Core Points - New York Mortgage Trust, Inc. successfully completed a consent solicitation, securing necessary consents from holders of a majority of its outstanding 5.75% Senior Notes due 2026 to approve a proposed amendment to the indenture governing the Notes [1][2] - The Company will pay a cash payment of $4.00 per $1,000 principal amount of Notes for which valid consents were delivered by the expiration date [3] - The consent payment is contingent upon the satisfaction or waiver of certain conditions outlined in the Consent Solicitation Statement [4] Company Overview - New York Mortgage Trust, Inc. is a Maryland corporation that has elected to be taxed as a real estate investment trust (REIT) for federal income tax purposes, focusing on acquiring, investing in, financing, and managing primarily mortgage-related residential assets [5]

NEW YORK, June 12, 2025 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”) announced today that its Board of Directors (the “Board”) declared a regular quarterly cash dividend of $0.20 per share on shares of its common stock for the quarter ending June 30, 2025. The dividend will be payable on July 30, 2025 to common stockholders of record as of the close of business on June 23, 2025. In addition, the Board declared cash dividends on the Company’s 8.000% Series D Fixed-to-Float ...

Group 1 - The article discusses the author's journey into investing, starting in high school in 2011, focusing on REITs, preferred stocks, and high-yield bonds, indicating a long-standing interest in markets and the economy [1] - The author has recently adopted a strategy that combines long stock positions with covered calls and cash secured puts, emphasizing a fundamental long-term investment approach [1] - The author primarily covers REITs and financials on Seeking Alpha, with occasional articles on ETFs and other stocks influenced by macro trade ideas [1]

NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) (“NYMT” or the “Company”) today announced that it is soliciting consents (the “Consent Solicitation”) from holders of its outstanding 5.75% Senior Notes due 2026 (the “Notes”) as of 5:00 p.m. New York City time, on May 30, 2025 (the “Record Date”) to a proposed amendment to the indenture governing such Notes (the “Indenture”). The Consent Solicitation is being made solely upon the terms and conditions described in the C ...

Financial Performance - Net income attributable to common stockholders was $0.33 per share for the first quarter of 2025[247]. - Earnings available for distribution was $0.20 per share for the first quarter of 2025, indicating continued momentum in portfolio growth and income generation[247]. - Net income attributable to the Company's common stockholders for Q1 2025 was $30,285,000, with a basic earnings per share of $0.33[269]. - The Company reported a net income attributable to common stockholders of $30.285 million for the three months ended March 31, 2025, compared to a loss of $68.340 million in 2024, an improvement of $98.625 million[282]. - Basic earnings per common share improved to $0.33 in 2025 from a loss of $0.75 in 2024, reflecting a change of $1.08[282]. - Economic return on book value for Q1 2025 was 3.13%, while the economic return on adjusted book value was 2.71%[269]. Investment Portfolio - The total investment portfolio reached $8.26 billion as of March 31, 2025, after accounting for acquisitions and repayments[242]. - The fair value of residential loans increased to $2.95 billion as of March 31, 2025, from $2.88 billion at the end of 2024[242]. - Agency RMBS holdings grew to $4.56 billion as of March 31, 2025, up from $3.14 billion at the end of 2024[242]. - The Company allocated $3,913,268,000 to residential loans and $4,646,812,000 to investment securities available for sale as of March 31, 2025[276]. - The total fair value of residential loan securitizations increased to $1.554 billion as of March 31, 2025, compared to $1.253 billion on December 31, 2024, representing a growth of approximately 24%[348]. - The investment securities portfolio's fair value increased to $4.794 billion as of March 31, 2025, from $3.977 billion on December 31, 2024, marking an increase of approximately 20.5%[350]. Interest Income and Expenses - Interest income increased by 55% and adjusted interest income increased by more than 57% for the first quarter of 2025 compared to the same period in 2024[247]. - Interest income for the same period was $129,734,000, while interest expense was $96,636,000, resulting in a net interest income of $33,098,000[269]. - The yield on average interest-earning assets was 6.47%, and the net interest spread was 1.32%[269]. - Adjusted interest income for the three months ended March 31, 2025, increased by approximately $44.7 million to $122.770 million compared to $78.091 million in the same period of 2024[313]. - Adjusted interest expense rose by approximately $34.7 million to $86.560 million for the three months ended March 31, 2025, compared to $51.896 million in 2024[314]. - Adjusted net interest income for the three months ended March 31, 2025, was $36.210 million, up from $26.195 million in 2024, reflecting a year-over-year increase of 38.3%[315]. Asset Acquisition and Disposition - The company acquired approximately $4.1 billion of assets during the year ending December 31, 2024, and an additional $1.9 billion during the three months ended March 31, 2025[246][247]. - The company is repositioning its business by opportunistically disposing of joint venture equity investments in multi-family properties[243]. - The company expects to continue opportunistically disposing of assets from its multi-family portfolio while focusing on investments in the residential housing sector[251]. - The company has maintained its qualification as a REIT and intends to continue compliance with the Internal Revenue Code provisions[245]. Economic and Market Conditions - The U.S. GDP contracted by 0.3% in the first quarter of 2025, marking the first quarter of contraction since Q1 2022, compared to a 2.4% growth in Q4 2024[255]. - The unemployment rate in the U.S. was 4.2% at the end of March 2025, slightly up from 4.1% at the end of December 2024, with 7.1 million unemployed persons[256]. - Effective rents for professionally managed apartments grew 1.1% for the twelve months ended March 2025, but there were significant regional disparities in rent growth[260]. - Investment grade credit spreads widened by 15 basis points and high-yield spreads by 63 basis points during the first quarter of 2025[261]. Debt and Financing - The Company completed the issuance of $82.5 million in aggregate principal amount of 9.125% Senior Notes due 2030, with net proceeds of approximately $79.3 million[272]. - The Company had $4.1 billion outstanding under repurchase agreements as of March 31, 2025, with a weighted average interest rate of 4.49%[354][355]. - The company had commitments to fund up to $184.8 million of additional advances on existing business purpose loans as of March 31, 2025[424]. - The common stock repurchase program had $189.7 million remaining available as of March 31, 2025, and it also expires on March 31, 2026[419]. Joint Ventures and Equity Investments - The Company’s net equity in consolidated joint venture equity investments totaled $155.9 million as of March 31, 2025, compared to $153.7 million on December 31, 2024[368]. - The net joint venture equity investments in consolidated multi-family properties not in disposal group held for sale totaled $136.0 million as of March 31, 2025[373]. - The company recognized no joint venture equity investments reclassified from disposal group held for sale in Q1 2025, compared to a loss of $14,636,000 in Q1 2024[294]. Risk Management - The company utilizes interest rate caps and swaps to manage interest rate risk in its portfolio[431]. - Changes in interest rates could impact adjusted net interest income significantly, with a +200 basis point change resulting in a decrease of $90,470 thousand[433]. - The company may be required to enter into interest rate cap contracts as part of its financing arrangements[416].

Core Insights - Noor Darwish, a former management consultant at BCG, focuses on investing in companies trading at significant discounts to their net asset value or liquidation value, as well as crypto-related equities [1] - In February 2023, Noor fully rotated his portfolio into crypto, investing in GDLC at $6 per share and selling at $21, achieving a 250% portfolio gain, which outperformed both Bitcoin and the broader market [1] - Noor has also transitioned to other Grayscale private placements, which yielded an 80% gain in 6 months, and relocated to Puerto Rico to benefit from a 0% capital gains tax rate under the Act 60 program [1] Investment Strategy - The investment strategy includes focusing on substantial discounts to net asset value and liquidation value, alongside crypto investments [1] - The successful rotation into crypto and subsequent sales highlight a strategy that capitalizes on market volatility and growth potential in the crypto sector [1] - The move to Puerto Rico is a strategic decision to maximize tax efficiency on capital gains, particularly in anticipation of future gains from crypto investments [1] Job Application Service - Noor operates OverApply, a job application service that allows clients to outsource their job search, resulting in over 300,000 job applications, 4,000 interviews, and 500 job offers [1]

New York Mortgage Trust (NYMT) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Company Participants Kristi Mussallem - AVP - Investor RelationsJason Serrano - Chief Executive OfficerKristine Nario-Eng - CFONicholas Mah - PresidentRandy Binner - Managing DirectorMatthew Erdner - Director Conference Call Participants Marissa Lobo - Analyst Operator Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the New York Mortgage Trust First Quarter twenty twenty five Results Conference Call. Duri ...

New York Mortgage Trust (NYMT) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Company Participants Kristi Mussallem - AVP - Investor RelationsJason Serrano - Chief Executive OfficerKristine Nario-Eng - CFONicholas Mah - PresidentRandy Binner - Managing DirectorMatthew Erdner - Director Conference Call Participants Marissa Lobo - Analyst Operator Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the New York Mortgage Trust First Quarter twenty twenty five Results Conference Call. Duri ...

Financial Data and Key Metrics Changes - The recurring earnings in Q1 2025 increased to a level consistent with the company's dividend of $0.20 per share, reflecting a strategic portfolio restructuring initiated two years ago [6][7] - Earnings Available for Distribution (EAD) per share rose to $0.20 in Q1 2025 from $0.16 in Q4 2024, while quarterly EPS contribution from adjusted net interest income increased to $0.40 per share, up from $0.36 in the prior quarter [12][13] - GAAP book value and adjusted book value per share increased to $9.37 and $10.43 respectively, representing a 1% increase compared to the end of 2024 [17] Business Line Data and Key Metrics Changes - Agency RMBS investments now account for over 50% of company assets, with approximately $1.5 billion of Agency RMBS purchased in Q1 2025, nearly four times more than the previous quarter [11][18] - In the residential credit sector, $397 million of whole loans were purchased, with a focus on bridge loans and rental loans [19][20] - The portfolio recourse leverage ratio decreased to 0.5 times from 1.1 times, reflecting successful securitizations in the residential loan sector [10][17] Market Data and Key Metrics Changes - The market experienced spread widening in Agency RMBS and residential credit, with current coupon agency spreads widening from 135 basis points to 143 basis points [22] - As of April 2025, adjusted book value is estimated to be down approximately 1.5% [38] Company Strategy and Development Direction - The company aims to maintain a strong focus on Agency RMBS while also exploring opportunities in residential credit, particularly BPL rental loans [21][41] - The strategic shift towards more liquid agency RMBS is intended to enhance flexibility in capital allocation depending on market conditions [21][22] - The company has reduced its JV equity exposure to less than 1% of the overall portfolio, indicating a shift in investment strategy [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for additional revenue generation through service fee income and highlighted the importance of operational efficiencies in supporting dividend coverage [8][12] - The company anticipates continued market volatility but is prepared to deploy liquidity into attractive investment opportunities as they arise [21][22] - Management does not foresee significant impacts from potential GSE reforms in the near to medium term [33][34] Other Important Information - The company recognized net unrealized gains of $118.2 million during the quarter, primarily from higher valuations in the agency RMBS portfolio [14] - General and administrative expenses increased slightly due to non-recurring employee severance costs related to restructuring initiatives [16] Q&A Session Summary Question: Impact of FHFA and GSEs changes on business - Management discussed potential GSE reforms, indicating that it could lead to higher mortgage rates and liquidity issues, but does not expect significant changes in the near term [33][34] Question: Update on book value performance in Q2 - As of April 2025, adjusted book value is estimated to be down approximately 1.5% [38] Question: Capital allocation strategy amidst market volatility - Management confirmed a continued focus on Agency RMBS and BPL, with a preference for BPL rental over BPL bridge loans [40][41] Question: Timing surrounding mezzanine and multifamily investments - The 10% payoff rate mentioned was year-to-date as of early April, with expectations for continued resolutions in the multifamily mezzanine portfolio [44] Question: Future capital allocation preferences - Management expressed a preference for Agency RMBS in the near term but acknowledged the potential for shifts depending on market conditions [46]

分组1 - New York Mortgage Trust (NYMT) reported quarterly earnings of $0.20 per share, exceeding the Zacks Consensus Estimate of $0.10 per share, compared to a loss of $0.30 per share a year ago, representing an earnings surprise of 100% [1] - The company posted revenues of $33.1 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 6.68%, and compared to year-ago revenues of $17.86 million [2] - Over the last four quarters, New York Mortgage Trust has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] 分组2 - The stock's immediate price movement will depend on management's commentary on the earnings call and future earnings expectations [3] - New York Mortgage Trust shares have lost about 3.1% since the beginning of the year, while the S&P 500 has declined by 5.5% [3] - The current consensus EPS estimate for the coming quarter is $0.13 on $33.06 million in revenues, and $0.49 on $135.96 million in revenues for the current fiscal year [7] 分组3 - The estimate revisions trend for New York Mortgage Trust is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The REIT and Equity Trust industry is currently in the bottom 43% of the Zacks industries, which may impact stock performance [8] - Ready Capital, another stock in the same industry, is expected to report quarterly earnings of $0.12 per share, representing a year-over-year change of -58.6% [9]