MFA Financial (MFA) has risen sharply, recording gains of 3.2% in the past 4 weeks. However, the stock has corrected -0.39% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.81% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
MFA Financial, Inc. is up 13.43% in the last 3-month period. Year-to-Date the stock performance stands at 24.05%. The stock has recorded a 20-day Moving Average of 1.03% and the 50-Day Moving Average is 4.69%.
MFA Financial (NYSE:MFA): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.69 and $7.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.73. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.73, notching a gain of 0.65% for the day. The total traded volume was 892,176 . The stock had closed at $7.68 on the previous day.
Also, In the latest statement by the brokerage house, Deutsche Bank maintains its outlook on MFA Financial (NYSE:MFA). The current rating of the shares is Hold, according to the research report released by the firm. The brokerage firm raises the price target from $7.25 per share to $7.5 per share. The rating by the firm was issued on August 9, 2016.
MFA Financial, Inc. is a real estate investment trust (REIT). The Company is engaged in the real estate finance business.The Company, through subsidiaries, invests in residential mortgage assets, including Agency mortgage backed securities (MBS), Non-Agency MBS and residential whole loans. The Companys business objective is to deliver shareholder value through the generation of distributable income and through asset performance linked to residential mortgage credit fundamentals. The Companys Agency MBS portfolio consists of Hybrids, 15-year fixed-rate mortgages and adjustable-rate mortgages (ARMs). The Hybrid loans have initial a fixed-rate periods at origination of three, five, seven or 10 years. The Non-Agency MBS portfolio primarily consists of Legacy Non-Agency MBS and MBS collateralized by re-performing and non-performing loans (RPL/NPL MBS).