DC's K streetARLINGTON, VA–Locally-based Arlington Asset Investment Corp. has announced that its Board of Directors has approved a plan for the company to qualify as a REIT for the company's taxable year ending December 31, 2019.
The company reported a net loss of $5.7 million, or $0.19 per diluted common share for the third quarter and it expects that it will be able to use its net operating loss carryforwards as a C corporation in 2019, according to J. Rock Tonkel, Jr., the company's President and CEO.
Recommended For You
“Remaining tax loss carryforwards upon REIT conversion will continue to be available to the Company as a REIT,” he says in a prepared statement.
Arlington Asset's Board of Directors has also received a legal opinion from Hunton Andrews Kurth LLP regarding its ability to qualify as a REIT next year.
Arlington Asset Investment invests primarily in mortgage-related and other assets.
As of September 30, 2018, its $4.4 billion specified agency MBS portfolio had a weighted average amortized cost basis of $104.75 and a weighted average market price of $102.17. Its net long TBA agency MBS investment portfolio had a purchase price of $783 million and market value of $781 million. It also had $4 billion of repurchase agreements outstanding with a weighted average rate of 2.30%.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
