MFA Financial reports Q1 distributable EPS 29c, consensus 32c
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 06 2025
0mins
Economic Performance: MFA reported a 1.9% total economic return for Q1 2025, highlighting confidence in their $10.7 billion investment portfolio through a recent dividend increase.
Investment Activities: The company sourced $875 million in residential loans and securities, including significant Non-QM loans and business purpose loans, while also expanding their Agency MBS position and completing a Non-QM securitization.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy MFA?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on MFA
Wall Street analysts forecast MFA stock price to rise
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 9.500
Low
10.00
Averages
10.08
High
10.25
Current: 9.500
Low
10.00
Averages
10.08
High
10.25
About MFA
MFA Financial, Inc. is a specialty finance company that invests in residential mortgage loans, residential mortgage-backed securities and other real estate assets. Its targeted investments primarily include residential whole loans and residential mortgage securities. Its residential whole loans include non-QM loans, business purpose loans, and legacy re-performing loans (RPL)/ non-performing loans (NPL). Its residential mortgage securities include agency mortgage-backed securities (MBS), non-agency MBS, CRT securities and mortgage servicing rights (MSRs)-related assets, which include term notes backed directly or indirectly by MSRs. Its principal business objective is to deliver shareholder value through the generation of distributable income and through asset performance linked to residential mortgage credit fundamentals. The Company, through its wholly owned subsidiary, Lima One Capital (Lima One), also originates and services business purpose loans for real estate investors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
MFA Financial Declares Preferred Stock Dividends
- Dividend Announcement: MFA Financial's Board of Directors has declared a preferred stock dividend of $0.46875 per share for its 7.50% Series B Cumulative Redeemable Preferred Stock, payable on June 30, 2026, reflecting the company's ongoing commitment to shareholder returns.
- Series C Preferred Dividend: Additionally, the Board announced a dividend of $0.58810 per share for the 6.50% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, with an annualized rate of 9.30622%, demonstrating the company's adaptability in the current interest rate environment.
- Payment and Record Dates: Both dividends are set to be paid on June 30, 2026, with a record date of June 4, 2026, ensuring stability for shareholders prior to the dividend payout, which helps bolster investor confidence.
- Company Background: Since its IPO in 1998, MFA Financial has distributed over $5.0 billion in dividends to shareholders, showcasing its robust financial performance as a leading specialty finance company focused on residential mortgage loans and real estate assets.
See More
MFA Financial Q1 2026 Earnings Call Insights
- Market Environment Shift: CEO Craig Knutson described Q1 as marked by significant volatility, particularly due to the outbreak of war in Iran, which sharply increased rates and oil prices, leading to a negative economic return of -1.2% for the company.
- Portfolio Growth: MFA expanded its investment portfolio to $12.5 billion in Q1, adding nearly $700 million in agency loans and $471 million in non-QM loans, demonstrating the company's growth potential amid market uncertainties.
- Financial Performance Pressure: Despite paying a common dividend of $0.36 per share, MFA reported a GAAP loss of approximately $1 million, resulting in a basic earnings per share of -$0.11, reflecting the financial pressures faced by the company due to market volatility and asset impairments.
- Cost Control Measures: The company anticipates achieving approximately $4 million in annual expense savings through its headquarters relocation, with total savings expected to approach $40 million over the remaining lease term, indicating MFA's proactive efforts in cost management.
See More
MFA Financial Reports Q1 2026 Earnings Results
- Earnings Beat: MFA Financial reported a Q1 2026 non-GAAP EPS of $0.34, exceeding expectations by $0.04, indicating resilience in profitability despite challenging market conditions.
- Significant Revenue Decline: The company’s revenue fell to $43.3 million, a 47.2% year-over-year decrease, missing market expectations by $17.74 million, highlighting the pressures faced in the current economic environment.
- Strong Cash Position: As of March 31, 2026, MFA closed the quarter with $221.6 million in unrestricted cash and $174.8 million in unpledged Agency MBS, ensuring liquidity amid market uncertainties.
- Portfolio Growth: MFA's residential investment portfolio increased to $12.5 billion as of March 31, 2026, up from $12.3 billion at the end of 2025, reflecting ongoing confidence in the real estate market.
See More
MFA Financial Reports Q1 EPS of USD -0.11
- Financial Performance: The company reported a Q1 EPS of -0.11, indicating a loss compared to expectations.
- Market Reaction: Investors reacted negatively to the earnings report, leading to a decline in stock prices.
- Future Outlook: Analysts are cautious about the company's future performance, citing potential challenges in the market.
- Strategic Initiatives: The company is exploring new strategies to improve financial stability and regain investor confidence.
See More
MFA Financial to Announce Q1 Earnings on May 5
- Earnings Announcement: MFA Financial is set to release its Q1 earnings on May 5 before market open, with a consensus EPS estimate of $0.30, reflecting a 3.4% year-over-year increase, which could provide crucial insights into the company's profitability outlook.
- Revenue Growth Expectations: The anticipated revenue for Q1 stands at $61.04 million, representing a 6.1% year-over-year growth, indicating the company's robust performance and adaptability to market conditions, potentially boosting investor confidence.
- Historical Performance Review: Over the past two years, MFA has beaten EPS estimates 25% of the time and revenue estimates 63% of the time, showcasing the company's reliability in meeting earnings forecasts, which may influence market expectations for its future performance.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen two upward revisions and no downward adjustments, while revenue estimates experienced two upward revisions and one downward, suggesting a positive trend that may indicate the company's growth potential in the upcoming quarters.
See More
Analysis of Real Estate Investment Trust Yields
- Attractive REIT Yields: With the Fed cutting rates, real estate investment trusts (REITs) are offering yields between 6% and 15%, making them appealing to income-seeking investors, especially as other investment vehicles see declining returns, enhancing REITs' relative attractiveness.
- Sabra Health Care REIT Performance: Sabra Health Care REIT boasts a 6.1% dividend yield and a portfolio of 360 properties; despite the COVID crisis, long-term trends remain favorable, with plans to expand its senior housing operating portfolio through acquisitions.
- Unique Structure of Millrose Properties: Millrose Properties offers a 10.4% dividend yield, operating through option contracts with Lennar to develop residential land, and is expected to maintain or modestly grow its adjusted funds from operations (AFFO) per share, providing stable returns to investors.
- High-Yield MFA Financial: MFA Financial features a remarkable 14.6% dividend yield; despite facing interest rate uncertainties, the company reported better-than-expected distributable earnings per share (DE) in Q4, indicating resilience in a challenging market environment.
See More
MFA Financial Declares Preferred Stock Dividends
- Dividend Announcement: MFA Financial's Board of Directors has declared a preferred stock dividend of $0.46875 per share for its 7.50% Series B Cumulative Redeemable Preferred Stock, payable on June 30, 2026, reflecting the company's ongoing commitment to shareholder returns.
- Series C Preferred Dividend: Additionally, the Board announced a dividend of $0.58810 per share for the 6.50% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, with an annualized rate of 9.30622%, demonstrating the company's adaptability in the current interest rate environment.
- Payment and Record Dates: Both dividends are set to be paid on June 30, 2026, with a record date of June 4, 2026, ensuring stability for shareholders prior to the dividend payout, which helps bolster investor confidence.
- Company Background: Since its IPO in 1998, MFA Financial has distributed over $5.0 billion in dividends to shareholders, showcasing its robust financial performance as a leading specialty finance company focused on residential mortgage loans and real estate assets.
See More
MFA Financial Q1 2026 Earnings Call Insights
- Market Environment Shift: CEO Craig Knutson described Q1 as marked by significant volatility, particularly due to the outbreak of war in Iran, which sharply increased rates and oil prices, leading to a negative economic return of -1.2% for the company.
- Portfolio Growth: MFA expanded its investment portfolio to $12.5 billion in Q1, adding nearly $700 million in agency loans and $471 million in non-QM loans, demonstrating the company's growth potential amid market uncertainties.
- Financial Performance Pressure: Despite paying a common dividend of $0.36 per share, MFA reported a GAAP loss of approximately $1 million, resulting in a basic earnings per share of -$0.11, reflecting the financial pressures faced by the company due to market volatility and asset impairments.
- Cost Control Measures: The company anticipates achieving approximately $4 million in annual expense savings through its headquarters relocation, with total savings expected to approach $40 million over the remaining lease term, indicating MFA's proactive efforts in cost management.
See More
MFA Financial Reports Q1 2026 Earnings Results
- Earnings Beat: MFA Financial reported a Q1 2026 non-GAAP EPS of $0.34, exceeding expectations by $0.04, indicating resilience in profitability despite challenging market conditions.
- Significant Revenue Decline: The company’s revenue fell to $43.3 million, a 47.2% year-over-year decrease, missing market expectations by $17.74 million, highlighting the pressures faced in the current economic environment.
- Strong Cash Position: As of March 31, 2026, MFA closed the quarter with $221.6 million in unrestricted cash and $174.8 million in unpledged Agency MBS, ensuring liquidity amid market uncertainties.
- Portfolio Growth: MFA's residential investment portfolio increased to $12.5 billion as of March 31, 2026, up from $12.3 billion at the end of 2025, reflecting ongoing confidence in the real estate market.
See More
MFA Financial Reports Q1 EPS of USD -0.11
- Financial Performance: The company reported a Q1 EPS of -0.11, indicating a loss compared to expectations.
- Market Reaction: Investors reacted negatively to the earnings report, leading to a decline in stock prices.
- Future Outlook: Analysts are cautious about the company's future performance, citing potential challenges in the market.
- Strategic Initiatives: The company is exploring new strategies to improve financial stability and regain investor confidence.
See More
MFA Financial to Announce Q1 Earnings on May 5
- Earnings Announcement: MFA Financial is set to release its Q1 earnings on May 5 before market open, with a consensus EPS estimate of $0.30, reflecting a 3.4% year-over-year increase, which could provide crucial insights into the company's profitability outlook.
- Revenue Growth Expectations: The anticipated revenue for Q1 stands at $61.04 million, representing a 6.1% year-over-year growth, indicating the company's robust performance and adaptability to market conditions, potentially boosting investor confidence.
- Historical Performance Review: Over the past two years, MFA has beaten EPS estimates 25% of the time and revenue estimates 63% of the time, showcasing the company's reliability in meeting earnings forecasts, which may influence market expectations for its future performance.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen two upward revisions and no downward adjustments, while revenue estimates experienced two upward revisions and one downward, suggesting a positive trend that may indicate the company's growth potential in the upcoming quarters.
See More
Analysis of Real Estate Investment Trust Yields
- Attractive REIT Yields: With the Fed cutting rates, real estate investment trusts (REITs) are offering yields between 6% and 15%, making them appealing to income-seeking investors, especially as other investment vehicles see declining returns, enhancing REITs' relative attractiveness.
- Sabra Health Care REIT Performance: Sabra Health Care REIT boasts a 6.1% dividend yield and a portfolio of 360 properties; despite the COVID crisis, long-term trends remain favorable, with plans to expand its senior housing operating portfolio through acquisitions.
- Unique Structure of Millrose Properties: Millrose Properties offers a 10.4% dividend yield, operating through option contracts with Lennar to develop residential land, and is expected to maintain or modestly grow its adjusted funds from operations (AFFO) per share, providing stable returns to investors.
- High-Yield MFA Financial: MFA Financial features a remarkable 14.6% dividend yield; despite facing interest rate uncertainties, the company reported better-than-expected distributable earnings per share (DE) in Q4, indicating resilience in a challenging market environment.
See More
