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MFA Financial, Inc. (MFA)

Real Estate | REIT - Mortgage | New York, United States | NYSE
8.83 USD -0.03 (-0.339%) ⇩ (Aug. 28, 2026, 4 p.m. EDT)
After hours: 8.82 -0.01 (-0.010%) ⇩ (Aug. 28, 2026, 7:42 p.m. EDT)

Short-term:★★☆☆☆Long-term:★⯪☆☆☆Dividends:★★☆☆☆
Hot Take | Aug. 22, 2026, 4:04 a.m. EDT

The investment case for MFA is currently broken by a severe disconnect between its reported profitability and its actual capital structure. While the company reports strong profit margins and earnings growth, the balance sheet is dangerously leveraged with a debt-to-equity ratio exceeding 650x. This leverage is not being priced in by the market, which has punished the stock with a 67% decline over the last nine years. The recent drop in distributable EPS relative to estimates confirms that the 'strategic growth' narrative is failing under the weight of credit stress. The 16% dividend yield is a dangerous trap; with a payout ratio above 140%, the company is paying out more than it earns, likely eroding shareholder value to maintain the payout. Options activity screams caution, with traders buying deep protection rather than betting on a recovery. Until the balance sheet deleveraging shows concrete progress, this remains a speculative hold with significant downside risk.

Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
MSTL ✓0.017411
AutoETS0.018925
AutoTheta0.022942
AutoARIMA0.023696

Forecast horizon: 45 days | Selected: MSTL

Forecast Reliability
Score 61%
H-stat 0.72
Ljung-Box p 0.000
Jarque-Bera p 0.471
Excess Kurtosis -0.24
Attribute Value
Sector Real Estate
Ex Dividend Date 2026-06-29
Last Dividend Date 2026-06-29
Debt to Equity Ratio 656.964
Revenue per Share 2.921
Market Cap 892,606,464
Trailing P/E 8.74
Forward P/E 6.32
Beta 1.50
Profit Margins 48.95%
Website https://www.mfafinancial.com

As of Aug. 22, 2026, 4:04 a.m. EDT: Speculators are heavily positioned for downside protection, evidenced by massive open interest in out-of-the-money puts (strikes 12.00 and higher) compared to negligible call volume. The implied volatility skew is severe, with deep OTM puts trading at significantly higher IV than calls, indicating a market pricing in a high probability of further decline rather than a rally.


Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
3.72% 15.26% 13.97% 13.79%
Dividend History
Date Dividend Yield %
2026-06-30 0.36 3.715170
2026-03-31 0.36 3.757829
2025-12-31 0.36 3.866810
2025-09-30 0.36 3.917302
2025-06-30 0.36 3.805497
2025-03-31 0.36 3.508772
2024-12-31 0.35 3.434740
2024-09-27 0.35 2.793296
2024-06-28 0.35 3.289474
2024-03-27 0.35 3.111111
2023-12-28 0.35 3.056769
2023-09-29 0.35 3.642040
2023-06-29 0.35 3.144654
2023-03-30 0.35 3.626943
2022-12-29 0.35 3.517588
2022-09-29 0.44 5.392157
2022-06-29 0.44 4.070305
2022-03-21 0.44 2.682927
2021-12-30 0.44 2.422908
2021-09-29 0.40 2.173913
2021-06-29 0.40 2.173913
2021-03-30 0.30 1.820388
2020-12-29 0.30 1.953125
2020-09-29 0.20 1.851852
2020-03-30 0.80 13.157895
2019-12-27 0.80 2.590674
2019-09-27 0.80 2.702703
2019-06-28 0.80 2.785515
2019-03-28 0.80 2.762431
2018-12-27 0.80 2.976191
2018-09-28 0.80 2.721088
2018-06-28 0.80 2.624672
2018-03-28 0.80 2.691790
2017-12-27 0.80 2.522068
2017-09-27 0.80 2.298851
2017-06-27 0.80 2.395209
2017-03-27 0.80 2.522068
2016-12-23 0.80 2.617801
2016-09-26 0.80 2.663116
2016-06-24 0.80 2.861230
2016-03-23 0.80 3.034901
2015-12-23 0.80 2.945508
2015-09-25 0.80 2.844950
2015-06-25 0.80 2.638522
2015-03-25 0.80 2.547771
2014-12-23 0.80 2.463054
2014-09-25 0.80 2.528445
2014-06-25 0.80 2.463054
2014-03-26 0.80 2.631579
2013-12-27 0.80 2.824859
2013-10-09 0.88 3.072626
2013-08-08 1.12 3.674541
2013-07-10 0.88 2.802548
2013-04-10 0.88 2.407002
2013-03-14 2.00 5.452563
2012-12-26 0.80 2.447980
2012-10-10 0.84 2.545455
2012-07-11 0.92 2.941176
2012-04-02 0.96 3.269755
2011-12-28 1.08 4.011887
2011-10-06 1.00 3.869969
2011-07-12 1.00 3.188775
2011-04-07 0.94 3.001277
2010-12-29 0.94 2.897657
2010-10-07 0.90 2.960526
2010-07-08 0.76 2.620690
2010-04-08 0.96 3.324100
2009-12-29 1.08 3.658537
2009-10-08 1.00 3.242542
2009-07-09 1.00 3.787879
2009-04-08 0.88 3.806228
2008-12-29 0.84 3.962264
2008-10-09 0.88 4.845815
2008-07-10 0.80 3.442341
2008-04-10 0.72 2.690583
2007-12-27 0.58 1.605759
2007-10-10 0.40 1.228501
2007-07-11 0.36 1.272984
2007-04-11 0.32 1.052632
2006-12-27 0.24 0.775194
2006-10-11 0.20 0.689655
2006-07-13 0.20 0.756430
2006-04-12 0.20 0.822368
2005-12-22 0.20 0.878735
2005-10-12 0.20 0.900901
2005-07-08 0.50 1.763047
2005-04-08 0.72 2.542373
2004-12-22 0.88 2.471910
2004-10-07 0.92 2.533040
2004-07-08 1.00 2.815315
2004-04-07 1.04 2.708333
2003-12-26 1.00 2.566735
2003-09-26 1.12 3.020496
2003-06-26 1.12 2.745098
2003-03-26 1.12 3.225806
2002-12-26 1.28 3.657143
2002-09-26 1.20 3.658537
2002-06-26 1.20 2.843602
2002-03-26 1.20 3.386005
2001-12-26 1.12 3.066813
2001-09-28 0.90 2.542373
2001-06-27 0.70 2.390710
2001-04-11 0.66 2.357143
2001-01-10 0.62 2.883721
2000-10-12 0.62 2.883721
2000-06-28 0.56 2.731707
2000-04-12 0.56 2.800000
1999-12-30 0.56 3.027027
1999-09-28 0.56 2.871795
1999-06-28 0.50 2.439024
1999-03-31 1.06 5.808219
1998-12-29 1.06 5.971831
1998-09-28 1.06 4.510638
1998-06-26 1.06 3.533333
Additional Data
dividendRate 1.44
dividendYield 16.25
exDividendDate 2026-06-30
trailingAnnualDividendRate 1.44
trailingAnnualDividendYield 0.16252823
lastDividendValue 0.36
lastDividendDate 2026-06-30
dividendDate 2026-07-31

Info Dump

Attribute Value
52 Week Change -0.11611611
Address1 One Vanderbilt Avenue
Address2 48th Floor
All Time High 44.28
All Time Low 1.28
Ask 8.92
Ask Size 7,700
Audit Risk 5
Average Analyst Rating 2.3 - Buy
Average Daily Volume10 Day 1,324,650
Average Daily Volume3 Month 1,568,163
Average Volume 1,568,163
Average Volume10Days 1,324,650
Beta 1.499
Bid 8.83
Bid Size 5,500
Board Risk 1
Book Value 17.568
City New York
Compensation As Of Epoch Date 1,767,139,200
Compensation Risk 1
Country United States
Crypto Tradeable 0
Currency USD
Current Price 8.83
Current Ratio 43.941
Custom Price Alert Confidence HIGH
Date Short Interest 1,786,665,600
Day High 8.92
Day Low 8.815
Debt To Equity 656.964
Display Name MFA Financial
Dividend Date 1,785,456,000
Dividend Rate 1.44
Dividend Yield 16.25
Earnings Call Timestamp End 1,785,942,000
Earnings Call Timestamp Start 1,785,942,000
Earnings Growth 0.619
Earnings Quarterly Growth 0.41
Earnings Timestamp 1,785,933,000
Earnings Timestamp End 1,793,881,800
Earnings Timestamp Start 1,793,881,800
Ebitda Margins 0.0
Enterprise To Revenue 41.013
Enterprise Value 12,419,876,864
Eps Current Year 1.08
Eps Forward 1.398
Eps Trailing Twelve Months 1.01
Esg Populated 0
Ex Dividend Date 1,782,777,600
Exchange NYQ
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fifty Day Average 9.2576
Fifty Day Average Change -0.4275999
Fifty Day Average Change Percent -0.046189066
Fifty Two Week Change Percent -11.61161
Fifty Two Week High 10.57
Fifty Two Week High Change -1.7399998
Fifty Two Week High Change Percent -0.16461682
Fifty Two Week Low 8.78
Fifty Two Week Low Change 0.05000019
Fifty Two Week Low Change Percent 0.005694783
Fifty Two Week Range 8.78 - 10.57
Financial Currency USD
First Trade Date Milliseconds 892,474,200,000
Five Year Avg Dividend Yield 13.19
Float Shares 98,609,262
Forward Eps 1.398
Forward P E 6.316166
Full Exchange Name NYSE
Full Time Employees 307
Fullday Change -0.0299997
Fullday Change Percent -0.338597
Fullday Price 8.82
Gmt Off Set Milliseconds -14,400,000
Governance Epoch Date 1,785,542,400
Gross Margins 0.87586
Gross Profits 265,235,008
Has Pre Post Market Data 1
Held Percent Insiders 0.01952
Held Percent Institutions 0.54576
Implied Shares Outstanding 101,087,938
Industry REIT - Mortgage
Industry Disp REIT - Mortgage
Industry Key reit-mortgage
Is Earnings Date Estimate 0
Language en-US
Last Dividend Date 1,782,777,600
Last Dividend Value 0.36
Last Fiscal Year End 1,767,139,200
Last Split Date 1,649,116,800
Last Split Factor 1:4
Long Business Summary MFA Financial, Inc., together with its subsidiaries, operates as a real estate investment trust in the United States. It operates through two segments: Mortgage-Related Assets and Lima One. The Mortgage-Related Assets segment primarily invests in and manages a diversified portfolio of residential whole loans, including nonqualified mortgage loans, business purpose loans such as single-family rental loans, single-family and multifamily transitional loans, legacy re-performing and non-performing loans, and agency-eligible investor loans. This segment also invests in residential mortgage-backed securities, including agency MBS, non-agency MBS, and credit risk transfer securities. The Lima One segment includes a stand-alone mortgage origination and servicing business; and originates and services business purpose loans for real estate investors, and related mortgage banking activities. The company offers residential whole loans, including purchased credit deteriorated and non-performing loans; and mortgage servicing rights-related assets. The company's investment activities through a combination of securitization transactions, term loan warehouse financing and repurchase agreement financing. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. MFA Financial, Inc. was incorporated in 1997 and is based in New York, New York.
Long Name MFA Financial, Inc.
Market us_market
Market Cap 892,606,464
Market State CLOSED
Max Age 86,400
Message Board Id finmb_235682
Most Recent Quarter 1,782,777,600
Net Income To Common 104,713,000
Next Fiscal Year End 1,798,675,200
Non Diluted Market Cap 895,639,130
Number Of Analyst Opinions 6
Open 8.9
Operating Cashflow 252,214,000
Operating Margins 0.53966
Overall Risk 2
Payout Ratio 1.4257001
Peg Ratio 2.48
Phone 212 207 6400
Post Market Change -0.010000229
Post Market Change Percent -0.11325288
Post Market Price 8.82
Post Market Time 1,787,960,573
Previous Close 8.86
Price Eps Current Year 8.175925
Price Hint 2
Price To Book 0.5026184
Price To Sales Trailing12 Months 2.9475594
Profit Margins 0.48951
Quick Ratio 43.133
Quote Type EQUITY
Recommendation Key buy
Recommendation Mean 2.28571
Region US
Regular Market Change -0.0299997
Regular Market Change Percent -0.338597
Regular Market Day High 8.92
Regular Market Day Low 8.815
Regular Market Day Range 8.815 - 8.92
Regular Market Open 8.9
Regular Market Previous Close 8.86
Regular Market Price 8.83
Regular Market Time 1,787,947,202
Regular Market Volume 1,267,649
Return On Assets 0.01171
Return On Equity 0.08239
Revenue Growth 0.202
Revenue Per Share 2.921
Sand P52 Week Change 0.20204377
Sector Real Estate
Sector Disp Real Estate
Sector Key real-estate
Share Holder Rights Risk 5
Shares Outstanding 101,087,938
Shares Percent Shares Out 0.0401
Shares Short 4,054,035
Shares Short Previous Month Date 1,784,073,600
Shares Short Prior Month 3,449,704
Short Name MFA Financial, Inc.
Short Percent Of Float 0.0404
Short Ratio 2.74
Source Interval 15
State NY
Symbol MFA
Target High Price 31.0
Target Low Price 10.0
Target Mean Price 14.0
Target Median Price 10.75
Total Cash 141,192,992
Total Cash Per Share 1.397
Total Debt 11,668,265,984
Total Revenue 302,828,992
Tradeable 0
Trailing Annual Dividend Rate 1.44
Trailing Annual Dividend Yield 0.16252823
Trailing Eps 1.01
Trailing P E 8.742575
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 9.60205
Two Hundred Day Average Change -0.7720499
Two Hundred Day Average Change Percent -0.0804047
Type Disp Equity
Volume 1,267,649
Website https://www.mfafinancial.com
Zip 10,017