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MFA.PR.B: A High Yield Preferred With Meaningful Duration Exposure At A Discount To Par

MFA Financial Series B preferred offers a ~9.25% yield, trade at a considerable discount to par, appealing to income-oriented investors. MFA continues to face portfolio losses, particularly in multifamily loans, with management expecting additional credit losses before conditions normalize. The preferred shares' senior claim is meaningful, but continued portfolio losses could erode common equity and threaten…

Seeking Alpha • Jul 7, 2026

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