MFA Q2 GAAP EPS $0.32, distributable earnings $0.44; economic book value $14.34

MFA FINANCIAL, INC.

2024-Q2 EPS reported $0.46

GAAP net income $33.7M ($0.32/sh); distributable earnings $45.6M ($0.44/sh); net interest spread 2.16%.
Acquired/originated $688M residential loans (avg coupon 9.6%); added $176M Agency MBS; portfolio $10.2B.
Repaid $170M convertible notes; issued $75M of 9.00% senior notes due 2029; two securitizations ($557M).
60+ day delinquencies improved to 6.5% from 6.9%; debt/equity ratio 4.7x; recourse leverage 1.7x.
Declared $0.35/sh dividend paid July 31; unrestricted cash $289M; total economic return 2.6%.

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