New York Mortgage Trust (NYMT) Misses Q1 EPS by 1c

New York Mortgage Trust (NASDAQ: NYMT) reported Q1 EPS of $0.14, $0.01 worse than the analyst estimate of $0.15.

• Net income attributable to common stockholders of $16.0 million, or $0.14 per share, and comprehensive income to common stockholders of $18.9 million, or $0.17 per share.
• Net interest income of $13.9 million and portfolio net interest margin of 270 basis points.
• Book value per common share of $6.08 at March 31, 2017, delivering an economic return of 2.4% for the quarter and an annualized economic return of 9.8%.
• Declared first quarter dividend of $0.20 per common share that was paid on April 25, 2017.
• Completed the issuance of $138.0 million aggregate principal amount of Convertible Notes due 2022 that resulted in net proceeds to the Company of approximately $127.0 million at an all in cost to the Company of approximately 8.24%.
• Sold pools of distressed residential mortgage loans with a carrying value of approximately $50.9 million for aggregate proceeds of approximately $62.6 million, which resulted in a net realized gain, before income taxes, of approximately $11.7 million.
• Purchased CMBS securities, including a first loss PO security issued by a Freddie Mac-sponsored multi-family K-Series securitization, for a gross purchase price of approximately $112.5 million.
• Purchased Non-Agency RMBS backed by re-performing and non-performing loans for a gross purchase price of approximately $41.1 million

For earnings history and earnings-related data on New York Mortgage Trust (NYMT) click here.

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