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Related Companies Anworth Mortgage Asset Corp. (ANH)

Related Documents Earnings Release (ER) Anworth Mortgage Asset Corp. 9/30/2009, filed on 11/3/2009

Related Articles 11/6/2008 Anworth reports drop in Q3 earnings from MBS

Anworth Mortgage Asset Corp. on Nov. 3 reported third-quarter net income to common stockholders of $30.2 million, or 27 cents per share, compared to a net loss of $2.8 million, or 3 cents per share, in the year-ago quarter.

Net income from continuing operations was $31.7 million, or 27 cents per share, compared to a net loss from continuing operations of $9.0 million, or 12 cents per share, in the year-ago quarter.

The Thomson First Call mean third-quarter earnings estimate was 31 cents per share, according to SNL Financial.

"Given the current fiscal and monetary policy environment, we continue to be prudently maintaining leverage at the lower end of our historical range and have focused our purchases on 'soon to reset' hybrid Agency ARM assets," Chairman and CEO Lloyd McAdams said in a statement. "We are pleased that this strategy continues to provide net income significantly above most other income-oriented investment alternatives."

As of Sept. 30, the fair value of the company's agency MBS portfolio was $5.94 billion, compared to a value of $5.31 billion as of Dec. 31, 2008. On Sept. 30, about 22% of the portfolio was adjustable-rate agency MBS, 63% was hybrid adjustable-rate agency MBS, and about 15% was fixed-rate agency MBS. Less than 1% of the portfolio was agency floating-rate collateralized mortgage obligations.

As of Sept. 30, the current yield on the agency MBS portfolio was 5.23%, compared to a 5.35% yield as of June 30. Book value climbed to $7.58 per share as of Sept. 30, up from $7.30 per share on June 30.