New York Mortgage Trust (NASDAQ:NYMT) First Quarter 2024 Results

Key Financial Results

• Revenue: US$28.7m (down 60% from 1Q 2023).

• Net loss: US$68.3m (down from US$10.5m profit in 1Q 2023).

• US$0.75 loss per share (down from US$0.12 profit in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

New York Mortgage Trust Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 21%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is expected to decline by 15% p.a. on average during the next 2 years, while revenues in the Mortgage REITs industry in the US are expected to grow by 31%.

Performance of the American Mortgage REITs industry.

The company's shares are down 11% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for New York Mortgage Trust that you need to take into consideration.

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