MFA Financial, Inc. (NYSE:MFA) announced a quarterly dividend on Thursday, December 14th, Wall Street Journal reports. Investors of record on Thursday, December 28th will be given a dividend of 0.20 per share by the real estate investment trust on Wednesday, January 31st. This represents a $0.80 dividend on an annualized basis and a yield of 9.91%. The ex-dividend date is Wednesday, December 27th.
MFA Financial has decreased its dividend payment by an average of 2.4% per year over the last three years. MFA Financial has a payout ratio of 103.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect MFA Financial to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 96.4%.
MFA Financial (NYSE:MFA) traded up $0.11 during midday trading on Thursday, reaching $8.07. The company had a trading volume of 4,081,200 shares, compared to its average volume of 2,161,698. The firm has a market capitalization of $3,220.00, a P/E ratio of 10.90 and a beta of 0.66. MFA Financial has a 1-year low of $7.53 and a 1-year high of $8.90.
In other MFA Financial news, insider Ronald A. Freydberg purchased 20,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was purchased at an average cost of $7.78 per share, for a total transaction of $155,600.00. Following the acquisition, the insider now owns 579,714 shares in the company, valued at approximately $4,510,174.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.92% of the company’s stock.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded MFA Financial from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a report on Wednesday, October 4th. BidaskClub downgraded MFA Financial from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. JMP Securities downgraded MFA Financial from an “outperform” rating to a “market perform” rating in a report on Friday, October 20th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $9.00 price target on shares of MFA Financial in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.08.
About MFA Financial
MFA Financial, Inc is engaged in the real estate finance business. The Company’s subsidiaries invest in residential mortgage assets, including Non-Agency mortgage-backed securities (MBS), Agency MBS, residential whole loans and credit risk transfer (CRT) securities. The Company’s Non-Agency MBS portfolio primarily consists of Legacy Non-Agency MBS and 3 Year Step-up securities.
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