MFA Financial Book Value Falls 12.5%; Loss to Common Stockholders Reaches $122.4 Million
Photo: TokenPost
MFA Financial's third-quarter results showed GAAP book value per common share fell 12.5% from June 30 to $11.12, while the internally managed real estate investment trust recorded a $122.4 million loss to common stockholders and participating securities. Economic book value declined 13.3% over the same period, to $11.44 per share. MFA invests in residential mortgage loans, mortgage-backed securities and other real estate assets. CEO Craig Knutson said during a Nov. 4 earnings call, “We expect returns on new investments today will produce mid- to high-teen ROEs.” The figure is management’s expectation for new investments.
Source: TokenPost
