MFA Financial Inc. (MFA) experienced a sharp decline in its stock price on November 6, 2024, plummeting 7.43% after the company reported disappointing third-quarter financial results.
The real estate investment trust (REIT) posted adjusted earnings per share of $0.36, missing the Zacks Consensus Estimate of $0.41 by a significant margin. Additionally, MFA Financial's revenue for the quarter came in at $50.63 million, falling short of the consensus estimate by 6.25%.
Despite the earnings miss, MFA Financial reported net income of $40 million for the third quarter of 2024. The company also declared a quarterly dividend of $0.35 per share, reflecting its commitment to returning value to shareholders.
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