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New York Mortgage Trust Announces Preliminary Estimates Of Select Financial Data For First Quarter 2013

Stocks in this article: NYMT

NEW YORK, April 29, 2013 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT" or the "Company") today announced preliminary estimates of select financial data for the 2013 first quarter and as of March 31, 2013.

For the quarter ended March 31, 2013, the Company estimates that, when finally determined, its GAAP net income per common share will be in the range of $0.28 to $0.31, which includes, on a per share basis, approximately $0.12 to $0.15 of unrealized gain on multi-family loans and debt held in securitization trusts, net. The Company further estimates that, when finally determined, its GAAP net income per common share for the quarter ended March 31, 2013 will include approximately $0.05 to $0.06 of unrealized gain on investment securities and related hedges, net, which will be offset by approximately $0.06 to $0.07 of realized loss on investment securities and related hedges, net. 

In addition, the Company estimates that, when finally determined, its net book value per common share as of March 31, 2013 will be in the range of $6.53 to $6.56. The Company further estimates that, when finally determined, the constant prepayment rate on its overall investment portfolio will be 12.9% for the quarter ended March 31, 2013, as compared to 12.5% for the quarter ended December 31, 2012. Furthermore, as of March 31, 2013, the Company estimates that, when finally determined, its overall leverage ratio, including both its short- and longer-term financing (but excluding the collateralized debt obligations issued by the "Consolidated K-Series" and its residential collateralized debt obligations) divided by its common stockholders' equity, was approximately 3.2 to 1. The Company estimates that, when finally determined, the leverage ratio on its short term financings or callable debt was approximately 2.7 to 1 as of March 31, 2013. For the quarter ended March 31, 2013, the Company had approximately 49,611,000 weighted average common shares outstanding.

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