New York Mortgage Trust Inc. Reports Q4 Loss, Misses Earnings Estimates
NEW YORK, March 8, 2023 - New York Mortgage Trust Inc. (NYMT) announced a net loss of $31.4 million in its fourth quarter, resulting in a loss of 46 cents per share. Adjusted for non-recurring costs, the loss stood at 44 cents per share, below analysts' consensus estimate of 8 cents per share.
Despite the loss, NYMT reported revenue of $118.3 million for the quarter. Adjusted revenue reached $26.7 million, exceeding Zacks analysts' expectations of $22.8 million.
For the full year, NYMT recorded a loss of $62 million, or $1.14 per share, on revenue of $83.9 million.