New York Mortgage Trust, Inc. 2025 First Quarter Financial Summary These and other risks, uncertainties and factors, including the risk factors and other information described in our most recent Annual Report on Form 10-K, as updated and supplemented from time to time, and our subsequent Quarterly Reports on Form 10-Q and other information that we file from time to time with the U.S. Securities and Exchange Commission ("SEC") under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), could ...

Financial Performance - Net income attributable to common stockholders for Q1 2025 was $30,285,000, with earnings per share of $0.33[3] - The company reported a net income attributable to common stockholders of $30,285 thousand for the three months ended March 31, 2025, compared to a net loss of $68,340 thousand for the same period in 2024[28] - Net income attributable to the Company was $42.155 million, compared to a net loss of $31.389 million in the previous quarter[30] - GAAP net income attributable to common stockholders for Q1 2025 was $30.285 million, compared to a loss of $41.828 million in Q4 2024[44] - Earnings available for distribution (EAD) attributable to common stockholders for Q1 2025 was $18.194 million, up from $14.178 million in Q4 2024[44] Interest Income and Expenses - Interest income for the quarter was $129,734,000, while interest expense totaled $96,636,000, resulting in net interest income of $33,098,000[3] - Interest income rose to $129,734 thousand for the three months ended March 31, 2025, compared to $83,892 thousand for the same period in 2024, marking an increase of 54.7%[28] - Interest income for the three months ended March 31, 2025, was $129.734 million, an increase of 9.9% from $118.253 million in the previous quarter[30] - Total net interest income rose to $33.098 million, up 24% from $26.711 million in the previous quarter[30] - The net interest benefit of interest rate swaps contributed $5,840 to adjusted net interest income for December 31, 2024[37] Investment Activities - The company purchased approximately $1.5 billion of Agency RMBS with an average coupon of 5.35% and $396.8 million in residential loans with an average gross coupon of 9.33%[5] - Two securitizations of residential loans generated approximately $326.3 million in net proceeds after expenses[8] - The total investment portfolio carrying value was $8,270,581,000 as of March 31, 2025[11] Assets and Liabilities - Total assets increased to $10,004,055 thousand as of March 31, 2025, up from $9,217,282 thousand as of December 31, 2024, representing an increase of approximately 8.5%[26] - Total liabilities increased to $8,585,743 thousand as of March 31, 2025, from $7,806,148 thousand as of December 31, 2024, an increase of approximately 9.9%[26] - The company reported net equity investments in consolidated multi-family properties of $154.2 million and $19.9 million in disposal group held for sale as of March 31, 2025[54] Shareholder Actions - The company repurchased 231,200 shares of common stock for a total cost of approximately $1.5 million, averaging $6.50 per share[7] - The weighted average shares outstanding-basic decreased to 90,583 thousand for the three months ended March 31, 2025, from 91,117 thousand for the same period in 2024[28] - Weighted average shares outstanding for Q1 2025 were 90.583 million, slightly up from 90.579 million in Q4 2024[44] Book Value and Returns - The adjusted book value per common share at the end of the period was $10.43, with an economic return on adjusted book value of 2.71%[3] - Adjusted book value per common share as of March 31, 2025, was $10.43, compared to $10.35 as of December 31, 2024[50] - Book value per common share increased to $9.37, up from $9.28 in the previous quarter[30] Unrealized Gains and Losses - The company reported unrealized gains of $118,203 thousand for the three months ended March 31, 2025, compared to unrealized losses of $(39,390) thousand for the same period in 2024[28] - The company recorded unrealized gains (losses) of $(118.203) million in Q1 2025, compared to $131.576 million in Q4 2024[44] Strategic Repositioning - The strategic repositioning included the acquisition of Agency RMBS and business purpose loans to expand interest income levels[40] - The company is repositioning its business by opportunistically disposing of joint venture equity investments in multi-family properties[52] - The company has classified certain joint venture equity investments as held for sale as of March 31, 2025[52] Earnings Available for Distribution - Earnings Available for Distribution (EAD) will replace undepreciated earnings as a non-GAAP financial measure starting from March 31, 2025[39] - EAD is defined as GAAP net income excluding various non-recurring and non-cash items, providing a clearer indication of the company's income-generating capacity[41] - The Board of Directors considers EAD among other factors when determining dividends on common stock, but it does not guarantee dividend payments[43]

Core Insights - New York Mortgage Trust, Inc. reported a net income of $30.285 million for the first quarter of 2025, translating to a basic earnings per share of $0.33, a significant recovery from a net loss of $68.34 million in the same period of the previous year [2][37][41] - The company achieved an economic return on book value of 3.13% and an economic return on adjusted book value of 2.71% for the quarter [2][4] - The company completed the issuance of $82.5 million in senior notes, raising approximately $79.3 million in net proceeds, which will support its investment activities [6] Financial Performance - Interest income for the quarter was reported at $129.734 million, up from $83.892 million year-over-year, while interest expense increased to $96.636 million from $66.029 million [37][41] - The net interest income for the quarter was $33.098 million, compared to $17.863 million in the same quarter of the previous year [37][41] - The yield on average interest-earning assets was 6.47%, with a net interest spread of 1.32% [2][23] Investment Activities - The company purchased approximately $1.5 billion in Agency RMBS with an average coupon of 5.35% and $396.8 million in residential loans with an average gross coupon of 9.33% [7] - Two securitizations of residential loans were completed, resulting in net proceeds of approximately $326.3 million [8] - The company repurchased 231,200 shares of its common stock for a total cost of approximately $1.5 million, averaging $6.50 per share [9] Capital Allocation - As of March 31, 2025, the total investment portfolio carrying value was $8.270581 billion, with significant allocations in residential loans and investment securities [11] - The company reported total assets of $10.004055 billion, an increase from $9.217282 billion at the end of the previous year [35] Management Commentary - The CEO highlighted that the increased investment activity in the first quarter was a response to more attractive market conditions, leading to a substantial boost in earnings [10] - The management believes that the strengthened balance sheet will provide flexibility to capitalize on market dislocations and further grow earnings throughout the year [11]

Core Viewpoint - New York Mortgage Trust, Inc. is set to report its financial results for Q1 2025 on April 30, 2025, followed by a conference call on May 1, 2025 [1] Company Information - New York Mortgage Trust, Inc. is a Maryland corporation that operates as a real estate investment trust (REIT) for federal income tax purposes [3] - The company focuses on acquiring, investing in, financing, and managing primarily mortgage-related single-family and multi-family residential assets [3]

Group 1 - New York Mortgage Trust (NYMT) has experienced significant selling pressure, resulting in a 15.7% decline over the past four weeks, but it is now considered to be in oversold territory with potential for recovery [1] - The Relative Strength Index (RSI) for NYMT is currently at 27.29, indicating that the heavy selling may be exhausting itself, suggesting a possible bounce back towards equilibrium [5] - Analysts have raised earnings estimates for NYMT by 0.7% over the last 30 days, which typically correlates with price appreciation in the near term [7] Group 2 - NYMT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a strong potential for a turnaround [8]

Company Overview - New York Mortgage Trust (NYMT) shares increased by 5.2% to close at $5.66, following a significant trading volume compared to normal sessions, despite a 19.2% loss over the past four weeks [1] - The company is expected to report quarterly earnings of $0.11 per share, reflecting a year-over-year increase of 136.7%, with revenues projected at $22.91 million, up 28.3% from the previous year [3] Market Context - The surge in NYMT's stock price is attributed to a broader market rally, driven by optimism from Trump's announcement on April 9, 2025, regarding a 90-day pause on reciprocal tariffs for most trading partners, excluding China [2] - The tariff pause is expected to alleviate cost pressures, improving margins and profitability for mREIT stocks, thereby boosting investor confidence in NYMT [2] Earnings Estimates - The consensus EPS estimate for NYMT has been revised 3.9% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [4] - NYMT currently holds a Zacks Rank of 2 (Buy), suggesting favorable market sentiment towards the stock [4] Industry Comparison - In the same REIT and Equity Trust industry, BrightSpire (BRSP) also saw a 4.4% increase in its stock price, closing at $4.74, although it has experienced a -22.5% return over the past month [4]

NEW YORK, March 20, 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 March 31, 2025. The dividend will be payable on April 28, 2025 to common stockholders of record as of the close of business on March 31, 2025. In addition, the Board declared cash dividends on the Company's 8.000% Series D Fixed-to-Fl ...

NEW YORK, March 20, 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 March 31, 2025. The dividend will be payable on April 28, 2025 to common stockholders of record as of the close of business on March 31, 2025. In addition, the Board declared cash dividends on the Company’s 8.000% Series D Fixed-to-F ...

In this article, we discuss the mortgage REIT New York Mortgage Trust, Inc. ( NYMT ). Specifically, we focus on the company's Q4 results and touch on its liability profile. We also discuss the capitalCheck out Systematic Income and explore our Income Portfolios, engineered with both yield and risk management considerations. Use our powerful Interactive Investor Tools to navigate the BDC, CEF, OEF, preferred and baby bond markets.Read our Investor Guides: to CEFs, Preferreds and PIMCO CEFs. Check us out on ...

Investment Strategy - The company has reduced exposure in its multi-family investments to $19.5 million over two properties after disposing of investments in 15 multi-family properties, generating net gains of approximately $16.0 million[43]. - The company anticipates allocating less capital to multi-family investments going forward, focusing on preferred equity and mezzanine loans[34]. - The company’s Agency RMBS portfolio is primarily comprised of fixed-rate RMBS and ARMs, with leverage expected to be employed through repurchase agreements[30]. - The company has made strategic repositioning decisions, including the opportunistic disposition of joint venture equity investments in multi-family properties[43]. - The company may change its investment and financing strategies without stockholder consent, which could affect its operational stability[90]. - The company’s investment strategy may be adversely affected by interest rate mismatches between interest-earning assets and borrowings, potentially reducing net income[101]. - The company’s portfolio may be concentrated in certain asset types or geographic areas, increasing exposure to economic downturns and risks associated with real estate[103]. - The competitive market for investment opportunities may hinder the company's ability to acquire targeted assets at favorable terms, impacting net income[156]. Financial Leverage and Risk - The company’s maximum leverage ratios are set at 15:1 for liquid Agency securities, between 4:1 and 6:1 for illiquid assets, and 8:1 for residential loans, with a target total debt leverage ratio not exceeding 4:1[48]. - As of December 31, 2024, the company’s recourse leverage ratio was approximately 3.0 to 1, and the portfolio recourse leverage ratio was approximately 2.9 to 1[50]. - The company employs leverage as part of its financing strategy, relying on a mix of short-term and long-term repurchase agreements and structured financings[48]. - Increased leverage may exacerbate losses and reduce cash available for distribution to stockholders[172]. - The company may face challenges in meeting debt service obligations, risking asset sales to satisfy debts[173]. - The company may have limited or no ability to sell or transfer assets transferred to the SPE, which could adversely affect liquidity and cash available for distribution to stockholders[177]. Regulatory Compliance - The company is subject to various regulatory requirements, including those under the Dodd-Frank Act and the Gramm-Leach-Bliley Act, which impact its operations[68]. - The company must distribute at least 90% of its ordinary taxable income each year to qualify as a REIT, which is crucial for its financial strategy[71]. - The company’s ability to maintain its qualification as a REIT for federal tax purposes is critical for its operations and distributions[90]. - Changes in laws and regulations affecting the relationship with government-sponsored entities may materially impact the company's financial condition and operations[90]. - The company must maintain its exemption from regulation as an investment company under the Investment Company Act, which imposes limits on its operations and asset acquisitions[203]. - Failure to qualify as a REIT could result in significant tax liabilities, adversely affecting the company's operations and distributions[214][216]. Employee and Workplace Policies - As of December 31, 2024, the company had 70 full-time employees across its offices in New York, Charlotte, and Woodland Hills[64]. - The company believes that its employees are its greatest asset and focuses on recruitment, training, and retention to enhance business growth[64]. - The company has a hybrid workplace policy allowing employees to work partly from the office and partly remotely, promoting flexibility[67]. - The company is committed to maintaining a diverse workforce, with women comprising 29% and 33% of employees self-identifying as ethnically diverse as of December 31, 2024[66]. Market and Economic Risks - The company anticipates that increases in interest rates will generally decrease net income and the market value of the investment portfolio[91]. - A decline in the market value of interest-bearing assets may require the company to post additional collateral, reducing liquidity and potentially leading to asset liquidation at unfavorable prices[92]. - The company faces risks related to increased defaults and prepayment rates, which could adversely affect the performance of its assets[93]. - The market value of the investment portfolio may decline due to various factors, including adverse economic conditions and changes in credit spreads[93]. - Economic downturns and disruptions in the mortgage markets could lead to increased delinquencies and defaults, adversely affecting net interest income and earnings[191]. - The U.S. Government's credit rating downgrade in August 2023 could negatively impact financial markets and the credit risk associated with the company's targeted assets[194]. Asset Management and Valuation - As of December 31, 2024, 49% of the total investment portfolio was comprised of "credit assets" which exposes the company to significant credit risk[94]. - The company holds a 50% equity interest in a loan originator, which exposes it to additional risks due to the unsecured nature of these investments[110]. - Business purpose loans constitute approximately 25.9% of the asset value of the total investment portfolio as of December 31, 2024, and are directly exposed to losses from default and foreclosure[111]. - The company’s investments in residential loans are subject to increased risks of loss, as these loans are generally not guaranteed by the federal government or any GSE[106]. - The evaluation of anticipated cash flows for real estate assets is highly subjective and may differ materially from actual results in future periods[135]. - Valuations of assets may fluctuate and are subject to inherent uncertainty, which could materially affect the company's financial condition[152]. Cybersecurity and Operational Risks - Cybersecurity and data security breaches could materially adversely impact the company's business and financial results[157]. - The company has enhanced its cybersecurity systems, but vulnerabilities remain due to evolving techniques used by cybercriminals[159]. - Operational disruptions due to system failures could adversely affect the company's financial condition and ability to distribute to stockholders[162]. - The company relies on adequate capital and financing sources, which may be limited due to market volatility, impacting operations and asset acquisitions[166]. Financial Performance and Impairment - The company recognized net impairment losses of approximately $48.9 million and $89.5 million for the years ended December 31, 2024 and 2023, respectively[136]. - The company recorded losses on reclassification of disposal group of approximately $14.6 million and $16.2 million for the years ended December 31, 2024 and 2023, respectively[136]. - Impairment charges have a direct adverse impact on the company's net income and financial condition, affecting cash available for distribution to stockholders[136]. - The performance of the company's assets is adversely affected by changes in prepayment rates, which are difficult to predict[118]. - The company may experience increased volatility in financial results due to reliance on third-party service providers for loan servicing and compliance[124].