Arlington Asset Investment Corp
Arlington Asset Investment — Q3 2023 Earnings Presentation
12 slides from Arlington Asset Investment's earnings presentation, Nov 13, 2023
Slide 1: Investor Presentation Third Quarter 2023
Investor Presentation Third Quarter 2023 Exhibit 99.2
Slide 2: Information Related to Forward-Looking Statements
Information Related to Forward-Looking Statements Statements concerning interest rates, portfolio allocation, financing costs, portfolio hedging, prepayments, dividends, book value, utilization of loss carryforwards, any change in long-term tax structures (including any REIT election), use of equity
Slide 3: Q3 2023 Financial Highlights
Q3 2023 Financial Highlights $6.41 book value per common share as of September 30, 2023 A 3.5% decrease from $6.64 book value per common share as of June 30, 2023 $0.26 GAAP net loss attributable to common shareholders per diluted common share $0.07 non-GAAP earnings available for distribution(1) pe
Slide 4: Investment Portfolio Allocation
Investment Portfolio Allocation as of September 30, 2023 Investment Asset Allocation Invested Capital Allocation Calculated the ratio of the sum of repurchase agreement financing, net payable or receivable for unsettled securities, net contractual forward price of TBA commitments and financing embed
Slide 5: MSR Related Assets
MSR Related Assets Allocated Investable Capital (1) as of Quarter End $191.8 million Invested Capital Allocation % 64% Leverage Ratio as of Quarter End 0.0x Q3 Weighted Average GAAP Asset Yield 14.63% MSR Related Assets as of September 30, 2023 (Dollars in thousands) AAIC has a strategic relationshi
Slide 6: Credit Investments
Credit Investments Investable capital is calculated as the Company’s GAAP shareholders’ equity plus long-term unsecured debt. Leverage ratio is calculated as [short-term secured financing collateralized by credit investments +(-) net payable (receivable) for unsettled securities] divided by the allo
Slide 7: Agency MBS Investments
Agency MBS Investments Agency MBS Investment Portfolio as of September 30, 2023 (Dollars in thousands) Investable capital is calculated as the Company’s GAAP shareholders’ equity plus long-term unsecured debt. Leverage ratio is calculated as [repurchase agreement financing collateralized by agency M
Slide 8: Book Value Per Share Rollforward
Book Value Per Share Rollforward Net of income tax provision (benefit) for TRS investment gain (loss), net. Net of accrued incentive fees to the Company’s third-party investment manager. Excludes TBA dollar roll income (expense) which is included in non-GAAP earnings available for distribution. Excl
Slide 9: Publicly Traded Capital
Publicly Traded Capital Class A Common Stock Ticker: AAIC Exchange: NYSE Market Capitalization: $126 million (1) Senior Notes Due 2026 Ticker: AAIN Exchange: NYSE Per Annum Interest Rate: 6.00% Current Strip Yield per Annum: 8.59%(1)(2) Maturity Date: August 1, 2026 Series B Cumulative Perpetual Red
Slide 10: Balance Sheet
Balance Sheet Represents common shares outstanding plus vested restricted stock units convertible into common stock less shares of unvested restricted common stock. The amount of unvested restricted common stock was 828 as of September 30, 2023. Does not include performance-based restricted stock un
Slide 11: Statement of Comprehensive Income
Statement of Comprehensive Income
Slide 12: Non-GAAP Earnings Available for Distribution
Non-GAAP Earnings Available for Distribution(1) Earnings available for distribution (formerly referred to as core operating income) is a non-GAAP financial measures used by management to evaluate the financial performance of the Company’s long-term investment strategy and core business activities ov
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