MFA Financial, Inc. (MFA), Thursday reported second-quarter profit, turning around from loss last year.
The quarterly profit was $41.9 million compared with loss of $25.9 million last year, mainly due to a gain on residential whole loan charges. On a per share basis, the specialty finance company reported earnings of $0.32 compared with loss per share of $0.34 in the previous year.
Distributable earnings were $45.6 million or $0.44 a share versus $40.5 million or $0.40 a share in prior year quarter.
On average, analysts polled by Thomson Reuters expected earnings of $0.37 a share for the period.
Interest income totaled to $186.8 million from last year's $144.4 million.
Currently, MFA Financial's stock is trading at $11.03, up 2.25 percent on the New York Stock Exchange.
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