- Q1 net income of $78.4M or $0.21 per share vs. $76M and $0.20 in Q4. Dividend is $0.20.
- Book value per share of $8.13 vs. $8.12 at the start of the year. Last night's close of $7.86 is a 3.3% discount to book - among the smallest discounts in the mREIT industry at the moment.
- Holdings of MBS backed by RPLs and NPLs up $310.4M to $2.318B. Holdings of RPLs and NPLs up $35.9M to $387.3M.
- Sold during quarter were $10.8M on non-agency MBS for a realized gain of $6.4M (this is included in the headline net income figure). It's now 11 straight quarters of realizing gains on selected sales of legacy MBS.
- Legacy portfolio continues to benefit from improving fundamentals, and $22.3M was transferred from credit reserve to accretable discount.
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Earnings call at 10 ET
- Previously: MFA Financial beats by $0.02, beats on net interest income (May 5)
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MFA flat premarket