New York Mortgage Trust Reports Fourth Quarter and Full Year 2024 Results

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]