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Here's Why MFA Financial Is Soaring Today

TheMotleyFool

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Here's Why MFA Financial Is Soaring TodayPhoto, wide shot, wide-angle lens, Bank, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/094456a7-d529-4ef2-b536-c031f2afd618.png

The stock market continued its post-election rally on Thursday, with all major market averages higher by at least 2% as of 3:25 p.m. EST. However, mortgage real estate investment trust MFA Financial (NYSE: MFA) was a big outperformer, up by about 6.2% at that point in the trading day after being up by as much as 12% earlier in the session.

The short explanation for that pop was that MFA's third-quarter earnings report handily surpassed analysts' expectations. The mortgage REIT earned $0.17 per share, and while that was less than the $0.20 per share it generated in the same quarter a year ago, it was more than triple the consensus forecast of $0.05 per share.

Image source: Getty Images.

Source Fool.com

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