New York Mortgage reports Q4 EPS (44c)

Reports Q4 adjusted book value per share $10.35. Jason Serrano, CEO, commented: “During 2024, the Company’s approach to earnings growth focused on strategically deploying excess liquidity to expand the balance sheet, with a goal of enhancing recurring income. Accordingly, the Company’s portfolio grew by $2.2 billion, or 44%, driven primarily by acquisitions in liquid agency bond markets and higher-spread bridge loan markets. As a result, adjusted interest income rose 11% for the fourth quarter, contributing to year-over-year growth in adjusted interest income of 60%. The significant portfolio restructuring that began in 2022 and continued through this past year has provided us with an exciting opportunity to optimize returns and produce durable earnings in the years ahead.”