Increased Book Value
The company increased its book value from $10.39 to $10.46, despite a 1.8% dilution from the acquisition of Arc Home shares, and supported a $0.21 dividend.
Earnings Increase
Earnings available for distribution (EAD) increased to $0.23 per share from $0.18 in the previous quarter, driven by core investment portfolio performance.
Investment Portfolio Growth
The investment portfolio grew by over 20%, with $1.7 billion of residential mortgage loans acquired and four securitizations executed.
Arc Home Contribution
Arc Home contributed $0.03 per share to EAD, with record HELOC volumes and profitability growth.