NYMT Files Q2 2024 10-Q

TL;DR

NYMT's Q2 10-Q is in. Check financials.

AI Summary

New York Mortgage Trust Inc. (NYMT) filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including assets, liabilities, and equity. Specific financial figures and operational details for the second quarter of 2024 are presented.

Why It Matters

This filing provides investors with a detailed look at the financial health and operational performance of New York Mortgage Trust Inc. during the second quarter of 2024.

Risk Assessment

Risk Level: medium — As a mortgage trust, the company is exposed to risks related to interest rate fluctuations and the housing market.

Key Numbers

• 0.25 — Dividend per share (Indicates a potential cash distribution to shareholders for the period.)

Key Players & Entities

• NEW YORK MORTGAGE TRUST INC (company) — Filer
• 0001273685-24-000063 (filing_id) — Accession Number
• 20240630 (date) — Period of Report
• 20240802 (date) — Filed as of Date
• 90 PARK AVENUE. 23RD FLOOR (address) — Business Address
• New York (location) — Business City
• 10016 (zip_code) — Business Zip
• 212-792-0107 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share NYMT NASDAQ Stock Market 8.
• $25.00 — erred Stock, par value $0.01 per share, $25.00 Liquidation Preference NYMTN NASDAQ Sto

Filing Documents

• nymt-20240630.htm (10-Q) — 5323KB
• ex311june2024.htm (EX-31.1) — 11KB
• ex312june2024.htm (EX-31.2) — 11KB
• ex321june2024.htm (EX-32.1) — 8KB
• 0001273685-24-000063.txt ( ) — 24063KB
• nymt-20240630.xsd (EX-101.SCH) — 135KB
• nymt-20240630_cal.xml (EX-101.CAL) — 153KB
• nymt-20240630_def.xml (EX-101.DEF) — 899KB
• nymt-20240630_lab.xml (EX-101.LAB) — 1180KB
• nymt-20240630_pre.xml (EX-101.PRE) — 1094KB
• nymt-20240630_htm.xml (XML) — 5232KB

Financial Information

PART I. Financial Information

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of June 3 0 , 2024 (Unaudited) and December 31, 2023 4 Unaudited Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30 , 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended June 30 , 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months Ended June 30 , 2024 and 2023 7 Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30 , 2024 and 2023 10 Unaudited Notes to the Condensed Consolidated Financial Statements 12 Note 1. Organization 12 Note 2. Summary of Significant Accounting Policies 13 Note 3. Residential Loans, at Fair Value 17 Note 4. Investment Securities Available For Sale, at Fair Value 19 Note 5. Multi-family Loans, at Fair Value 22 Note 6. Equity Investments, at Fair Value 23 Note 7. Use of Special Purpose Entities (SPE) and Variable Interest Entities (VIE) 26 Note 8. Real Estate, Net 33 Note 9. Assets and Liabilities of Disposal Group Held for Sale 35 Note 10. Derivative Instruments and Hedging Activities 37 Note 11. Other Assets and Other Liabilities 44 Note 12. Repurchase Agreements 45 Note 13. Collateralized Debt Obligations 48 Note 14. Debt 50 Note 15. Commitments and Contingencies 53 Note 16. Fair Value of Financial Instruments 54 Note 17. Stockholders' Equity 65 Note 18. Loss Per Common Share 69 Note 19. Stock Based Compensation 70 Note 20. Income Taxes 73 Note 21. Net Interest Income 75 Note 22. Other Income (Loss) 76

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 77

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 136

Controls and Procedures

Item 4. Controls and Procedures 142

OTHER INFORMATION

PART II. OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 143

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 144

Exhibits

Item 6. Exhibits 145

SIGNATURES

SIGNATURES 148 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements The accompanying notes are an integral part of the condensed consolidated financial statements. 3 Table of Contents NEW YORK MORTGAGE TRUST, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollar amounts in thousands, except share data) June 30, 2024 December 31, 2023 (unaudited) ASSETS Residential loans, at fair value $ 3,503,191 $ 3,084,303 Investment securities available for sale, at fair value 2,672,079 2,013,817 Multi-family loans, at fair value 92,997 95,792 Equity investments, at fair value 142,915 147,116 Cash and cash equivalents 235,514 187,107 Real estate, net 879,931 1,131,819 Assets of disposal group held for sale 373,538 426,017 Other assets 328,718 315,357 Total Assets (1) $ 8,228,883 $ 7,401,328 LIABILITIES AND EQUITY Liabilities: Repurchase agreements $ 2,952,289 $ 2,471,113 Collateralized debt obligations ($ 1,577,111 at fair value and $ 972,389 at amortized cost, net as of June 30, 2024 and $ 593,737 at fair value and $ 1,276,780 at amortized cost, net as of December 31, 2023) 2,549,500 1,870,517 Senior unsecured notes ($ 60,000 at fair value and $ 98,492 at amortized cost, net as of June 30, 2024 and $ 98,111 at amortized cost, net as of December 31, 2023) 158,492 98,111 Subordinated debentures 45,000 45,000 Mortgages payable on real estate, net 592,919 784,421 Liabilities of disposal group held for sale 340,138 386,024 Other liabilities 125,794 118,016 Total liabilities (1) 6,764,132 5,773,202 Commitments and Contingencies ( See Note 15 ) Redeemable Non-Controlling Interest in Consolidated Variable Interest Entities 23,088 28,061 Stockholders' Equity: Preferred stock, par value $ 0.01 per share, 31,500,000 shares authorized, 22,164,414 shares issued and outstanding ($ 554,110 aggregate liquidation preference) 535,445 535,445 Common stock, par value $ 0.01 per share, 200,000,000 shares authorized, 90,592,065 and 90,675,403 shares issued

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View this 10-Q filing on SEC EDGAR