NEW YORK MTG(NYMTL) - 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]. - The 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 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, reflecting a slight increase of 0.9%[26]. - Net income attributable to the Company was $44,820,000 for the quarter, up from $8,546,000 in the previous quarter[28]. - GAAP net income attributable to common stockholders for the three months ended September 30, 2025, was $32,702 thousand, compared to a loss of $(3,486) thousand for 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, up 48.3% from $108,361 thousand in the prior year[26]. - Interest income for the three months ended September 30, 2025, was $160,633,000, an increase 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]. - The yield on average interest-earning assets was 6.33%, down from 6.48% in the previous quarter[28]. - Total net interest income for the same period was $36,586,000, compared to $36,447,000 in the prior quarter, reflecting a slight increase[28]. - Adjusted net interest income for the quarter was $42,752,000, compared to $36,586,000 in the previous quarter[34]. - For the three months ended September 30, 2025, the total net interest income was $36,586,000, with a net loss from real estate of $(3,878,000)[13]. 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]. - Preferred stock dividends increased to $12,118 thousand for the three months ended September 30, 2025, compared to $10,439 thousand in the same period of 2024, reflecting a rise of 16.1%[26]. Assets and Liabilities - 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, compared to $7,806,148 thousand as of December 31, 2024, marking a rise of 40.5%[24]. - Total investments as of September 30, 2025, amounted to $10,518,504,000, with liabilities of $6,511,835,000[8]. - Total liabilities as of September 30, 2025, were $373,388 thousand, including mortgages payable on real estate of $362,747 thousand[52]. Operational Insights - The company focuses on generating durable earnings and long-term value through disciplined portfolio management[16]. - The company is internally managed and strategically deploys capital across complementary businesses[16]. - 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 recorded cumulative depreciation expense on real estate of $26,357 thousand as of September 30, 2025[48]. - The company has joint venture equity investments in multi-family properties, which are consolidated in the financial statements[49]. Conference Call and Future Outlook - The Company will host a conference call on October 30, 2025, to discuss financial results and provide further insights[14]. - A supplemental financial presentation will accompany the conference call, available on the Company's website[15]. - Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projections[19]. Earnings Available for Distribution (EAD) - 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 business operations compared to the previous undepreciated earnings measure[38]. - EAD is defined as GAAP net income excluding various non-recurring and non-cash items, providing additional transparency into operating performance[39]. - The Board of Directors considers EAD among other factors when determining dividends on common stock, but it should not be viewed as a guarantee of dividend payments[41]. - The company emphasizes that EAD should not be considered a substitute for GAAP net income or as an indication of REIT taxable income[40]. - Earnings available for distribution (EAD) attributable to common stockholders was $21,991 thousand for the three months ended September 30, 2025, an increase from $20,024 thousand in the previous quarter[42].