New York Mortgage Trust(NYMT) - 2025 Q3 - Quarterly Results

Financial Performance - Net income attributable to common stockholders for Q3 2025 was $32,702,000, with earnings per share of $0.36[3] - For the three months ended September 30, 2025, total net interest income was $36,586,000, with a net loss from real estate of $(3,878,000)[13] - Net income attributable to the Company's common stockholders for the three months ended September 30, 2025, was $32,702,000, while for the nine months it was $59,501,000[13] - The company reported a net loss attributable to non-controlling interests of $5,035,000 for the three months and $14,231,000 for the nine months ended September 30, 2025[13] - The company reported a net income attributable to common stockholders of $32,702 thousand for the three months ended September 30, 2025, compared to $32,410 thousand for the same period in 2024, a slight increase of 0.9%[26] - GAAP net income attributable to common stockholders for the three months ended September 30, 2025, was $32,702,000, compared to a loss of $3,486,000 in the previous quarter[42] Interest Income and Expenses - Interest income for the quarter reached $160,633,000, while interest expense was $124,047,000, resulting in net interest income of $36,586,000[3] - Interest income rose to $160,633 thousand for the three months ended September 30, 2025, compared to $108,361 thousand in the same period of 2024, marking a 48.3% increase[26] - Interest income for the three months ended September 30, 2025, was $160,633,000, an increase of 14% from $140,901,000 in the previous quarter[28] - The yield on average interest earning assets was 6.33%, with a net interest spread of 1.50%[3][10] - Total net interest income for the same period was $36,586,000, compared to $36,447,000 in the previous quarter, reflecting a slight increase[28] Dividends and Shareholder Returns - The quarterly dividend was increased to $0.23 per common share, marking a significant increase in shareholder returns[6] - Dividends declared per common share were $0.23, up from $0.20 in the previous quarter[28] Assets and Liabilities - The company’s total investments amounted to $10,518,504,000 as of September 30, 2025[8] - Total assets increased to $12,401,862 thousand as of September 30, 2025, up from $9,217,282 thousand as of December 31, 2024, representing a growth of 34.5%[24] - Total liabilities increased to $10,997,084 thousand as of September 30, 2025, up from $7,806,148 thousand as of December 31, 2024, reflecting a growth of 40.0%[24] - Total liabilities as of September 30, 2025, were $373,388,000, including mortgages payable on real estate of $362,747,000[52] Operational Highlights - The company executed a strategic repositioning by disposing of certain joint venture equity investments and acquiring assets to expand interest income levels, such as Agency RMBS and business purpose loans[38] - The company exited remaining joint venture equity investments at a carrying value of approximately $17 million[4] - The company has repositioned its business by classifying certain joint venture equity investments as held for sale as of September 30, 2025[50] Expenses - Total general, administrative, and operating expenses for the three months ended September 30, 2025, were $41,825,000, and for the nine months, they were $86,817,000[13] - General and administrative expenses increased to $23,349 thousand for the three months ended September 30, 2025, compared to $11,941 thousand for the same period in 2024, a rise of 95.5%[26] Future Outlook - Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projections[19] - The conference call to discuss these financial results is scheduled for October 30, 2025, at 9:00 a.m. Eastern Time[14] - A supplemental financial presentation will accompany the conference call and will be available on the Company's website[15] Earnings Available for Distribution - Earnings Available for Distribution (EAD) is now presented as a supplemental non-GAAP financial measure, replacing the previously used undepreciated earnings measure[37] - EAD provides a clearer indication of the current income-generating capacity of the company's operations, excluding certain non-recurring and non-cash items[39] - Earnings available for distribution (EAD) attributable to common stockholders increased to $21,991,000 for the three months ended September 30, 2025, from $20,024,000 in the previous quarter[42]