MFA Financial Q1 2022 GAAP loss of $0.86/share; Distributable Earnings $0.62

MFA FINANCIAL, INC.

2022-Q1 EPS reported -$0.86

GAAP net loss of $91.1M ($(0.86)/share); Distributable Earnings (non-GAAP) of $66.0M ($0.62/share).
GAAP book value fell 6.7% to $17.84; Economic book value declined 8.6% to $18.81 per share.
Unrealized losses of $288.4M on fair-value loans partly offset by $158.2M gains on derivatives and securitized debt.
Loan acquisitions of $1.2B drove net portfolio growth of ~$330M; completed $569.9M Non-QM securitizations.
Repurchased 3.2M shares at avg $17.15 in Q1; another 2.8M repurchased through Apr 29 at avg $14.48.

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