Book value per common share of $5.75 at March 31, 2019 rose from $5.65 at Dec. 31, 2018.
"The company’s earnings not only benefited from spread tightening during the quarter, but were also spurred by the impact for a full quarter of the company’s $944.2M of fourth-quarter credit investments, much of which was funded in December," said Chairman and CEO Steven Mumma.
Q1 net interest income of $26.2M and portfolio net interest margin of 2.40% vs. $21.9M and 2.30% in Q4 2018, with the improvement in net interest income driven by the increase of $604.3M in average interest earning assets in residential credit and multifamily credit portfolios.
Q1 EPS of 21 cents increased from 2 cents in Q4 and 20 cents in the year-ago quarter.
Conference call on May 7 at 9:00 AM ET.
Previously: New York Mortgage Trust misses on revenue (May 6)
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