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RBC Capital’s Review of MFA Financial Following Q2 Results

Analysts at RBC Capital updated their estimates on MFA Financial, Inc. (NYSE:MFA) following the company’s Q2 results, reported at the start of August. Q2 EPS came in at $0.46, beating the Street estimate of $0.42.
The analysts lowered their 2022 EPS estimate to $2.03 from $2.23, and their 2023 EPS estimate to $1.90 from $2.16. According to the analysts, leverage is likely to remain in the current range, as the company has been slowing its loan acquisition pace due to volatility and uncertainty around the cost of securitization.
Housing fundamentals remain solid and hence outlook for mortgage credit remains favorable. The analysts believe the risk/reward is fairly balanced and maintain their Sector Perform rating while lowering their price target to $13 from $15.

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