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New York Mortgage Trust Reports Third Quarter 2013 Results

NEW YORK, Nov. 5, 2013 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT," the "Company," "we," "our" or "us") today reported results for the three and nine months ended September 30, 2013.

Summary of Third Quarter 2013:
  • Net income attributable to common stockholders of $16.9 million, or $0.27 per share, for the quarter ended September 30, 2013 as compared to $7.9 million, or $0.30 per share, for the quarter ended September 30, 2012.  
  • Net interest income rose to $15.3 million for the quarter ended September 30, 2013, an increase of $7.2 million over the quarter ended September 30, 2012 and $1.4 million over the quarter ended June 30, 2013.  
  • Portfolio net interest margin increased to 359 basis points from 348 basis points from the previous quarter.  
  • Book value per common share of $6.32 at September 30, 2013, as compared to $6.25 per common share at June 30, 2013.  
  • Acquired $72.8 million in distressed residential mortgage loans and originated $21.3 million in mezzanine, debt and equity investments during the quarter.  
  • Completed three residential structured financing transactions resulting in net proceeds of $136.6 million.  
  • Declared third quarter dividend of $0.27 per common share that was paid on October 25, 2013. 

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 and certain commercial real estate-related debt investments, residential mortgage loans, including loans sourced from distressed markets, and Agency RMBS. 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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