Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 38

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 38
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,340 Depreciation1,328 1,087 879 938 2,604 822 889 Total adjustments(16,129)2,277 (2,176)43,246 (1,247)12,776 22,130 Distributable earnings$20,953 $24,701 $30,575 $40,850 $38,623 $46,390 $36,957 GAAP earnings/(loss) per basic common share$0.36 $0.22 $0.32 $(0.02)$0.38 $0.32 $0.14 Distributable earnings per basic common share$0.20 $0.24 $0.29 $0.39 $0.37 $0.45 $0.36 Weighted average common shares for basic earnings per share103,683 103,705 103,777 103,675 103,647 103,446 103,175 

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Selected Financial Ratios (using Distributable earnings)

The following table presents information regarding certain of our financial ratios at or for the dates presented:

At or for the Quarter EndedReturn on Average Total Assets (1)Return on Average Total Stockholders’ Equity (2)Dividend Payout Ratio (3)September 30, 20251.07 %6.94 %1.80June 30, 20251.21 7.66 1.50March 31, 20251.37 8.39 1.24December 31, 20241.72 10.49 0.90September 30, 20241.69 9.89 0.95June 30, 20241.98 11.53 0.78March 31, 20241.66 9.12 0.97

(1)Reflects annualized Distributable earnings before preferred dividends divided by average total assets.

(2)Reflects annualized Distributable earnings before preferred dividends divided by average total stockholders’ equity.

(3)Reflects dividends declared per share of common stock divided by Distributable earnings per share.

Reconciliation of GAAP Book Value per Common Share to non-GAAP Economic Book Value per Common Share

“Economic book value” is a non-GAAP financial