billion in Q2 2025, acquiring $876 million in loans and securities amid steady runoff. GAAP net income hit $22.6 million ($0.22 per share), while distributable earnings reached $24.7 million ($0.24 per share); net interest spread climbed to 1.98%. Delinquencies dipped to 7.3%, but credit losses on business purpose loans pressured returns. Portfolio expanded modestly.
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