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MFA · Mfa Financial, Inc.

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$5.82 +0.26 (+4.68%) At close · Nov 13
Russell 2000 member Rebalance outlook locked
Market Cap
$588.11M
Shares
101.05M
Volume · Nov 13 2.88M Avg daily vol (3M) 2.26M

Price & Indicators

Drag to pan · scroll to zoom
Indicators
Price
Panels
Event markers
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$5.82 Open$5.60 Day$5.53–5.83 52W close$5.56–10.39 Avg vol 30d3.0M Short int6.8M · 6.7% of shares · 2.7d Short vol58% Last earningsNov 4, 2026 DataJan 2020–Nov 2026 Filing10-Q · Nov 4

Up next

Next earnings call
Feb 17, 2027 Est · unconfirmed · in 13 wks
Q3 2026 earnings call transcript
call held Nov 4, 2026
Play latest call

Latest documents

2026
Nov 4
Quarterly report 10-Q FY2026 Q3, ended Sep 30
Rising rates pressure book value and earnings

MFA Financial, Inc. generated third-quarter GAAP EPS of $(1.19) and Distributable earnings of $0.26 per basic common share as higher rates and widening spreads reduced GAAP book value to $11.12 and Economic book value to $11.44 at September 30, 2026.

Net loss $111.69M Diluted EPS -$1.19
Read from the MD&A section
3 source passages
In this Quarterly Report on Form 10-Q, we refer to MFA Financial, Inc. and its subsidiaries as “the Company,” “MFA,” “we,” “us,” or “our,” unless we specifically state otherwise or the context otherwise indicates. During the quarter, we generated GAAP net income per share (or EPS) of $(1.19) per basic common share and diluted common share and Distributable earnings, a non-GAAP financial measure that excludes the impact of fair value changes and certain other items, of $0.26 per basic common share. At September 30, 2026, our GAAP book value was $11.12 per common share and our Economic book value, a non-GAAP financial measure of our financial position that adjusts GAAP book value by the amount of unrealized mark-to-market gains or losses on our residential whole loans and securitized debt held at carrying value, was $11.44 per common share, down 12.5% and 13.3%, respectively when compared to June 30, 2026. Open the document at this passage
Nov 4
Earnings call
DE rose to $0.26 per share despite net loss

MFA reported a $111.7 million net loss, or $1.19 per basic common share, as rising rates and widening mortgage spreads drove mark-to-market declines. Distributable earnings rose to $0.26 per share from $0.12, while 60-plus day delinquencies improved to 6.7%.

4 source passages
MFA again paid a common dividend of $0.36 and delivered a quarterly total economic return of negative 10.6%. For the third quarter, we reported a gap net loss of $111.7 million, or $1.19 per basic common share. DE for the quarter was $26.4 million, or $0.26 per share, up from $0.12 per share in the second quarter. Our overall portfolio 60-plus day delinquency rate improved again to 6.7%, and our legacy multifamily portfolio shrank to under $300 million UPV and $263 million fair value. Open the document at this passage
Nov 4
Current report 8-K
Third-quarter net loss $(122.4) million; distributable earnings $26.4 million

MFA Financial reported a third-quarter GAAP net loss to common stockholders and participating securities of $(122.4) million, or $(1.19) per share, and distributable earnings of $26.4 million, or $0.26 per share. GAAP book value was $11.12 per common share.

Financial results, Regulation FD disclosure Read from the first part of this long document
3 source passages
MFA incurred a GAAP net loss to common stockholders and participating securities for the third quarter of $(122.4) million, or $(1.19) per basic and diluted common share. Distributable earnings, a non-GAAP financial measure, were $26.4 million, or $0.26 per basic common share. GAAP book value at September 30, 2026 was $11.12 per common share. Open the document at this passage
Oct 8
Current report 8-K Events of Oct 2
Director or officer change, or executive pay, Regulation FD disclosure

MFA announced CEO succession: Craig L. Knutson retires effective June 30, 2027, Bryan Wulfsohn becomes CEO effective July 1, 2027 and joins the board effective January 1, 2027, and Andrew P. Kail becomes Chief Investment Officer effective January 1, 2027.

Read from the first part of this long document
Aug 5
Quarterly report 10-Q FY2026 Q2, ended Jun 30
Quarterly report for FY2026 Q2 AI summary on its way
Net income $46.8M ▲ 41.0% Diluted EPS $0.34 ▲ 61.9%
All documents

Metrics snapshot

Useful current figures from the complete screener profile.

Revenue (TTM)
$782.82M
Trailing 12 months
Net income (TTM)
−$11.56M
Trailing 12 months
Revenue growth YoY
+9.6%
Year over year
Operating margin
—
Trailing 12 months
P / E (TTM)
—
Trailing earnings
FCF yield
—
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
$119.55M
Latest balance sheet
Dividend yield
24.7%
Trailing 12 months
Shares change YoY
-2.2%
Year over year · fewer shares
Price change (1Y)
-37.1%
Trailing year
Short interest
6.7%
Latest settlement · 2.7 days to cover
View all 129 metrics

AI Brief

Q3 FY26 earnings call · Nov 4, 2026
Q3 FY26

TL;DR. MFA improved distributable earnings, pre-credit-loss earnings and credit metrics while investing at attractive yields and unlocking securitization capital. However, the quarter produced a GAAP loss, substantial book-value declines and a negative 10.6% economic return, while rate and spread volatility and maturing swaps cloud the earnings outlook.

Bullish
  • + Distributable earnings rose to $0.26 per share from $0.12 in the second quarter.
  • + Excluding nonrecurring benefits, DE before realized credit losses increased 11% from last quarter and 30% from the third quarter of 2025.
  • + Credit losses and delinquencies improved while the legacy multifamily portfolio shrank.
  • + New investments carried a 7.8% average coupon and were expected to generate mid-to-high-teen ROEs.
  • + Calling the 2024 NPL deal unlocked an additional $40 million of capital.
  • + Economic book value was estimated to have increased approximately 5% after quarter end.
Bearish
  • − MFA reported a $111.7 million gap net loss, or $1.19 per basic common share, driven by mark-to-market declines.
  • − GAAP and economic book value declined approximately 12.5% and 13.3%, respectively, from the second quarter.
  • − The quarterly total economic return was negative 10.6%.
  • − A sharp increase in rates, wider mortgage spreads and swap rates that rose less than Treasuries collectively worked against MFA.
  • − Approximately $1.3 billion of low-rate swaps will mature and reduce quarterly distributable earnings by about $0.08 per share.
  • − Legacy multifamily resolutions continued to drag on distributable earnings.

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice
Overall
Sell
SellHoldBuy
Technical Strong Sell Momentum Very Weak Sentiment Neutral Fundamentals Excellent Quant / Vol Very High
Market backdrop VIX 19.3 · elevated Equity put/call 0.63
Technical
price trend
Strong Sell
50 / 200-day cross No cross
Price vs 200-day avg −35%
below
Price vs 50-day avg −20%
below
RSI (14) 29
oversold
MACD trend Negative
52-week position 5%
near low
Volume (OBV) Confirms
volume backs price
Momentum
relative strength
Very Weak
1-month return −12%
trailing
6-month return −39%
trailing
YTD return −37%
this year
Relative strength −40%
vs S&P · 6-mo
Sentiment
smart money
Neutral
Trend (MA cross) No cross
50d $7 › 200d $9 — 200d above 50d
Institutional flow Accumulating
182 of 216 funds reported for Sep 30 · net +893.6K sh shares · +16 new
Insider flow Flat
No net insider activity over 90 days
Short interest Rising
6.72% of shares out · ▲ +15.8% MoM · 2.7 days cover
Volume signal Normal
Volume near normal
Institution breadth Steady
216 holders — mid 3-yr range
Squeeze score 66
elevated · 0–100
Fundamentals
Excellent
EPS growth +59%
Y/Y
Free cash flow $75.9M
Buyback $190.0M
remaining
Quant / Vol
risk profile
Very High
Volatility 25%
annualized · 1-yr
Max drawdown −46%
past year
ATR 4.2%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Latest guidance · from the Earnings Call filed Nov 4, 2026
Economic book value · since the end of September 5%
Previous outlook earlier release · from the Earnings Call filed Aug 5, 2026

Still-open targets the latest release did not restate under the same label.

G&A expenses · the remainder of the year $26M – $27M

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Strong Sell
4 · 3 · 0
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
−35% Bearish
Price vs 50-day avg
−20% Bearish
RSI (14)
29 Neutral
MACD trend
Negative Bearish
52-week position
5% Bearish
Volume (OBV)
Confirms Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross) No cross
50d $7 › 200d $9 — 200d above 50d
Institutional flow Accumulating
182 of 216 funds reported for Sep 30 · net +893.6K sh shares · +16 new
Insider flow Flat
No net insider activity over 90 days
Short interest Rising
6.72% of shares out · ▲ +15.8% MoM · 2.7 days cover
Volume signal Normal
Volume near normal
Institution breadth Steady
216 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $6 Now $6 · 5% Range high $10
vs 200-day avg -35% vs 50-day avg -20%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings
Metric Latest Period YoY
Agency MBS acquired $892M Q2 2026 —
Agency MBS current face $4.1B Q2 2026 —
Agency MBS fair value $4.1B Q2 2026 —
Agency MBS position $4.1B at June 30, 2026 —
Business Purpose Loans originated $316M Q2 2026 —
Distributable earnings non-GAAP $12.24M Quarter Ended June 30, 2026 —
GAAP → non-GAAP reconciliation
GAAP GAAP Net income/(loss) used in the calculation of basic EPS 35.93M
+21.02M Residential whole loans held at fair value
+4.36M Securities held at fair value
+0K Residential whole loans and securities at carrying value
-34.51M Derivative instruments
-27.3M Securitized debt held at fair value
-512K Other portfolio investments
+985K TBA dollar roll income
+300K Amortization of intangible assets
+2.21M Equity based compensation
+4.1M Securitization-related transaction costs
+5.65M Depreciation
= Distributable earnings 12.24M
Distributable earnings per basic common share non-GAAP $0.12 Quarter Ended June 30, 2026 —
Distributable earnings prior to credit losses non-GAAP $36.7M Q2 2026 —
Distributable earnings prior to credit losses per basic common share non-GAAP $0.35 Q2 2026 —
Distributable earnings prior to realized credit losses non-GAAP $36.7M Quarter Ended June 30, 2026 —
GAAP → non-GAAP reconciliation
GAAP Distributable earnings 12.24M
+24.46M Realized credit losses on Residential whole loans at fair value, net of recoveries
= Distributable earnings prior to realized credit losses 36.7M
Distributable earnings prior to realized credit losses per basic common share non-GAAP $0.35 Quarter Ended June 30, 2026 —
Dividend Yield 15.8% Q2 2026 —
Economic Book Value non-GAAP $13.2 Q2 2026 —
Economic book value per common share non-GAAP $13.2 Quarter Ended June 30, 2026 —
Effective yield on Multifamily transitional loans 6.69% the three months ended June 30, 2026 filing —
Effective yield on Non-QM loans 5.79% the three months ended June 30, 2026 filing —
Effective yield on residential whole loans 6.3% the three months ended June 30, 2026 filing —
Effective yield on Seasoned RPL/NPL loans 7.74% the three months ended June 30, 2026 filing —
Effective yield on Single-family rental loans 6.05% the three months ended June 30, 2026 filing —
Effective yield on Single-family transitional loans 9.25% the three months ended June 30, 2026 filing —
GAAP book value per common share $12.71 Q2 2026 —
Lima One gains on loan sales 2.3M the three months ended June 30, 2026 filing —
Lima One Single-family rental loans sold to third parties (unpaid principal balance) 92.1M the three months ended June 30, 2026 filing —
Liquidity $435M Q2 2026 —
Multifamily Portfolio UPB $360M Q2 2026 —
Net effective duration of investment portfolio 0.94 Q2 2026 —
Net equity allocated to Non-QM $450M Q2 2026 —
Net Interest Income $59M Q2 2026 —
Net yield on Securities, at fair value 5.41% the three months ended June 30, 2026 filing —
Non-QM portfolio $5.7B at June 30, 2026 —
Origination Volume $316M Q2 2026 —
Quarterly G&A Expenses $26M Q2 2026 —
Residential investment portfolio $13B at June 30, 2026 —
Residential whole loan interest income 141M the three months ended June 30, 2026 filing —
Seasoned RPL/NPL net equity allocated $84M Q2 2026 —
Shares Outstanding 101.1M Q2 2026 —
TBA position (notional) $478M Q2 2026 —
Total economic return non-GAAP 2.6% Q2 2026 —
Total Origination Volume $316M Q2 2026 —

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

REIT - Mortgage — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
MFA
Mfa Financial, Inc.
this stock
$588.11M -37.5% — — 6.7%
NLY
Annaly Capital Management Inc
 $13.91B -21.1% — 12.4 3.4%
AGNC
AGNC Investment Corp.
 $10.48B -23.2% — — 11.8%
RITM
Rithm Capital Corp.
 $5.01B -17.7% -6.7% 14.2 5.8%
STWD
Starwood Property Trust, Inc.
 $4.13B -37.0% -5.3% — 5.5%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Institutional Holders Accumulating
Holders
208
% held
52.1%
Reported
182 of 216
Top holder
BlackRock, Inc.
Held Float
View
Held by Funds
Fund positions
167
View
Short & Settlement
Short Interest Rising
Shares short
6.8M
Days to cover
2.7d
Change
+925.6K sh
View
Short Volume
Short vol %
58%
As of
Nov 13, 2026
Short Total
View
Fails to Deliver
FTD shares
936
Value
$6.3K
As of
Oct 14, 2026
View
Off-Exchange
Off-exchange %
47.1%
Week of
Oct 5, 2026
Off-exch Lit
View
Financials
Financials
Net income (FY)
$176.8M
EPS diluted
$1.30
View
Buybacks
Authorized
$200.0M
Remaining
$190.0M
Spent Remaining
View
Filings
SEC Filings
Latest
10-Q
Filed
Nov 4, 2026
This year
13

MFA Financial, Inc. generated third-quarter GAAP EPS of $(1.19) and Distributable earnings of $0.26 per basic common share as higher rates and widening spreads reduced GAAP book value to $11.12 and Economic book value to $11.44 at September 30, 2026.

View
Earnings & Events
Webcasts
Last webcast
Nov 4, 2026
View
Investor Relations
Latest news
MFA Financial, Inc. Announces Thi…
Published
Nov 4, 2026
View

Performance

5D 20D 120D MTD YTD
MFA -6.3% -11.7% -39.1% -12.6% -37.5%
SPY +2.6% -1.2% +0.5% -0.2% +10.6%
vs SPY -8.9% -10.5% -39.6% -12.4% -48.1%

Capital returns

Latest dividend
$0.36 / share · ex Oct 5, 2026
Raised 2.9%
Paid (TTM)
$1.44 / share · 4 payouts
Dividend yield (TTM, derived)
24.74%
Full dividend history
Buyback program · as of Sep 30, 2026
Authorized
$200.00M
Spent (derived)
$10.00M
Remaining
$190.00M
Spent Remaining

Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.

Key facts CIK 1055160 CUSIP 55272X607 13F (30d) 181 filings 147 filers Visit website Investor relations