New York Mortgage Trust, Inc. has recently released its 10-Q report, providing an insight into its business operations. The company, incorporated in 2003 and headquartered in New York, acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. New York Mortgage Trust, Inc. qualifies as a real estate investment trust for federal income tax purposes and generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders.
In the 10-Q, New York Mortgage Trust, Inc. provided an update on its portfolio activity during the three months ended March 31, 2025. The company continued to expand its investment securities and residential loan portfolios, with acquisitions totaling approximately $1.9 billion during the period. The investment activity was offset primarily by repayments and sales of investment securities and residential loans. The company's investment portfolio as of March 31, 2025, stood at approximately $8.3 billion.
Since the second quarter of 2023, New York Mortgage Trust, Inc. has focused on stabilizing its portfolio through increased investment activity, with a particular focus on assets with less price sensitivity to credit deterioration, such as Agency RMBS, and low duration, higher-coupon investments like business purpose loans. The company's efforts in this regard contributed to a 55% increase in interest income and a more than 57% increase in adjusted interest income for the first quarter of 2025 over the same period in 2024. Additionally, the company generated net income attributable to common stockholders of $0.33 per share and earnings available for distribution of $0.20 per share for the first quarter of 2025, demonstrating continued momentum in portfolio growth and income generation.
Furthermore, New York Mortgage Trust, Inc. announced a strategic repositioning of its business in September 2022, aiming to opportunistically dispose of its joint venture equity investments in multi-family properties over time and reallocate the returned capital from such investments to its targeted assets. As of March 31, 2025, the company had reduced its exposure to this disposal group of multi-family investments to $19.9 million over two multi-family properties.
The 10-Q report provides a detailed insight into New York Mortgage Trust, Inc.'s financial condition, portfolio activity, and strategic initiatives, offering investors and stakeholders a comprehensive view of the company's operations and performance. As a result of these announcements, the company's shares have moved 4.7% on the market, and are now trading at a price of $6.65. For more information, read the company's full 10-Q submission here.
