Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 193

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 193
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2,604 822 889 Total adjustments2,277 (2,176)43,246 (1,247)12,776 22,130 Distributable earnings$24,701 $30,575 $40,850 $38,623 $46,390 $36,957 GAAP earnings/(loss) per basic common share$0.22 $0.32 $(0.02)$0.38 $0.32 $0.14 Distributable earnings per basic common share$0.24 $0.29 $0.39 $0.37 $0.45 $0.36 Weighted average common shares for basic earnings per share103,705 103,777 103,675 103,647 103,446 103,175 

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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)June 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 measure of our financial position.  To calculate our Economic book value, our portfolios of Residential whole loans and securitized debt held at carrying value are adjusted to their fair value, rather than the carrying value that is required to be reported under the GAAP accounting model applied to these financial instruments.