Company did not provide specific guidance or outlook for the current or future periods
Overview
US mortgage REIT's Q2 distributable earnings missed analyst expectations
Net income for Q2 was $36.2 mln
Result drivers
Realized credit losses - Distributable earnings were weighed down by realized losses on legacy multifamily loans
Portfolio growth - Co grew its investment portfolio and acquired over $1.6 bln of residential mortgage assets during the quarter
Delinquency resolution - Co resolved nearly $200 mln of previously delinquent loans, reducing portfolio-wide default rate to 7.0% from 7.8%
Analyst coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy."
Wall Street's median 12-month price target for MFA Financial, Inc. is $10.50, about 15.5% above its August 4 closing price of $9.09
MFA•
