Loading...
•
Jun 30, 2024
NYMT Q2 2024 Earnings Report
Reported a net loss attributable to Company's common stockholders of $26.03 million and adjusted interest income of $84.02 million.
Key Takeaways
New York Mortgage Trust reported a net loss attributable to common stockholders of $26.03 million for Q2 2024. However, adjusted interest income increased by 63% compared to the same period in 2023, reaching $84.02 million. The company is focused on raising current income and optimizing expenses in the second half of 2024, leveraging excess liquidity.
Net loss attributable to Company's common stockholders was $(26.03) million, or $(0.29) per share.
Adjusted Interest Income increased to $84.02 million, a 63% increase from the same period in 2023.
Purchased approximately $467.5 million of Agency RMBS with an average coupon of 6.00%.
Repurchased 587,347 shares of common stock for approximately $3.5 million at an accretive average repurchase price of $5.95 per common share.
Revenue by Segment
Forward Guidance
NYMT anticipates moderating inflation and a slowing economy, and is focusing on raising recurring income and optimizing expenses. The company seeks to maintain flexibility by remaining short duration in credit assets and liquid in Agency RMBS to capture investment opportunities.
Positive Outlook
- Anticipates moderating inflation and slowing economy.
- Focusing on raising recurring income.
- Optimizing expenses over the second half of 2024.
- Maintaining flexibility by remaining short duration in credit assets.
- Remaining liquid in Agency RMBS to capture investment opportunities.
Challenges Ahead
- Market conditions are shifting.
- Potential for a distressed market environment.
- Interest rate market activity is uncertain.
- Economy is expected to slow.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...