NEW YORK, May 6, 2014 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT," the "Company," "we," "our" or "us") today reported results for the three months ended March 31, 2014.
Summary of First Quarter 2014:
- Net income attributable to common stockholders of $21.3 million, or $0.29 per share, for the quarter as compared to $15.4 million, or $0.31 per share, for the quarter ended March 31, 2013.
- Net interest income rose to $19.8 million for the quarter, an increase of $6.8 million from the same period in the prior year and $1.7 million from the previous quarter.
- Portfolio net interest margin increased to 439 basis points from 410 basis points the previous quarter.
- Book value per common share of $6.48 at March 31, 2014 as compared to $6.33 per common share at December 31, 2013.
- Generated $8.2 million of realized gain from sales and refinancing of distressed residential mortgage loans.
- Completed public offering of 11,500,000 shares of common stock, resulting in net proceeds to the Company of approximately $75.8 million after deducting offering expenses.
- Declared first quarter dividend of $0.27 per common share that was paid on April 25, 2014.
- Completed public offering of 14,950,000 shares of common stock in April 2014 resulting in net proceeds to the Company of approximately $109.9 million, after deducting estimated offering expenses.