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].

Financial Data and Key Metrics Changes - The company reported an undepreciated loss per share of $0.44 in Q4, compared to an undepreciated earnings per share of $0.39 in Q3 [19] - Adjusted net interest income EPS contribution increased to $0.36 per share in Q4, up from $0.32 in Q3 and $0.26 a year ago, representing a 12.5% increase quarter-over-quarter and a 38% increase year-over-year [19] - GAAP book value decreased by 5.6% during the quarter, while adjusted book value per share ended at $10.35, down 4.8% from Q3 [24] Business Line Data and Key Metrics Changes - The portfolio grew by 44% year-over-year, driven by $4.1 billion in acquisitions, primarily in liquid agency bonds and higher spread bridge loans [10] - The company recognized net unrealized losses of $131.6 million due to lower asset prices, primarily in the agency RMBS portfolio and residential loan book [21] - The company disposed of five multifamily real estate assets, resulting in net gains of $4.9 million, which will reduce the negative earnings drag from these properties [22] Market Data and Key Metrics Changes - The agency RMBS portfolio is valued at $3.1 billion, representing 42% of the asset portfolio and 23% of net equity [31] - Current coupon mortgage spreads widened by six basis points to 135 basis points, with spreads peaking at 154 basis points before normalizing [32] - The bridge securitization market saw deal issuance grow from $3 billion in 2023 to $8 billion in 2024, indicating strong market momentum [35] Company Strategy and Development Direction - The company aims to focus on sustainable recurring income through strategic deployment of excess liquidity, with a goal to optimize returns in 2025 [10][14] - The strategy includes prioritizing positive carry profiles across low payout spec pools and expanding into BPO rental strategy [33][38] - The company plans to maintain a competitive current yield for shareholders with a consistent dividend of $0.20 per common share [26] Management's Comments on Operating Environment and Future Outlook - Management noted that the market shows signs of resiliency with strong fundamentals, despite elevated mortgage rates keeping housing demand in check [9] - The company expects to see significant value upside to current market capitalization levels, especially considering a 13% plus dividend yield [16] - Management expressed optimism about the potential for increased portfolio flexibility and recurring earnings improvement in 2025 [14] Other Important Information - The company issued six securitizations in 2024 and began 2025 with a detailed bridge securitization [12] - The company has excess liquidity totaling $343 million at the end of the year, which will be strategically deployed [13] Q&A Session Summary Question: Normalized earnings and ROE outlook - Management indicated that growth in earnings for 2024 supports alignment with the current dividend, with adjusted interest income increasing significantly [46] Question: Excess liquidity characterization - Management stated that excess liquidity will be rotated into both the agency market and residential credit, aligning with the outlook for the US housing market [48] Question: G&A and portfolio expense outlook - Management anticipates opportunities for G&A cost reduction as capital deployment continues, with a run rate of $11 to $11.5 million per quarter expected [55][56] Question: Update on book value performance - Management noted that adjusted book value is up between 1% to 2% as of the first quarter [59] Question: Update on remaining multifamily assets - Management provided details on the four remaining JV equity assets, with two in Florida for sale and two in Texas showing improved occupancy rates [64][66] Question: Prepayment speeds outlook - Management expects robust prepayment speeds in the RPL portfolio, regardless of rate outlook, due to the nature of the projects [75] Question: Opportunities to call and relever securitized debt - Management confirmed that several deals are callable and that this strategy will be employed on a deal-by-deal basis [78]

New York Mortgage Trust (NYMT) came out with a quarterly loss of $0.44 per share versus the Zacks Consensus Estimate of $0.08. This compares to loss of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -650%. A quarter ago, it was expected that this real estate investment trust would post earnings of $0.06 per share when it actually produced earnings of $0.39, delivering a surprise of 550%.Over the last four quarters, the ...

New York Mortgage Trust Reports Fourth Quarter and Full Year 2024 Results NEW YORK, February 19, 2025 (GLOBE NEWSWIRE) - New York Mortgage Trust, Inc. (Nasdaq: NYMT) ("NYMT," the "Company," "we," "our" or "us") today reported results for the three months and year ended December 31, 2024, respectively. Summary of Fourth Quarter and Full Year 2024: (dollar amounts in thousands, except per share data) | | | For the Three Months Ended | | | | --- | --- | --- | --- | --- | | | | December 31, | | For the Year End ...

Core Viewpoint - New York Mortgage Trust, Inc. reported significant net losses for the fourth quarter and full year of 2024, with a strategic focus on expanding its portfolio and enhancing recurring income through investments in residential loans and agency RMBS. Financial Performance - For the three months ended December 31, 2024, the net loss attributable to common stockholders was $41.8 million, or $0.46 per share, compared to a net loss of $103.8 million, or $1.14 per share for the full year 2024 [2][35] - The company reported an interest income of $118.3 million for the fourth quarter and $401.3 million for the full year, with interest expenses of $91.5 million and $317.4 million respectively [2][35] - The net interest income for the fourth quarter was $26.7 million, up from $16.8 million in the same quarter of the previous year [35] Investment Activities - In Q4 2024, the company purchased approximately $362.8 million of Agency RMBS and $542.3 million of residential loans [5] - For the full year 2024, the company acquired about $2.2 billion in investment securities, including $1.5 billion of Agency RMBS and $1.9 billion of residential loans [11] Capital Structure and Financing - The company completed a securitization of residential loans, resulting in approximately $292.9 million in net proceeds, which were partially used to repay $271.6 million on outstanding repurchase agreements [6] - As of December 31, 2024, total assets were reported at $9.2 billion, with total liabilities of $7.8 billion [32] Management Strategy - The CEO highlighted a strategic focus on deploying excess liquidity to expand the balance sheet, resulting in a portfolio growth of $2.2 billion, or 44% year-over-year [10] - The adjusted interest income rose by 11% in Q4 2024, contributing to year-over-year growth [10] Stockholder Returns - The company declared dividends of $0.20 per common share for Q4 2024, totaling $0.80 for the full year [2] - The Board of Directors approved extensions of the common stock repurchase program, with $189.7 million remaining available for repurchase [11]

Core Viewpoint - New York Mortgage Trust, Inc. (NYMT) has announced the tax treatment of its common and preferred stock dividends declared in 2024, providing essential information for stockholders regarding their tax reporting requirements related to dividend distributions [1][2]. Dividend Distribution Summary - The total dividend distribution per share of common stock for 2024 is $1.00, with $0.80 classified as ordinary dividends and $0.20 as adjustments [4]. - The dividend distributions for the 8.000% Series D Preferred Stock total $2.00 per share, all classified as non-dividend distributions [6]. - The 7.875% Series E Preferred Stock has a total distribution of $1.96875 per share, also classified as non-dividend distributions [7]. - The 6.875% Series F Preferred Stock has a total distribution of $1.71875 per share, classified as non-dividend distributions [7]. - The 7.000% Series G Preferred Stock has a total distribution of $1.75000 per share, classified as non-dividend distributions [7]. Tax Treatment Details - No portion of the 2024 dividend distributions is expected to consist of excess inclusion income, which is relevant for certain tax-exempt investors [3]. - Distributions made on January 23, 2025, are treated as received by stockholders on December 31, 2024, due to the aggregate cash distributions exceeding 2024 earnings and profits [5]. - Stockholders are advised to consult their tax advisors regarding the specific tax treatment of the Company's dividend distributions [2][8]. 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 [9].