MFA Financial, Inc.

MFA Financial, Inc. reported net income of $176.8 million for fiscal year 2025, with net income available to common stock of $136.5 million after preferred dividends of $40.3 million. The company generated $745.1 million in interest income, primarily from residential whole loans ($605.6 million) and securities ($121.3 million), offset by $514.0 million in interest expense. Net interest income was $231.1 million, and other income contributed $101.0 million, driven by a $133.7 million gain on residential whole loans measured at fair value. Operating expenses totaled $155.1 million. The balance sheet shows total assets of $13.05 billion, with residential whole loans ($8.81 billion) and securities ($3.36 billion) as major components. Total liabilities were $11.22 billion, resulting in stockholders' equity of $1.83 billion. Cash flow from operations was $76.2 million, while investing activities used $1.79 billion primarily for loan purchases and securities acquisitions. Financing activities provided $1.49 billion from net borrowings. The company paid $148.2 million in common stock dividends and $40.3 million in preferred stock dividends.

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