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Sep 30, 2021
NYMT Q3 2021 Earnings Report
Reported solid results, generating GAAP earnings per share of $0.10 and comprehensive earnings per share of $0.08.
Key Takeaways
New York Mortgage Trust reported a net income attributable to common stockholders of $36.861 million, or $0.10 per share, for the third quarter of 2021. The results were impacted by nonrecurring charges, including expenses related to the early redemption of Series C preferred stock and the acceleration of deferred debt issuance costs.
Purchased approximately $370.7 million in residential loans and $28.8 million in non-Agency RMBS.
Funded multi-family preferred equity investments in the amount of approximately $42.6 million and multi-family joint venture investments for approximately $53.1 million.
Sold residential loans for proceeds of approximately $49.5 million, non-Agency RMBS for proceeds of approximately $43.6 million and CMBS for proceeds of approximately $89.5 million.
Issued 5,750,000 shares of 6.875% Series F Fixed-to-Floating-Rate Cumulative Redeemable Preferred Stock for total net proceeds to the Company of approximately $138.6 million.
Forward Guidance
The Company expects to continue to reduce the Company’s cost of funds with subsequent structured transactions, which will have a positive impact on earnings going forward.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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