New York Mortgage Trust Inc (NYMT) Q3 2024 Earnings Call Highlights: Strategic Growth and ...

GuruFocus.com2024-11-01

Earnings Per Share (EPS): $0.36 for the third quarter. Undepreciated Earnings Per Share: $0.39 in the third quarter, compared to a loss of $0.25 in the second quarter. Adjusted Interest Income: Over $...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNew York Mortgage Trust Inc (NYMT) Q3 2024 Earnings Call Highlights: Strategic Growth and ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-01 15:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/york-mortgage-trust-inc-nymt-070949948.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Earnings Per Share (EPS): $0.36 for the third quarter.\nUndepreciated Earnings Per Share: $0.39 in the third quarter, compared to a loss of $0.25 in the second quarter.\nAdjusted Interest Income: Over $...</p>\n\n<a href=\"https://finance.yahoo.com/news/york-mortgage-trust-inc-nymt-070949948.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NYMT","symbol_name":"纽约抵押信托","start_time":0,"source_url":"https://finance.yahoo.com/news/york-mortgage-trust-inc-nymt-070949948.html","article_id":"2480383022","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480383022","pubTimestamp":1730444989,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Earnings Per Share : $0.36 for the third quarter.Undepreciated Earnings Per Share: $0.39 in the third quarter, compared to a loss of $0.25 in the second quarter.Adjusted Interest Income: Over $100 million in the third quarter, a 39% year-to-date increase.Net Interest Income: Increased to $0.22 per share in the current quarter from $0.21 in the second quarter.Portfolio Growth: Increased by $1 billion or 17% from the last quarter.Liquidity: $408 million at the end of the third quarter, $6 million more than the first quarter.Book Value Per Share: $10.87, down $1.4 from the second quarter.Dividend: $0.20 per common share, unchanged from the prior quarter.Recourse Leverage Ratio: Increased to 2.6 times from 2.1 times as of June 30.Residential Loan and Bond Portfolios: Contributed $1.07 per share of unrealized gains.Multifamily Real Estate Dispositions: Six assets disposed, net proceeds of approximately $34.7 million, and $13.6 million of net gains.Debt Issuance Expenses: $2.4 million relate","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"NYMT":"纽约抵押信托","NYMTO":"New York Mortgage Trust, Inc.","NYMTN":"纽约抵押信托D类优先","NYMTL":"New York Mortgage Trust Inc","NYMTM":"New York Mortgage Trust, Inc."},"translate_title":"纽约抵押贷款信托公司(NYMT)2024年第三季度收益看涨期权亮点：战略增长和...","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NYMT":1,"NYMTO":1,"NYMTL":0.9,"NYMTM":0.9,"NYMTN":0.9},"content_text":"Earnings Per Share (EPS): $0.36 for the third quarter.\nUndepreciated Earnings Per Share: $0.39 in the third quarter, compared to a loss of $0.25 in the second quarter.\nAdjusted Interest Income: Over $100 million in the third quarter, a 39% year-to-date increase.\nNet Interest Income: Increased to $0.22 per share in the current quarter from $0.21 in the second quarter.\nPortfolio Growth: Increased by $1 billion or 17% from the last quarter.\nLiquidity: $408 million at the end of the third quarter, $6 million more than the first quarter.\nBook Value Per Share: $10.87, down $1.4 from the second quarter.\nDividend: $0.20 per common share, unchanged from the prior quarter.\nRecourse Leverage Ratio: Increased to 2.6 times from 2.1 times as of June 30.\nResidential Loan and Bond Portfolios: Contributed $1.07 per share of unrealized gains.\nMultifamily Real Estate Dispositions: Six assets disposed, net proceeds of approximately $34.7 million, and $13.6 million of net gains.\nDebt Issuance Expenses: $2.4 million related to two securitization deals.\nAgency RMBS Portfolio: Almost $3 billion, constituting 42% of the asset portfolio.\n\n\nWarning! GuruFocus has detected 3 Warning Sign with NYMT.\n\nRelease Date: October 31, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nNew York Mortgage Trust Inc (NASDAQ:NYMT) reported a significant increase in earnings per share to $0.36 for the third quarter, driven by a strategic shift towards interest income.\nThe company successfully increased its portfolio by $1 billion or 17% from the previous quarter, demonstrating strong growth.\nNYMT maintained strong liquidity with $408 million at the end of the third quarter, providing flexibility for future investments.\nThe company achieved a 39% year-to-date increase in adjusted interest income, reflecting effective capital deployment.\nNYMT completed six securitizations in 2024, marking its most active year in issuance and contributing to stable liquidity management.\n\n Negative Points \n\nThe company expressed concerns about high US debt levels potentially impacting private market trades.\nDespite portfolio growth, NYMT admitted to being underinvested earlier in the year, which affected earnings potential.\nThe company experienced a 1% to 2% decline in adjusted book value quarter-to-date, indicating some volatility.\nNYMT's net loss from real estate was $7.5 million during the quarter, although this was an improvement from the previous quarter.\nThe company's recourse leverage ratio increased to 2.6 times, reflecting higher financing of investment securities.\n\n Q & A Highlights \nQ: In terms of your book value now, you noted that the JV piece is now pretty small. Do you feel like your book value is largely bottomed, or is there still something in the multifamily piece to watch? A: Jason Serrano, CEO: The book value volatility stemmed from our JV Equity book, which now has $19 million remaining. We have near-term visibility into resolutions for most of these assets, and the remaining value is about $1.4 million. We believe the volatility will decrease as this portfolio winds down.\nQ: Can we get an update on book value quarter to date? Any changes? A: Nicholas Mah, President: As of this week, we see adjusted book value down somewhere between 1% to 2%.\nQ: Could you give us a high-level take on where you see gross ROE by strategy, specifically on the agency side and the BPL side? A: Nicholas Mah, President: For the BPL bridge side, we see 20%-plus gross ROEs on a leveraged basis. On the agency side, due to volatility, ROEs are in the mid-teens. For the BPL rental strategy, we see mid to high teens ROEs.\nQ: Given the volatility in the agency side, are we at the higher end of the range? Have you shifted capital allocation into that? A: Nicholas Mah, President: We are market-driven on the agency strategy. While the trend line will be higher, we don't need to grow the portfolio in one quarter. With wider spreads, we expect to be more active in the agency space.\nQ: How has the increase in rate volatility impacted CRE and multifamily deal activity? A: Jason Serrano, CEO: Deal activity has slowed, particularly with the recent rate moves. Many properties have come off the market, and purchases have been delayed. We expect robust activity to resume in January and February after a slowdown in the last two months of this year.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480383022"}