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New York Mortgage Trust Reports Fourth Quarter And Full Year 2012 Results

NEW YORK, March 5, 2013 (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, 2012.

Summary of Fourth Quarter and Full Year 2012:

  • Net income attributable to common stockholders of $9.4 million for the quarter ended December 31, 2012, representing net income per weighted average share of $0.19, and net income attributable to common stockholders of $28.3 million for the year ended December 31, 2012, representing net income per weighted average share of $1.08.  
  • The Company completed its fourth public stock offering receiving net proceeds of $104.1 million in October 2012, bringing total net proceeds received during the year to $231.6 million.  
  • Completed the acquisition of $75.6 million of multi-family CMBS during the fourth quarter of 2012, resulting in the Company having a net investment of $194.5 million in multi-family CMBS, at fair value, at December 31, 2012.  
  • Completed the acquisition of $60.9 million of distressed residential mortgage loans during the fourth quarter of 2012.  
  • Completed two secured structured financing transactions during the fourth quarter of 2012, resulting in $88.7 million in net proceeds.   
  • Book value per common share of $6.50 at December 31, 2012, as compared to $6.12 per common share at December 31, 2011 and $6.52 at September 30, 2012.   
  • Fourth quarter 2012 portfolio net interest margin was 333 basis points.  
  • Declared fourth quarter dividend of $0.27 per common share that was paid on January 25, 2013. 

Company Overview    

NYMT is an internally managed real estate investment trust, or REIT, which invests in mortgage-related and financial assets. The Company currently targets multi-family CMBS, Agency RMBS, including Agency fixed-rate RMBS, Agency ARMs, and Agency IOs, and residential mortgage loans. RiverBanc, LLC, The Midway Group, L.P. and Headlands Asset Management, LLC provide investment management services to the Company with respect to certain of its targeted asset classes. For a list of defined terms used from time to time in this press release, see "Defined Terms" below.

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