New York Mortgage Pref Share NYMTM 7.875 Perp 01/15/25 E | 8-K: FY2025 Q1 EPS: USD 0.33

EPS: As of FY2025 Q1, the actual value is USD 0.33.

EBIT: As of FY2025 Q1, the actual value is USD 37.71 K.

Financial Results Summary

Net Income

• Net income attributable to Company’s common stockholders was $30.3 million for the first quarter of 2025.

Earnings Available for Distribution

• Earnings available for distribution attributable to Company’s common stockholders was $18,194, with EAD per share increased by 25% from the prior quarter to $0.20.

Interest Income and Expense

• Interest income for the first quarter of 2025 was $129,734, while interest expense was $96,636, resulting in net interest income of $33,098.

Yield and Spread

• Yield on average interest earning assets was 6.47%, and net interest spread was 1.32%.

Book Value

• Book value per common share at the end of the period was $9.37, reflecting a 0.97% change QoQ, and adjusted book value per common share was $10.43, reflecting a 0.77% change QoQ.

Economic Return

• Economic return on book value was 3.13%, and economic return on adjusted book value was 2.71%.

Dividends

• Dividends per common share were $0.20.

Cash Flow

• Cash, cash equivalents, and restricted cash totaled $270,472 as of March 31, 2025.
• Excess liquidity capacity was $407 million, including available cash of $173 million and additional financing of $234 million for unencumbered/under-levered assets.

Unique Metrics

• Purchased approximately $1.5 billion of Agency RMBS with an average coupon of 5.35% and $396.8 million in residential loans with an average gross coupon of 9.33%.
• Agency RMBS Holdings increased significantly, with a focus on specified pools at different coupons.
• BPL-Bridge Loan Portfolio: $1,093 million in acquisitions, with an average coupon of 10.5%.

Outlook / Guidance

• The company plans to remain active during a period of market dislocation, which is seen as an opportunity to further grow earnings throughout the year.
• NYMT aims to optimize capital and liquidity to capitalize on market dislocation and maintain low non-recourse/mark-to-market credit leverage.
• The company intends to generate additional income from its operating platform by earning fees from managing properties for external investors and pursuing third-party investment management fee opportunities.