- New York Mortgage Trust press release ( NASDAQ: NYMT ): Q3 GAAP EPS of -$0.33 misses by $0.23 .
- Total net interest income of $14.22M (-54.2% Y/Y) misses by $12.76M .
- Jason Serrano, Chief Executive Officer and President, commented: “The historic rate volatility witnessed in September that was driven by heightened inflationary fears sharply lowered asset prices across the fixed income markets. Our pivot to effectively halting asset pipeline activity throughout the entirety of the third quarter proved to be appropriate and helped enhance our balance sheet while minimizing book value decline. By constraining strategies that deeply depend on securitization market execution, limiting mark-to-market financing exposure and constructing a short-duration investment portfolio that allows us to maintain elevated unrestricted cash, we are well positioned to quickly rotate and take advantage of the emerging dislocation in this higher rate environment and we believe opportunities in this channel will provide a superior path to capital deployment for attractive risk-adjusted returns. With a strong balance sheet and multiple decades of experience in the distressed investment space, we are prepared for and excited about NYMT’s future.”
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New York Mortgage Trust GAAP EPS of -$0.33 misses by $0.23, Total net interest income of $14.22M misses by $12.76M