New York Mortgage Pref Share NYMTM 7.875 Perp 01/15/25 E | 8-K: FY2025 Q2 EPS: USD -0.04

EPS: As of FY2025 Q2, the actual value is USD -0.04.

EBIT: As of FY2025 Q2, the actual value is USD 4.279 K.

Net Loss

• Net loss attributable to Company’s common stockholders: - $3,486 thousand.

Earnings Available for Distribution

• Earnings available for distribution attributable to Company’s common stockholders: $20,024 thousand.

Interest Income and Expense

• Interest income: $140,901 thousand.
• Interest expense: $104,454 thousand.
• Net interest income: $36,447 thousand.
• Net interest spread: 1.50%.

Book Value

• Book value per common share at the end of the period: $9.11, a decrease of 2.77% quarter-over-quarter.
• Adjusted book value per common share at the end of the period: $10.26, a decrease of 1.63% quarter-over-quarter.

Economic Return

• Economic return on book value: -0.64%.
• Economic return on adjusted book value: 0.29%.

Dividends

• Dividends per common share: $0.20.

Liquidity & Financing

• Excess liquidity capacity: $416 million, with available cash of $156 million and additional financing available of $260 million.
• Company recourse leverage ratio: 3.8x.
• Portfolio recourse leverage ratio: 3.6x.

Key Developments

• Acquired approximately $503.7 million of Agency investments with an average coupon of 5.29% and $280.2 million in residential loans with an average gross coupon of 9.76%.
• Issued $90.0 million in aggregate principal amount of 9.875% Senior Notes due 2030, with net proceeds of approximately $86.6 million after deducting expenses.
• Completed a securitization of residential loans, resulting in approximately $345.9 million in net proceeds.

Outlook / Guidance

• The acquisition of Constructive Loans, LLC is expected to accelerate NYMT’s expansion into residential business purpose lending, enhancing the company’s ability to meet the growing demand for non-agency credit and support a more diversified balance sheet. The company anticipates continued growth of its portfolio, focusing on assets that offer attractive carry and stable convexity profiles. It remains committed to a balanced capital allocation strategy to stabilize returns amid market volatility in 2025.