NEW YORK, March 4, 2014 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT," the "Company," "we," "our" or "us") today reported results for the three and twelve months ended December 31, 2013.
Summary of Fourth Quarter 2013:
- Net income attributable to common stockholders of $21.8 million, or $0.34 per share, for the quarter as compared to $9.4 million, or $0.19 per share, for the quarter ended December 31, 2012.
- Net interest income rose to $18.2 million for the quarter, an increase of $6.9 million over the quarter ended December 31, 2012 and $2.7 million over the quarter ended September 30, 2013.
- Portfolio net interest margin increased to 410 basis points from 359 basis points the previous quarter.
- Book value per common share of $6.33 at December 31, 2013 as compared to $6.32 per common share at September 30, 2013.
- Invested $30.4 million in first loss PO security issued by a Freddie Mac-sponsored multi-family K-Series securitization.
- Declared fourth quarter dividend of $0.27 per common share that was paid on January 27, 2014.
Highlights for Full Year 2013:
- Net income attributable to common stockholders of $65.4 million, or $1.11 per share, for the year ended December 31, 2013 as compared to $28.3 million, or $1.08 per share, for the year ended December 31, 2012.
- Net interest income rose to $60.5 million for the year ended December 31, 2013.
- Received net proceeds of approximately $100.2 million through common stock offering and at-the-market program and $72.4 million through preferred stock offering.
- Invested an aggregate of approximately $94.9 million in multi-family CMBS, first mortgage loan, mezzanine loan and preferred equity investments, and $218.2 million in distressed residential mortgage loans.
- Financed a portion of 2013 investments in credit sensitive assets through three securitizations of distressed residential mortgage loans for an aggregate of $136.6 million and one multi-family CMBS-backed three year privately placed term repo for approximately $55.1 million.
- Declared aggregate 2013 dividends of $1.08 per common share.
- Completed public offering of 11,500,000 shares of common stock (including 1,500,000 shares issuable pursuant to an additional-allotment option to the underwriters) in January 2014, resulting in net proceeds to the Company of approximately $75.8 million, after deducting estimated offering expenses.
- Sold a pool of distressed residential mortgage loans with a carrying value of approximately $29.4 million for aggregate proceeds of approximately $36.9 million in January 2014, resulting in a net realized gain, before income taxes to the Company of approximately $7.5 million.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV