New York Mortgage Trust Stock (NASDAQ: NYMT)

New York Mortgage Trust (NASDAQ:NYMT) Stock

New York Mortgage Trust

New York Mortgage Trust Inc is a real estate investment trust for federal income tax purposes, in the business of acquiring, investing in, financing and managing mortgage-related and residential housing-related assets. The company's investment portfolio consists of Structured multi-family property investments such as multi-family CMBS an preferred equity in, and mezzanine loans to owners of multi-family properties. Distressed residential assets such as residential mortgage loans sourced from distressed markets and non-Agency RMBS. Second mortgages, Agency RMBS, and certain other mortgage-related and residential housing-related assets.

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U.S. mortgage market hit speed bump as rates rise, breaking 5-week growth streak. Buyers remain active, but still face challenges.

Mortgage Applications Dip As Rates Climb: &#39;It Is Still Cheaper To Rent Than Purchase For 82 Out Of 97 Major Cities&#39;

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IBM reported quarterly earnings of $2.43 per share, which beat the analyst consensus estimate of $2.19 per share.

IBM Is Doing A &#39;Great Job,&#39; Jim Cramer Says — But Don&#39;t Buy This Real Estate Stock

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U.S. housing market faces pressure as mortgage rates rise to 6.87%, highest in 2 months. Inflation data and bond yields trigger market sell-off.

Sticky Inflation, Surging Treasury Yields Push Mortgage Rates To 2-Month Peak: Real Estate Stocks Tumble

New York Mortgage Trust, Inc. - Common Stock

New York Mortgage Trust Inc

New York Mortgage Trust, Inc. - 9.125% Senior Notes Due 2030

New York Mortgage Trust, Inc. - 9.125% Senior Notes Due 2029

New York Mortgage Trust, Inc. - 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share

New York Mortgage Trust, Inc. - 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

New York Mortgage Trust, Inc. - 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

New York Mortgage Trust, Inc. - 7.000% Series G Cumulative Redeemable Preferred Stock, $0.01 par value per share

New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) reported quarterly losses of $(0.46) per share which missed the analyst consensus estimate of $0.05 by 1020 percent. This is a 231.43 percent decrease over earnings of $0.35 per share from the same period last year. The company reported quarterly sales of $26.71 million which beat the analyst consensus estimate of $20.77 million by 28.60 percent. This is a 58.99 percent increase over sales of $16.80 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

New York Mortgage Trust Q4 GAAP EPS $(0.46) Misses $0.05 Estimate, Sales $26.71M Beat $20.77M Estimate

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ESRT

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Earnings Scheduled For February 19, 2025

Reported Earlier, New York Mortgage Trust Prices $75M 9.125% Senior Notes Due 2030 With Nasdaq Listing Planned

B. Riley Securities analyst Matt Howlett maintains New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) with a Buy and lowers the price target from $11 to $8.

Price Target

Analyst Ratings

B. Riley Securities Maintains Buy on New York Mortgage Trust, Lowers Price Target to $8

The U.S. mortgage market hit a speed bump last week as rising interest rates pushed application activity lower, breaking a <a href="https://www.benzinga.com/news/econ-s#:~:text=Econ%20%23s%20Recent%20News&amp;text=Markets%20are%20fully%20priced%20in,impact%20monetary%20policy%20for%202025.&amp;text=US%20private%20sector%20ended%202024,Manufacturing%20sector%20still%20in%20contraction.">five-week streak of growth.</a>
According to the Mortgage Bankers Association (MBA), total mortgage applications decreased 0.7% for the week ending Dec. 13, 2024, signaling persistent challenges for buyers and homeowners navigating high-rate environments.
The average interest rate for 30-year fixed-rate mortgages on conforming loan balances — up to $766,550 — rose from 6.67% to 6.75%, snapping three consecutive weeks of marginal declines.
"Mortgage rates increased last week, leading to overall mortgage application activity decreasing for the first time in five weeks,&#8221; said Joel Kan, MBA's vice president and deputy chief economist.
&#8220;Buyers remained active in the purchase market, helped by gradually improving inventory conditions and a more positive outlook on the economy and job market,&#8221; he added.
The Mortgage Refinance Index fell 3% from the previous week, but still remained 41% higher than the same period in 2023. VA refinance applications plunged 17%, offsetting gains seen in prior weeks.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Loan Type</th>
<th>Avg. Rate (%)</th>
<th>Change (bps)</th>
<th>Points</th>
</tr>
</thead>
<tbody>
<tr>
<td>30-Year Fixed (Conforming)</td>
<td>6.75%</td>
<td>+8</td>
<td>0.66</td>
</tr>
<tr>
<td>30-Year Fixed (Jumbo)</td>
<td>6.86%</td>
<td>+7</td>
<td>0.61</td>
</tr>
<tr>
<td>30-Year Fixed (FHA)</td>
<td>6.49%</td>
<td>+2</td>
<td>0.79</td>
</tr>
<tr>
<td>15-Year Fixed</td>
<td>6.15%</td>
<td>+3</td>
<td>0.71</td>
</tr>
<tr>
<td>5/1 Adjustable-Rate Mortgage</td>
<td>6.03%</td>
<td>+22</td>
<td>0.48</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: MBA</figcaption></figure>
<h3 class="wp-block-heading">Housing Affordability: Renting vs. Owning</h3>
Mortgage rates remain near 7%, while home prices have risen in all 97 major U.S. cities. 
Bank of America examined the rent-versus-buy dilemma in 97 U.S. cities in a note to clients on Wednesday.
The result? In places like San Francisco, Los Angeles, and San Jose, mortgage payments now account for a staggering 60-70% of median family income, making renting the clear budget-friendly option, according to the investment bank. 
&#8220;Regionally, it is still cheaper to rent than purchase for 82 out of 97 major cities in the US,&#8221; analyst Jeseo Park wrote. 
New Orleans, Pittsburgh, and El Paso are among the cities where it&#8217;s cheaper to own than rent.
"The housing market is still stuck between high mortgage rates and low inventories," said Park. 
"We've seen some relief with the Federal Reserve starting to ease monetary policy, but rates are unlikely to fall dramatically in the near term. Buyers should expect only mild improvements next year," she added. 
With the mortgage spread hovering around 2-2.5 percentage points and Bank of America analysts forecasting a 10-year yield of 4.25% in 2025, mortgage rates are expected to stay around 6-6.5% next year. 
&#8220;Given that many homeowners locked in low rates during Covid, a mortgage rate above 6% would still be too high to promote significant activity,&#8221; Park stated. 
<h2 class="wp-block-heading">Market Reactions</h2>
The iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>) edged up 0.1% on Wednesday, following twelve losses in the past thirteen sessions.
The VanEck Mortgage REIT Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MORT#NYSE">MORT</a>) climbed 0.5%, recovering from a 1.3% decline on Tuesday.
Stocks within the industry saw minimal movement as markets adopted a cautious, wait-and-see stance ahead of the upcoming Federal Reserve meeting.
Hannon Armstrong Sustainable Infrastructure Capital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HASI#NYSE">HASI</a>) and New York Mortgage Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NYSE">NYMT</a>) were among the top gainers in the MORT ETF, rising 1.8% and 1.2%, respectively. Meanwhile, Ares Commercial Real Estate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACRE#NYSE">ACRE</a>) was among the laggards, slipping 0.9%.
Now Read: 
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42554114/all-eyes-on-december-fed-meeting-as-traders-await-interest-rate-projections">All Eyes On December Fed Meeting As Traders Await Interest Rate Projections</a></li>
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Mortgage Applications Dip As Rates Climb: 'It Is Still Cheaper To Rent Than Purchase For 82 Out Of 97 Major Cities'

Jones Trading analyst Jason Weaver upgrades New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) from Hold to Buy and announces $7.5 price target.

Upgrades

Jones Trading Upgrades New York Mortgage Trust to Buy, Announces $7.5 Price Target

New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) reported quarterly earnings of $0.36 per share which beat the analyst consensus estimate of $0.01 by 3500 percent. The company reported quarterly sales of $20.237 million which missed the analyst consensus estimate of $21.462 million by 5.71 percent. This is a 20.54 percent increase over sales of $16.789 million the same period last year.

New York Mortgage Trust Q3 2024 GAAP EPS $0.36 Beats $0.01 Estimate, Sales $20.237M Miss $21.462M Estimate

New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) will release its quarterly earnings report on Wednesday, 2024-10-30. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate New York Mortgage Trust to report an earnings per share (EPS) of $0.04.
New York Mortgage Trust bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Performance in Previous Earnings</h3>
The company's EPS missed by $0.30 in the last quarter, leading to a 2.01% drop in the share price on the following day.
Here's a look at New York Mortgage Trust's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.01</td>
<td>0.12</td>
<td>0.02</td>
<td>0.10</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.29</td>
<td>-0.75</td>
<td>0.35</td>
<td>-1.04</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>-11.0%</td>
<td>-2.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730217711_0.png" alt="eps graph" />
<h3>Tracking New York Mortgage Trust's Stock Performance</h3>
Shares of New York Mortgage Trust were trading at $5.28 as of October 28. Over the last 52-week period, shares are down 32.85%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/NYMT/earnings">To track all earnings releases for New York Mortgage Trust visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Look Ahead: New York Mortgage Trust's Earnings Forecast

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer recommends holding onto International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) or buy some. 
&#8220;I think IBM's doing a great job,&#8221; the Mad Money host added.
On July 24, IBM reported quarterly earnings of $2.43 per share, which beat the analyst consensus estimate of $2.19. Quarterly sales clocked in at $15.8 billion, which beat the analyst consensus estimate of $15.616 billion.
Cramer also recommended holding on to ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>). &#8220;I think it's Zim's time still,&#8221; he noted.
On Aug. 20, Jefferies analyst Omar Nokta maintained ZIM Integrated Shipping with a Buy and raised the price target from $22 to $25.
When asked about PJT Partners Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJT#NYSE">PJT</a>), he said, &#8220;It's a dice roll. I can't find out a lot about it. I have to be more certain about a company before I can opine it on this show.&#8221;
On July 30, PJT Partners posted better-than-expected quarterly results. PJT Partners reported quarterly earnings of $1.19 per share which beat the analyst consensus estimate of 69 cents per share. The company reported quarterly sales of $360.181 million which beat the analyst consensus estimate of $281.995 million.
What To Avoid: Cramer recommended not buying New York Mortgage Trust, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) after the firm posted weaker-than-expected<a href="https://www.benzinga.com/quote/NYMT/analyst-ratings"> results for the second quarter</a> on July 31. 
NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) is a company that doesn't make money, Cramer said. 
&#8220;I know that we all want to play nuclear energy as a way to be able to get cheaper power for the data centers. I'm not going to recommend Nano as the way to do it,&#8221; he added.
On Aug. 20, Nano Nuclear Energy announced the purchase of 14,000 square-foot facility for $1.71 million.
Price Action:
<ul>
<li>New York Mortgage shares gained 0.8% to settle at $6.44 on Wednesday.</li>
<li>Zim shares fell 3.3% to close at $21.80.</li>
<li>PJT Partners shares gained 1.4% to settle at $123.34 on Wednesday.</li>
<li>NANO Nuclear Energy shares gained 2.7% to close at $11.20 during Wednesday's session.</li>
<li>IBM shares rose 0.6% to close at $197.21 on Wednesday.</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/24/08/40496479/around-1-5m-bet-on-this-real-estate-stock-check-out-these-3-stocks-insiders-are-buying">Around $1.5M Bet On This Real Estate Stock? Check Out These 3 Stocks Insiders Are Buying</a></li>
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IBM Is Doing A 'Great Job,' Jim Cramer Says — But Don't Buy This Real Estate Stock

Janney Montgomery Scott analyst Jason Stewart initiates coverage on New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) with a Neutral rating.

Initiation

Janney Montgomery Scott Initiates Coverage On New York Mortgage Trust with Neutral Rating

New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) reported quarterly losses of $(0.29) per share which missed the analyst consensus estimate of $0.01 by 3000 percent. The company reported quarterly sales of $19.044 million which missed the analyst consensus estimate of $23.479 million by 18.89 percent. This is a 25.82 percent increase over sales of $15.136 million the same period last year.

New York Mortgage Trust Q2 2024 GAAP EPS $(0.29) Misses $0.01 Estimate, Sales $19.044M Miss $23.479M Estimate

Offerings

New York Mortgage Trust Files For Mixed Shelf Of Up To $300M

UBS analyst Douglas Harter maintains New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) with a Neutral and lowers the price target from $7.5 to $6.

UBS Maintains Neutral on New York Mortgage Trust, Lowers Price Target to $6

Keefe, Bruyette &amp; Woods analyst Bose George maintains New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) with a Market Perform and lowers the price target from $8.5 to $7.

Keefe, Bruyette & Woods Maintains Market Perform on New York Mortgage Trust, Lowers Price Target to $7

WIIM

New York Mortgage Trust shares are trading lower after the company reported worse-than-expected Q1 financial results.

New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) reported quarterly losses of $(0.75) per share which missed the analyst consensus estimate of $0.10 by 850 percent. This is a 781.82 percent decrease over earnings of $0.11 per share from the same period last year. The company reported quarterly sales of $17.863 million which missed the analyst consensus estimate of $24.285 million by 26.44 percent. This is a 0.35 percent increase over sales of $17.801 million the same period last year.

New York Mortgage Trust Q1 2024 GAAP EPS $(0.75) Misses $0.10 Estimate, Sales $17.863M Miss $24.285M Estimate

B. Riley Securities analyst Matt Howlett reiterates New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) with a Buy and lowers the price target from $15 to $11.

Reiteration

B. Riley Securities Reiterates Buy on New York Mortgage Trust, Lowers Price Target to $11

B. Riley Securities analyst Matt Howlett maintains New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) with a Buy and lowers the price target from $15 to $11.

B. Riley Securities Maintains Buy on New York Mortgage Trust, Lowers Price Target to $11

New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) reported its Q4 earnings results on Wednesday, February 21, 2024 at 04:05 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
New York Mortgage Trust beat estimated earnings by 1650.0%, reporting an EPS of $0.35 versus an estimate of $0.02.
Revenue was down $5.50 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company missed on EPS by $1.14 which was followed by a 1.26% drop in the share price the next day.
Here's a look at New York Mortgage Trust's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.10</td>
<td>0.11</td>
<td>0.02</td>
<td>0</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-1.04</td>
<td>-0.41</td>
<td>0.11</td>
<td>-0.52</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>18.62M</td>
<td>23.32M</td>
<td>25.88M</td>
<td>20.75M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>16.79M</td>
<td>15.14M</td>
<td>17.80M</td>
<td>22.30M</td>
</tr>
</tbody>
</table>

To track all earnings releases for New York Mortgage Trust <a href="https://www.benzinga.com/quote/NYMT/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

New York Mortgage Trust: Q4 Earnings Insights

New York Mortgage Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) reported quarterly earnings of $0.35 per share which beat the analyst consensus estimate of $0.02 by 1650 percent. The company reported quarterly sales of $16.80 million which missed the analyst consensus estimate of $21.07 million by 20.26 percent. This is a 24.65 percent decrease over sales of $22.30 million the same period last year.

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