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MFA Financial (MFA)

MFA Financial, Inc. is a real estate investment trust primarily engaged in the business of investing, on a leveraged basis, in residential mortgage assets, including residential mortgage-backed securities and residential whole loans.

Company profile

Ticker
MFA, MFA+B, MFA+C
Exchange
CEO
Craig Knutson
Employees
Incorporated
Location
Fiscal year end
Former names
AMERICA FIRST MORTGAGE INVESTMENTS INC, MFA MORTGAGE INVESTMENTS
SEC CIK
Subsidiaries
Beaumont Securities Holdings, LLC • Diplomat Properties Holding Corp. • Lima One Holdings, LLC • Lima One Capital, LLC • MFA Omaha Borrower, LLC • MFA Securities Holdings LLC • MFA Securitization Holdings LLC • MFResidential Assets I, LLC • MFResidential Assets Holding Corp. • MFA Kittiwake Investments Ltd. ...
IRS number
133974868

MFA stock data

Calendar

4 Aug 22
10 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 545.34M 545.34M 545.34M 545.34M 545.34M 545.34M
Cash burn (monthly) 3.4M 30.83M 14.92M 10.69M (no burn) (no burn)
Cash used (since last report) 4.63M 42M 20.33M 14.57M n/a n/a
Cash remaining 540.71M 503.34M 525.02M 530.78M n/a n/a
Runway (months of cash) 159.1 16.3 35.2 49.7 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Jun 22 Polsky Lisa RSU Common Stock Grant Acquire A No No 0 10,973 0 35,116
8 Jun 22 Oelerich Francis J. III RSU Common Stock Grant Acquire A No No 0 10,973 0 40,267
8 Jun 22 Goodman Laurie RSU Common Stock Grant Acquire A No No 0 19,386 0 70,085
8 Jun 22 Richard C. Wald RSU Common Stock Grant Acquire A No No 0 10,973 0 35,116
8 Jun 22 Stamps Sheila A RSU Common Stock Grant Acquire A No No 0 10,973 0 10,973
13F holders Current Prev Q Change
Total holders 172 218 -21.1%
Opened positions 25 37 -32.4%
Closed positions 71 25 +184.0%
Increased positions 47 76 -38.2%
Reduced positions 70 69 +1.4%
13F shares Current Prev Q Change
Total value 1.27B 1.47B -14.1%
Total shares 293.92M 323.4M -9.1%
Total puts 565.9K 976.1K -42.0%
Total calls 3.29M 6.41M -48.8%
Total put/call ratio 0.2 0.2 +13.2%
Largest owners Shares Value Change
Starwood Capital Group Management, L.L.C. 42.55M $172.77M 0.0%
Starwood Capital Group Global Ii 42.55M $197.88M 0.0%
Vanguard 40.16M $161.85M -2.9%
BLK Blackrock 35.79M $144.22M -7.3%
FMR 22.87M $92.16M -2.6%
STT State Street 10.11M $41.77M +9.0%
Apollo Management Holdings GP 8.33M $31.84M 0.0%
Geode Capital Management 7.35M $29.64M +3.0%
Arrowstreet Capital, Limited Partnership 7.05M $28.43M -23.7%
Charles Schwab Investment Management 4.95M $19.96M +2.5%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -4.49M EXIT
Mirae Asset Global Investments 2.91M +2.91M NEW
GS Goldman Sachs 2.34M -2.87M -55.1%
BLK Blackrock 35.79M -2.8M -7.3%
EMG 0 -2.73M EXIT
Van Eck Associates 0 -2.55M EXIT
JPM JPMorgan Chase & Co. 2.24M -2.39M -51.5%
Arrowstreet Capital, Limited Partnership 7.05M -2.19M -23.7%
Renaissance Technologies 2.72M +2.13M +356.0%
Williams Jones Wealth Management 0 -2.04M EXIT

Financial report summary

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Management Discussion
  • We have elected to present our current quarter results of operations in comparison to the immediately preceding quarter, instead of the corresponding quarter of the prior year, which we believe offers a better basis for comparison due to a higher degree of similarity in our business model and investments. Because this is our first report reflecting this election, we are also presenting our current quarter results of operations in comparison to the corresponding quarter of the prior year. For our future reports, we will present a discussion of our results of operations for the current quarter compared to the immediately preceding prior quarter only.
  • For the second quarter of 2022, we had a net loss available to our common stock and participating securities of $108.6 million, or $(1.06) per basic and diluted common share, compared to a net loss available to common stock and participating securities of $91.1 million, or $(0.86) per basic and diluted common share, for the first quarter of 2022. The net loss available to common stock and participating securities in the current period reflects lower net gains of $46.3 million on derivatives used for risk management purposes, a $28.6 million provision for Credit Losses on Other Assets recorded during the current quarter and lower net interest income, partially offset by lower mark-to-market losses on our residential whole loans measured at fair value through earnings of $72.0 million as well as $20.5 million higher unrealized gains on securitized debt measured at fair value through earnings. For the second quarter of 2022, the net loss on our residential whole loans measured at fair value through earnings totaled $216.4 million, compared to a net loss of $288.4 million in the first quarter of 2022. The provision recorded for credit losses on residential whole loans in the second quarter of 2022 primarily reflects adjustments to lower future
  • estimates of prepayment speeds given recent and expected future increases in market interest rates, partially offset by the run-off of loans held at carrying value. The reversal of provision recorded in the first quarter of 2022 primarily reflects the run-off of loans held at carrying value and adjustments to certain macroeconomic and loan prepayment speed assumptions used in our credit loss forecasts.

Content analysis

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Removed: administering, bolster, bore, conformed, correspondingly, customary, discontinuation, establishment, fact, Ginnie, heading, Jersey, Magnetar, matching, page, relocated, terminating