Thu, Sep. 15, 4:14 PM
Wed, Aug. 3, 1:00 PM
Wed, Aug. 3, 10:52 AM
- Cutting his 2016-2016 EPS estimates to $0.50, $0.65, and $0.75, respectively, from $0.70, $0.85, and $0.90, respectively, analyst Doug Harter notes continued low visibility into earnings given that estimates rely on realized and unrealized gains.
- Q2's EPS of $0.10 was $0.07 below the Street, but $0.09 lower than Harter's estimate. Excluding realized and unrealized gains of $0.07, EPS of $0.03 missed his estimate by $0.04.
- He reiterates an Underperform rating with $5.50 price target.
- Douglas Harter ranks #2,030 out of #4,071 analysts on TipRanks.
- NYMT -8.2% to $5.95.
- Previously: "New trading paradigm" hampers New York Mortgage results (Aug. 2)
Tue, Aug. 2, 4:44 PM
- Q2 net income of $11.2M or $0.10 per share vs. $13.7M and $0.13 one year ago. Dividend is $0.24.
- Book value per share of $6.38 slips from $6.49 three months earlier. Today's close of $6.48 is a modest premium to book.
- Economic return for the quarter of $0.13 per share, or roughly 8% annualized.
- Company took continued steps to focus on credit, purchasing $98M of distressed residential securities and $15M of Freddie Mac K Series CMBS, while reducing net capital allocated to agency RMBS by about 11%.
- Quiet trading volumes. however, are lengthening the time frame to put capital to work in desired asset classes, hampering earnings.
- CC tomorrow at 9 ET
- Previously: New York Mortgage Trust misses by $0.08 (Aug. 2)
- NYMT flat after hours
Tue, Aug. 2, 4:31 PM
Mon, Aug. 1, 5:35 PM
- ACLS, AFG, AGII, AIG, AMED, AMSG, AR, ARC, AVD, BEAT, BECN, BGFV, BPI, BRKR, CALD, CALX, CAR, CENT, CERN, CHEF, CHUY, CLI, CLUB, CRAY, CSU, CXO, CZR, DEI, DVN, DXCM, EA, ELGX, ENLK, ENPH, ESE, ESIO, EXAM, FANG, FARO, FGL, FISV, FIT, FMC, FMI, FNGN, FORM, FTAI, FTV, FUEL, GHDX, GLUU, GNW, GUID, HBI, HCI, HIW, HRZN, INN, JIVE, KAR, KFRC, LOCK, LQ, MATX, MDU, MOD, MRC, MRCY, MXWL, NBR, NEWR, NFX, NOVT, NPO, NYMT, OCLR, OESX, OHI, OKE, OKS, OMI, ORA, PAA, PAGP, PAYC, PBPB, PLT, PRMW, PRO, PZZA, QRVO, QUOT, REXX, RGR, RIGL, RLOC, RPAI, RPXC, RUBI, SF, SGY, SLCA, SM, STAG, SUPN, SYRG, TMH, TNAV, TPC, TRQ, TRUP, TSRA, TX, VNOM, VRSK, VTAE, WMGI, WR, WTR, XXIA, Y, ZAGG, ZEN
Wed, Jun. 22, 1:01 PM
Thu, Jun. 16, 5:26 PM
Wed, Jun. 15, 3:20 PM
- Fed Funds futures markets are pricing in just a 50% chance of a rate hike in 2016 after the FOMC stayed on hold in June and cut its expectations for future moves higher in interest rates.
- The mREITs (REM +0.7%) are up just modestly, but all higher now than they were prior to the FOMC news.
- Annaly Capital (NLY +0.6%), American Capital Agency (AGNC +0.9%), Armour (ARR +1.4%), CYS Investments (CYS +1%), New York Mortgage (NYMT +1.4%), Capstead Mortgage (CMO +1.1%).
- ETFs: MORL, REM, MORT
Fri, Jun. 10, 8:21 AM
Wed, Jun. 1, 4:36 PM
- New York Mortgage Trust (NASDAQ:NYMT) President Kevin Donlon purchased about $1.2M worth of stock yesterday, picking up 203.4K shares at roughly $5.92 each.
- NYMT is up nearly 50% from the lows hit in late February, but at today's close of $5.99 was at a 7.7% discount to March 31 book value.
- Shares +1.7% after hours to $6.09.
Tue, May 3, 4:10 PM
- Q1 net income of $13.7M or $0.13 per share vs. $1M and $0.01 in Q4, $22.4M and $0.20 the quarter before that. Dividend is $0.24.
- Book value per share of $6.49 vs. $6.54 three months ago. Today's close was $5.07, a 22% discount to book.
- Economic return for the quarter of $0.19, or 11.6% annualized.
- Company today agreed to buy the 80% of RiverBanc LLC it doesn't already own for $24M in cash. RivrBanc is an investment management firm with $400M of direct and indirect investments in multifamily properties. It's CEO Kevin Donlon will become president of New York Mortgage Trust (NASDAQ:NYMT) as part of the deal.
- Conference call at 9 ET
- Previously: New York Mortgage Trust misses by $0.04 (May 3)
- Shares flat AH
Tue, May 3, 4:07 PM
Mon, May 2, 5:35 PM
- AGU, AMED, AMSG, ARC, AVD, BFAM, BGFV, BKH, BPI, CAI, CALD, CALX, CAR, CBS, CERS, CHEF, CHUY, CRAY, CSU, DVN, ENLK, ENPH, EPIQ, ETSY, FANG, FARO, FMI, GLUU, GMED, GNMK, HCI, HI, HRZN, IAG, IL, ILMN, INN, JKHY, KAMN, KAR, KFRC, LCI, LYV, MAC, MDU, MTCH, MTDR, MXWL, MYGN, NDLS, NFX, NKTR, NTRI, NYMT, OCLR, OKE, OKS, OMI, PAYC, PBPB, PKD, PLT, PRMW, PRO, PZZA, QUAD, QUOT, REG, REGI, RIGL, RLOC, RPXC, RSYS, RTRX, RUBI, SM, SPA, STAG, SUPN, TAHO, TNAV, TXMD, USNA, VIAV, VNOM, VRSK, VVUS, WES, WGP, WR, WTR, WU, XCO, XPO, XXIA, ZEN
Mon, Apr. 11, 12:49 PM
- Annaly Capital (NLY -1.1%) is lower following its agreement to purchase Hatteras Financial (HTS +10.2%) for $1.5B in cash and stock. The other sector giant, American Capital Agency (AGNC -0.1%) is in the red as well - makes sense considering these two players are acquirers (or at least potentially so), not targets.
- With the deal, Annaly is adding a portfolio of variable rate mortgages to its books for about 85% of book value.
- The rest of the sector has market caps of about $2.5B down to sub-$250M, making them digestible as well.
- CYS Investments (CYS +1.3%), American Capital Mortgage (MTGE +1.9%), New York Mortgage (NYMT +2.5%), Anworth Mortgage (ANH +1.2%), Dynex Capital (DX +0.9%), AG Mortgage (MITT +1.2%), Ellington Residential (EARN +1.2%), PennyMac (PMT +1%), Five Oaks (OAKS +1.6%).
- ETFs: MORL, REM, MORT
- Now read: Annaly: Boom Goes The Dynamite (April 11)
Tue, Mar. 29, 2:56 PM
- A fast series of rate hikes wouldn't be good news for mortgage REITs, whose carry-trade business model breaks down with a flat or, worse, inverted yield curve.
- Any worries about hawkish Fed action were considerably diminished today after Janet Yellen said caution on rate hikes is "especially warranted," and suggested there's more slack in the labor market than what the trim 4.9% headline UE rate would suggest.
- Mostly lower earlier, the mREIT sector (REM +1.2%) has turned sharply higher.
- Annaly Capital (NLY +0.35), American Capital (AGNC +0.4%), Armour (ARR +1.2%), CYS Investments (CYS +2.3%), New York Mortgage (NYMT +3.2%), MFA Financial (MFA +1.4%), Western Asset (WMC +2.7%), Anworth (ANH +1.5%), Dynex (DX +2.1%), AG Mortgage (MITT +1.9%), Ellington Financial (EFC +1.2%).