New York Mortgage Trust ( (NYMT) ) has released its Q3 earnings. Here is a breakdown of the information New York Mortgage Trust presented to its investors.
New York Mortgage Trust, Inc. is a real estate investment trust (REIT) that primarily focuses on acquiring, investing in, financing, and managing mortgage-related residential assets, including single-family and multi-family properties.
In its third quarter of 2024 earnings report, New York Mortgage Trust reported a net income of $32.4 million attributable to common stockholders, translating to a basic earnings per share of $0.36. The company achieved an economic return on book value of 3.51% and declared dividends of $0.20 per common share.
Key financial highlights include a net interest income of $20.2 million with a net interest spread of 1.32%. Notable strategic developments included the sale of multi-family properties, generating significant gains for the company, and the purchase of Agency RMBS and residential loans totaling nearly $1 billion.
Looking forward, New York Mortgage Trust aims to strategically utilize its liquidity to enhance portfolio growth and earnings. The management remains focused on stable income-generating investments, with no corporate debt maturity expected until 2026, indicating a cautious yet optimistic outlook for future earnings growth.
