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Mar 31, 2023
NYMT Q1 2023 Earnings Report
Reported results for the three months ended March 31, 2023.
Key Takeaways
New York Mortgage Trust reported a net income attributable to the company's common stockholders of $10.521 million, or $0.12 per share.
Purchased approximately $88.5 million in residential loans and approximately $106.1 million of Agency RMBS.
Funded approximately $21.9 million of Mezzanine Lending investments.
Repurchased $59.9 million par value of residential loan securitization CDOs for approximately $58.4 million.
Announced upsize of common stock repurchase program to $246.0 million and authorized preferred stock repurchase program under which the Company may repurchase up to $100.0 million of the Company’s preferred stock.
Revenue by Segment
Forward Guidance
Company expects to see more attractive entry points that will decrease the opportunity cost of holding cash and believes a patient approach to meaningful capital redeployment from our short duration portfolio will provide significant long-term value over a multiple year period.
Positive Outlook
- More attractive entry points expected to decrease the opportunity cost of holding cash.
- Patient approach to meaningful capital redeployment from our short duration portfolio will provide significant long-term value.
- Material advantages to invest with permanent capital.
- Leveraging asset management capability to unlock value.
- Expects market to enter the end stage of this growth cycle.
Challenges Ahead
- Historic fed rate increases have shifted the liquidity landscape.
- Impact on full display after long-term fixed rate asset pricing deteriorated at regional banks.
- Liquidity is being redefined as simply free cash.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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