Arlington Asset Investment Corp. Reports First Quarter 2022 Financial Results – … – Press Release

MCLEAN, Va., May 12, 2022 /PRNewswire/ — Arlington Asset Investment Corp. AAIC (the “Company” or “Arlington“) today reported financial results for the quarter ended March 31, 2022. 

First Quarter 2022 Financial Highlights

  • $6.19 per common share of book value
    • 0.5% increase from December 31, 2021
  • $0.12 per diluted common share of GAAP net loss
  • $0.05 per diluted common share of non-GAAP core operating income[1]
    • $0.03 per diluted common share increase from fourth quarter of 2021
  • $0.09 per common share of book value accretion from the repurchase of 3.3% of the outstanding shares of common stock
    • Purchased an additional 2.0% of the outstanding shares of common stock through May 11, 2022
    • 11.4 million share remaining authorization as of May 11, 2022
  • 1.3 to 1 “at risk” leverage ratio

“Over the last 24 months, we have thoroughly repositioned Arlington from a primarily levered agency MBS strategy to one focused on establishing multiple high return, non-commodity investment channels in mortgage servicing rights (“MSRs”), single-family residential (“SFR”) rental properties and select credit investments.

“The execution of this strategy has enabled the Company to produce outsized recent returns relative to other residential mortgage REITs, evidenced by the Company generating an economic return that was among the top 10% of its peers over the last six months,” said J. Rock Tonkel, Jr., the Company’s President and Chief Executive Officer. 

“The actions taken by the Company allowed us to grow book value during a time when traditional mortgage REITs have been battling an exceptionally volatile market environment.  Today, the Company has a flexible investment platform across multiple residential asset classes that has created high returns while operating with low leverage and high liquidity. 

“As you see from our recent results, the Company’s differentiated strategy is well suited to perform in various market conditions.  Having grown to 50% of investment capital, our MSR portfolio…