Core Viewpoint - New York Mortgage Trust (NYMT) reported quarterly earnings of $0.39 per share, significantly exceeding the Zacks Consensus Estimate of $0.06 per share, marking an earnings surprise of 550% compared to a loss of $0.25 per share in the previous quarter [1][2]. Financial Performance - The company posted revenues of $20.24 million for the quarter ended September 2024, which was 8.43% below the Zacks Consensus Estimate, and an increase from $16.79 million year-over-year [2]. - Over the last four quarters, NYMT has surpassed consensus EPS estimates only once [2]. Stock Performance - NYMT shares have declined approximately 36.2% since the beginning of the year, contrasting with the S&P 500's gain of 22.3% [3]. - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6]. Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.08 on revenues of $23.48 million, while for the current fiscal year, the estimate is -$0.78 on revenues of $82.51 million [7]. - The trend of estimate revisions for NYMT is mixed, which may change following the recent earnings report [6]. Industry Context - The REIT and Equity Trust industry, to which NYMT belongs, is currently ranked in the top 38% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8].

Financial Performance - Net income attributable to common stockholders for Q3 2024 was $32,410,000, with earnings per share of $0.36[2] - Net income attributable to the company's common stockholders was $32,410 thousand in 2024, compared to a loss of $94,819 thousand in 2023[23] - Basic earnings per common share improved to $0.36 in 2024 from a loss of $1.04 in 2023[23] - Net income attributable to the Company for Q3 2024 was $42,849, compared to a net loss of $15,589 in Q2 2024[24] Income and Expenses - Total income from real estate decreased to $106,446 thousand in 2024, down 17.4% from $128,913 thousand in 2023[23] - The net loss from real estate was $36,968 thousand in 2024, compared to a loss of $24,494 thousand in 2023, reflecting a deterioration in performance[23] - Total other income for 2024 was $52,875 thousand, a turnaround from a loss of $85,943 thousand in 2023[23] - General and administrative expenses increased slightly to $36,643 thousand in 2024 from $37,824 thousand in 2023[23] Interest Income and Net Interest Income - Total Adjusted Net Interest Income increased by 39% year-over-year to $29 million[8] - Net interest income for 2024 was $57,144 thousand, an increase of 14.9% compared to $49,726 thousand in 2023[23] - Interest income for Q3 2024 was $108,361, an increase of 20.0% from $90,775 in Q2 2024[24] - Total net interest income for Q3 2024 was $20,237, up 6.3% from $19,044 in Q2 2024[24] Assets and Liabilities - As of September 30, 2024, total assets increased to $8,905,914 thousand from $7,401,328 thousand as of December 31, 2023, representing a growth of approximately 20.3%[20] - Total liabilities increased to $7,433,952 thousand from $5,773,202 thousand, marking an increase of around 29%[21] - Cash and cash equivalents increased to $195,066 thousand from $187,107 thousand, showing a growth of about 4.7%[20] Book Value and Equity - Book value per common share at the end of the period was $9.83, with an adjusted book value of $10.87[2] - The company's stockholders' equity decreased to $1,444,147 thousand from $1,579,612 thousand, a decline of approximately 8.5%[22] - The adjusted book value as of September 30, 2024, is $984,363,000, down from $1,147,533,000 on December 31, 2023, indicating a decrease of about 14.2%[43] Strategic Initiatives - The company plans to unlock excess liquidity for continued portfolio growth, with no corporate debt maturity until 2026[9] - The company plans to file its Quarterly Report on Form 10-Q with the SEC on or about November 1, 2024, which will include detailed financial and operating data for Q3 2024[14] - The company is internally managed and focuses on acquiring, investing in, financing, and managing primarily mortgage-related assets[15] Joint Ventures and Investments - A joint venture sold a multi-family apartment community for approximately $56.4 million, resulting in a net gain of $8.7 million[3] - The company has classified certain joint venture equity investments as held for sale as of September 30, 2024, indicating a strategic repositioning of its business[45] - The company owns joint venture equity investments in multi-family properties, consolidating the assets, liabilities, income, and expenses of the VIEs where it is the primary beneficiary[44]

NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) ("NYMT," the "Company," "we," "our" or "us") today reported results for the three and nine months ended September 30, 2024. Summary of Third Quarter 2024: (dollar amounts in thousands, except per share data) | --- | --- | --- | |--------------------------------------------------------------------------------------|-------------|-------| | | | | | | | | | Net income attributable to Company's common stockholders | $ 32,41 ...

NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the "Company") is scheduled to report financial results for the three and nine months ended September 30, 2024 after the close of market on October 30, 2024. New York Mortgage Trust's executive management will host a conference call and audio webcast at 9:00 a.m., Eastern Time, on Thursday, October 31, 2024. To access the conference call, please pre-register using this link. Registrants will receive confirmation with d ...

NEW YORK, Sept. 19, 2024 (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 September 30, 2024. The dividend will be payable on October 28, 2024 to common stockholders of record as of the close of business on September 30, 2024. In addition, the Board declared cash dividends on the Company's 8.000% Series D ...

J Studios Introduction Seeking Alpha asked me to update my feelings about the New York Mortgage Trust (NYMT) preferred stocks, as my prior article was last January when the FOMC was putting rate cuts on hold. With most predictions saying a cut in September is almost certain and a second possible before 2025, then now would be a good time to lock in today's potential cycle peak in YOCs. This article updates the NYMT financials and will compare all four available preferreds: New York Mortgage Trust, Inc. 6.87 ...

New York Mortgage Trust (NYMT) came out with a quarterly loss of $0.25 per share versus the Zacks Consensus Estimate of $0.05. This compares to loss of $0.33 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -600%. A quarter ago, it was expected that this real estate investment trust would post earnings of $0.12 per share when it actually produced a loss of $0.30, delivering a surprise of -350%. Over the last four quarters, the ...

NEW YORK, July 22, 2024 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the "Company") is scheduled to report financial results for the three and six months ended June 30, 2024 after the close of market on July 31, 2024. New York Mortgage Trust's executive management will host a conference call and audio webcast at 9:00 a.m., Eastern Time, on Thursday, August 1, 2024. To access the conference call, please pre-register using this link. Registrants will receive confirmation with dial-in deta ...

Stockernumber2 Company Overview From a GAAP perspective, the $1.5 billion stockholders' equity (which includes both common and preferred shares) is levered 4.96 times, while the recourse levenge ratio stands at 1.6, consisting primarily from mark-to-market, or MTM, facilities: Recourse leverage overview (New York Mortgage Trust Q1 2024 Investor Presentation) | --- | --- | --- | --- | --- | --- | --- | |--------|---------|---------|---------|---------|---------|--------| | | | | | | | | | | | | | | | | | (77 ...

Core Viewpoint - New York Mortgage Trust, Inc. announced a public offering of $60 million in senior notes with a 9.125% interest rate due in 2029, with a potential additional $9 million for overallotments [1] Group 1: Offering Details - The offering is expected to close on June 28, 2024, pending customary closing conditions [1] - The notes will be senior unsecured obligations of the company, paying interest quarterly starting October 1, 2024, and maturing on July 1, 2029 [10] - The company has applied to list the notes on the Nasdaq Global Select Market under the symbol "NYMTI" [5] Group 2: Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes, including acquiring targeted assets such as single-family and multi-family residential assets [14] Group 3: Underwriters - The offering is managed by a consortium of financial institutions including Morgan Stanley, RBC Capital Markets, UBS Securities, Wells Fargo Securities, Keefe, Bruyette & Woods, and Piper Sandler [2]