This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

New York Mortgage Trust Reports Fourth Quarter And Full Year 2010 Results

Stocks in this article: NYMT

NEW YORK, N.Y., March 1, 2011 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT" or the "Company") today reported results for the three and twelve months ended December 31, 2010.

Summary of Fourth Quarter and Full Year 2010:

  • Fourth quarter 2010 earnings per common share of $0.11 as compared to $0.45 per common share for the fourth quarter of 2009.
  • Full year 2010 earnings per common share of $0.72 as compared to $1.25 per common share for full year 2009.
  • Fourth quarter 2010 net income of $1.0 million as compared to net income of $4.2 million for the fourth quarter of 2009.
  • Consolidated net income of $6.8 million for full year 2010 as compared to $11.7 million for full year 2009.
  • Declared fourth quarter dividend of $0.18 per common share that was paid on January 25, 2011 and declared total dividends of $0.79 per common share during the year ended December 31, 2010.
  • Book value per common share increased to $7.27 as of December 31, 2010, as compared to $6.69 per common share as of December 31, 2009.
  • Fourth quarter 2010 portfolio margin was 353 basis points as compared to 363 basis points for the third quarter of 2010; full year 2010 portfolio margin of 376 basis points as compared to full year 2009 average portfolio margin of 351 basis points.
  • Fourth quarter 2010 includes charges of $0.5 million in provision for loan losses and a $0.3 million impairment loss on investments related to our investment in New Bridger Holdings LLC.

First Quarter 2011 Investment

The Company invested $24 million on February 28, 2011 in our Midway Residential Mortgage Portfolio which is externally managed by The Midway Group, L.P. and focuses on achieving long-term capital appreciation on our investments across various market cycles, primarily through investments in a hedged portfolio of mortgage-related securities, contract rights and derivatives.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs