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 InvestmentThe 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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV