This Day On The Street
Continue to site
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

New York Mortgage Trust Reports Second Quarter 2013 Results

NEW YORK, Aug. 6, 2013 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT," the "Company," "we," "our" or "us") today reported results for the three and six months ended June 30, 2013.

Summary of Second Quarter 2013:
  • Net income attributable to common stockholders of $11.2 million, representing basic income per common share of $0.19 for the quarter ended June 30, 2013, as compared to net income attributable to common stockholders of $5.1 million and basic income per common share of $0.34 for the quarter ended June 30, 2012.  
  • Net interest income for the quarter ended June 30, 2013 rose to $14.0 million, an increase of $8.1 million from the same period in the prior year and an increase of $0.9 million from the quarter ended March 31, 2013.  
  • Invested $132.4 million in distressed residential mortgage loans and $41.2 million in the first loss PO security and certain IO securities issued by a Freddie Mac-sponsored multi-family K-Series securitization.  
  • Issued 13.6 million shares of common stock for net proceeds of $94.5 million and issued 3.0 million shares of 7.75% Series B Cumulative Redeemable Preferred Stock for total net proceeds of $72.4 million.  
  • Portfolio net interest margin remained constant at 348 basis points as compared to the prior quarter.  
  • Declared second quarter dividend of $0.27 per common share that was paid on July 25, 2013.   
  • Book value per common share of $6.25, as compared to $6.55 per common share at March 31, 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, certain commercial real estate-related debt investments and residential mortgage loans, including loans sourced from distressed markets. 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" on page 7.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 0.00%
FB $118.57 0.00%
GOOG $698.21 0.00%
TSLA $241.80 0.00%
YHOO $36.53 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs