MFA Financial, Inc. (MFA) announced its financial results for the second quarter on Thursday, revealing a shift from a loss last year to a profit this year.The company reported a quarterly profit of $41.9 million, a notable recovery from the $25.9 million loss recorded in the same period last year. This turnaround is primarily attributed to gains from residential whole loan charges. On a per-share basis, MFA Financial’s earnings stood at $0.32, compared to a loss of $0.34 per share in the previous year.Distributable earnings, which is a key performance metric for the company, increased to $45.6 million or $0.44 per share, from $40.5 million or $0.40 per share in the prior year’s quarter.Analysts surveyed by Thomson Reuters had anticipated earnings of $0.37 per share for the period.Interest income for the quarter rose to $186.8 million, up from $144.4 million in the same quarter last year.As of now, MFA Financial’s stock is trading at $11.03 on the New York Stock Exchange, reflecting a gain of 2.25 percent.The material has been provided by InstaForex Company – www.instaforex.com
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