MFA Financial, Inc. (NYSE:MFA) announced a quarterly dividend on Thursday, March 8th, Wall Street Journal reports. Shareholders of record on Thursday, March 29th will be paid a dividend of 0.20 per share by the real estate investment trust on Monday, April 30th. This represents a $0.80 dividend on an annualized basis and a yield of 10.68%. The ex-dividend date is Wednesday, March 28th.
MFA Financial has a dividend payout ratio of 103.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect MFA Financial to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 95.2%.
Shares of MFA Financial (NYSE MFA) traded up $0.04 during trading hours on Friday, reaching $7.49. 640,674 shares of the company’s stock were exchanged, compared to its average volume of 2,890,040. The stock has a market capitalization of $2,972.24, a price-to-earnings ratio of 9.49 and a beta of 0.45. MFA Financial has a one year low of $6.72 and a one year high of $8.90.
In other MFA Financial news, CEO Craig L. Knutson purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $7.30 per share, with a total value of $58,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.
A number of analysts have issued reports on MFA shares. B. Riley set a $8.00 price target on shares of MFA Financial and gave the stock a “hold” rating in a research note on Friday, February 16th. Zacks Investment Research downgraded MFA Financial from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $8.81.
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MFA Financial Company Profile
MFA Financial, Inc is engaged in the real estate finance business. The Company’s subsidiaries invest in residential mortgage assets, including Non-Agency mortgage-backed securities (MBS), Agency MBS, residential whole loans and credit risk transfer (CRT) securities. The Company’s Non-Agency MBS portfolio primarily consists of Legacy Non-Agency MBS and 3 Year Step-up securities.
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