2024-06-14 09:00:00 ET
Summary
- MFA Financial operates as a real estate investment trust in the US, investing in residential mortgage assets. The company has a strong financial position, with ample cash and stockholder's equity.
- MFA Financial recently issued a second Note that does not mature until 2029, making it ideal for long-term fixed income investors willing to accept some risks.
- In this article, I briefly review the issuer and both Notes, MFAN and MFAO. I give both a Hold rating as the spread against a 5-year CD is only 300bps.
Introduction
Maybe not the best timing for MFA Financial ( MFA ) but it could be ideal for long-term fixed income investors who believe interest rates have peaked. I am referring to the fact that MFA Financial recently issued a second Note that does not mature until 2029. They do have an out if rates drop as both are callable in 2026....
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For further details see:
MFA Financial Issues Second Note Due In 2029