NYMT Files Q3 2024 10-Q: Financials Revealed
Ticker: ADAMI · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 1273685
| Field | Detail |
|---|---|
| Company | New York Mortgage Trust Inc (ADAMI) |
| Form Type | 10-Q |
| Filed Date | Nov 1, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01, $25.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, real-estate, mortgage-trust, financials
TL;DR
NYMT's Q3 2024 10-Q is in. Check financials for latest performance.
AI Summary
New York Mortgage Trust Inc. (NYMT) filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its assets and liabilities. Specific financial figures and operational details are provided within the report.
Why It Matters
This filing provides investors with a detailed look into NYMT's financial health and operational performance for the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a mortgage trust, NYMT is exposed to interest rate fluctuations and real estate market risks, which can significantly impact its financial performance.
Key Numbers
- 2024 Q3 — Reporting Period (Indicates the specific quarter and year the financial data pertains to.)
- 0.25 — Dividend per Share (Represents a specific dividend payout, relevant for income-focused investors.)
Key Players & Entities
- NEW YORK MORTGAGE TRUST INC (company) — Filer
- 20240930 (date) — Period of Report
- 20241101 (date) — Filing Date
- 90 PARK AVENUE. 23RD FLOOR (address) — Business and Mail Address
- NYMT (company) — Ticker Symbol
FAQ
What were the total assets and liabilities of New York Mortgage Trust Inc. as of September 30, 2024?
The filing does not explicitly state the total assets and liabilities in the provided snippet, but it references 'OtherAssets' and 'OtherLiabilities' from the US GAAP taxonomy.
What is the primary business of New York Mortgage Trust Inc.?
New York Mortgage Trust Inc. is classified under 'REAL ESTATE INVESTMENT TRUSTS' (SIC code 6798).
When was the company incorporated and what is its fiscal year end?
The company was incorporated in Maryland (MD) and its fiscal year ends on December 31.
What is the significance of the C METermSecuredOvernightFinancingRateMember reference?
This reference likely pertains to the company's exposure or management of risks associated with the Secured Overnight Financing Rate (SOFR), a key benchmark interest rate.
Does the filing mention any unrealized gains or losses on investments?
Yes, the filing includes references to 'UnrealizedGainLossOnInvestments' from the US GAAP taxonomy, indicating that such figures are part of the financial reporting.
Filing Stats: 4,762 words · 19 min read · ~16 pages · Grade level 20 · Accepted 2024-11-01 16:21:26
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-20240930.htm (10-Q) — 5413KB
- exhibit1012024.htm (EX-10.1) — 71KB
- ex311sept2024.htm (EX-31.1) — 11KB
- ex312sept2024.htm (EX-31.2) — 11KB
- ex321sept2024.htm (EX-32.1) — 8KB
- 0001273685-24-000081.txt ( ) — 24870KB
- nymt-20240930.xsd (EX-101.SCH) — 137KB
- nymt-20240930_cal.xml (EX-101.CAL) — 152KB
- nymt-20240930_def.xml (EX-101.DEF) — 924KB
- nymt-20240930_lab.xml (EX-101.LAB) — 1203KB
- nymt-20240930_pre.xml (EX-101.PRE) — 1122KB
- nymt-20240930_htm.xml (XML) — 5365KB
Financial Information
PART I. Financial Information
Condensed Consolidated Financial Statements
Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of S eptember 30, 2024 (Unaudited) and December 31, 2023 4 Unaudited Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Comprehensive Income ( Loss ) for the Three and Nine Months Ended September 30, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Nine Months Ended Sept e m ber 30, 2024 and 2023 7 Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 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 43 Note 12. Repurchase Agreements 44 Note 13. Collateralized Debt Obligations 47 Note 14. Debt 49 Note 15. Commitments and Contingencies 52 Note 16. Fair Value of Financial Instruments 53 Note 17. Stockholders' Equity 65 Note 18. Earnings ( Loss ) Per Common Share 69 Note 19. Stock Based Compensation 70 Note 20. Income Taxes 74 Note 21. Net Interest Income 76 Note 22. Other Income 77
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 78
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 137
Controls and Procedures
Item 4. Controls and Procedures 143
OTHER INFORMATION
PART II. OTHER INFORMATION
Risk Factors
Item 1A. Risk Factors 144
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 145
Exhibits
Item 6. Exhibits 146
SIGNATURES
SIGNATURES 149 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) September 30, 2024 December 31, 2023 (unaudited) ASSETS Residential loans, at fair value $ 3,777,144 $ 3,084,303 Investment securities available for sale, at fair value 3,385,270 2,013,817 Multi-family loans, at fair value 87,614 95,792 Equity investments, at fair value 146,833 147,116 Cash and cash equivalents 195,066 187,107 Real estate, net 755,702 1,131,819 Assets of disposal group held for sale 197,665 426,017 Other assets 360,620 315,357 Total Assets (1) $ 8,905,914 $ 7,401,328 LIABILITIES AND EQUITY Liabilities: Repurchase agreements $ 3,611,115 $ 2,471,113 Collateralized debt obligations ($ 1,900,228 at fair value and $ 902,038 at amortized cost, net as of September 30, 2024 and $ 593,737 at fair value and $ 1,276,780 at amortized cost, net as of December 31, 2023) 2,802,266 1,870,517 Senior unsecured notes ($ 60,900 at fair value and $ 98,687 at amortized cost, net as of September 30, 2024 and $ 98,111 at amortized cost, net as of December 31, 2023) 159,587 98,111 Subordinated debentures 45,000 45,000 Mortgages payable on real estate, net 492,321 784,421 Liabilities of disposal group held for sale 177,869 386,024 Other liabilities 145,794 118,016 Total liabilities (1) 7,433,952 5,773,202 Commitments and Contingencies ( See Note 15 ) Redeemable Non-Controlling Interest in Consolidated Variable Interest Entities 21,826 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, 90,579,449 and 90,675,403