NasdaqGS:NYMT

Stock Analysis Report

Executive Summary

New York Mortgage Trust, Inc. acquires, invests in, finances, and manages mortgage-related and residential housing-related assets in the United States.


Snowflake Analysis

Very undervalued with solid track record.


Similar Companies

Share Price & News

How has New York Mortgage Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: NYMT has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.2%

NYMT

-4.8%

US Mortgage REITs

-7.4%

US Market


1 Year Return

2.3%

NYMT

2.7%

US Mortgage REITs

10.5%

US Market

Return vs Industry: NYMT matched the US Mortgage REITs industry which returned 2.7% over the past year.

Return vs Market: NYMT underperformed the US Market which returned 10.5% over the past year.


Shareholder returns

NYMTIndustryMarket
7 Day-3.2%-4.8%-7.4%
30 Day-2.4%-0.2%-3.6%
90 Day-0.9%3.6%-0.6%
1 Year16.4%2.3%13.7%2.7%12.8%10.5%
3 Year41.3%-4.1%37.4%-0.5%37.4%28.6%
5 Year55.7%-22.5%65.0%-5.1%61.3%43.6%

Price Volatility Vs. Market

How volatile is New York Mortgage Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is New York Mortgage Trust undervalued compared to its fair value and its price relative to the market?

46.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NYMT ($6.14) is trading below our estimate of fair value ($11.48)

Significantly Below Fair Value: NYMT is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: NYMT is good value based on its PE Ratio (9.4x) compared to the Mortgage REITs industry average (12.9x).

PE vs Market: NYMT is good value based on its PE Ratio (9.4x) compared to the US market (17.2x).


Price to Earnings Growth Ratio

PEG Ratio: NYMT is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: NYMT is good value based on its PB Ratio (1x) compared to the US Mortgage REITs industry average (1x).


Next Steps

Future Growth

How is New York Mortgage Trust forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

29.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NYMT's forecast earnings growth (29% per year) is above the savings rate (1.7%).

Earnings vs Market: NYMT's earnings (29% per year) are forecast to grow faster than the US market (13.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: NYMT's revenue is expected to decline over the next 3 years (-1.5% per year).

High Growth Revenue: NYMT's revenue is forecast to decline over the next 3 years (-1.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NYMT's Return on Equity is forecast to be low in 3 years time (13.4%).


Next Steps

Past Performance

How has New York Mortgage Trust performed over the past 5 years?

0.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NYMT has high quality earnings.

Growing Profit Margin: NYMT's current net profit margins (64.3%) are higher than last year (54.4%).


Past Earnings Growth Analysis

Earnings Trend: NYMT's earnings have grown by 0.4% per year over the past 5 years.

Accelerating Growth: NYMT's earnings growth over the past year (82.9%) exceeds its 5-year average (0.4% per year).

Earnings vs Industry: NYMT earnings growth over the past year (82.9%) exceeded the Mortgage REITs industry 11.3%.


Return on Equity

High ROE: NYMT's Return on Equity (7.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is New York Mortgage Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: NYMT has a low level of unsold assets or inventory.

Debt Coverage by Assets: NYMT's debt is not covered by short term assets (assets are 1x debt).


Financial Institutions Analysis

Asset Level: NYMT's level of assets compared to its equity is moderate.

Allowance for Bad Loans: Insufficient data to determine if NYMT has a sufficient allowance for bad loans.

Low Risk Liabilities: NYMT reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if NYMT has an acceptable proportion of non-loan assets held.

Low Risk Deposits: NYMT has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if NYMT has an appropriate level of bad loans.


Next Steps

Dividend

What is New York Mortgage Trust's current dividend yield, its reliability and sustainability?

13.03%

Current Dividend Yield


Dividend Yield vs Market

company13.0%marketbottom25%1.5%markettop25%3.9%industryaverage9.7%forecastin3Years13.0%

Current dividend yield vs market & industry

Notable Dividend: NYMT's dividend (13.03%) is higher than the bottom 25% of dividend payers in the US market (1.52%).

High Dividend: NYMT's dividend (13.03%) is in the top 25% of dividend payers in the US market (3.9%)


Stability and Growth of Payments

Stable Dividend: NYMT's dividend payments have been volatile in the past 10 years.

Growing Dividend: NYMT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (122.3%), NYMT's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: NYMT's dividends in 3 years are not forecast to be well covered by earnings (98.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average management tenure


CEO

Steve Mumma (60yo)

11yrs

Tenure

US$3,345,728

Compensation

Mr. Steven R. Mumma, also known as Steve, CPA has been Chief Executive Officer of New York Mortgage Trust Inc. since February 3, 2009 and served as its President from March 31, 2007 to May 2016. Mr. Mumma  ...


CEO Compensation Analysis

Compensation vs Market: Steve's total compensation ($USD3.35M) is about average for companies of similar size in the US market ($USD3.92M).

Compensation vs Earnings: Steve's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Steven Mumma
Chairman & CEO11yrsUS$3.35m0.24% $5.7m
Kristine Nario
Chief Financial Officer5.8yrsUS$1.01m0.027% $626.8k
Nathan Reese
COO & Secretary1.4yrsUS$1.04m0.035% $826.3k
Jason Serrano
President & Director0.9yrsno data0.098% $2.3m
Stephen L. Hogue
MD & Head of Multifamily Asset Management2.4yrsno datano data
Steven Brannan
MD & Head of Multifamily Credit Acquisitions2.4yrsno datano data
Emily Stiller
Controller0yrsno datano data
Thomas White
Consultant0yrsUS$61.43kno data

2.4yrs

Average Tenure

42yo

Average Age

Experienced Management: NYMT's management team is considered experienced (2.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Steven Mumma
Chairman & CEO11yrsUS$3.35m0.24% $5.7m
Jason Serrano
President & Director0.9yrsno data0.098% $2.3m
David Bock
Independent Director8.1yrsUS$210.00k0.025% $592.9k
Steven Norcutt
Independent Director15.7yrsUS$210.00k0.029% $667.8k
Alan Hainey
Lead Director4.9yrsUS$210.00k0.044% $1.0m
Michael Clement
Independent Director3.7yrsUS$210.00k0.016% $369.8k
Lisa Pendergast
Independent Director1.9yrsUS$180.00k0.0090% $210.7k

4.9yrs

Average Tenure

60yo

Average Age

Experienced Board: NYMT's board of directors are considered experienced (4.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 74%.


Top Shareholders

Company Information

New York Mortgage Trust, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: New York Mortgage Trust, Inc.
  • Ticker: NYMT
  • Exchange: NasdaqGS
  • Founded: 2003
  • Industry: Mortgage REITs
  • Sector: Diversified Financials
  • Market Cap: US$2.341b
  • Shares outstanding: 377.53m
  • Website: https://www.nymtrust.com

Number of Employees


Location

  • New York Mortgage Trust, Inc.
  • 90 Park Avenue
  • Floor 23
  • New York
  • New York
  • 10016
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NYMTNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJun 2004
NKZBDB (Deutsche Boerse AG)YesCommon StockDEEURJun 2004
NYMT.PNasdaqGS (Nasdaq Global Select)RED PFD B 7.75%USUSDJun 2013
NYMT.ONasdaqGS (Nasdaq Global Select)PFD-C CONVUSUSDApr 2015
NYMT.NNasdaqGS (Nasdaq Global Select)8% RED PFD DUSUSDOct 2017
NYMT.MNasdaqGS (Nasdaq Global Select)7.875 PFD CL EUSUSDOct 2019

Biography

New York Mortgage Trust, Inc. acquires, invests in, finances, and manages mortgage-related and residential housing-related assets in the United States. Its investment portfolio includes structured multi-family property investments, such as multi-family commercial mortgage-backed securities and preferred equity in, and mezzanine loans to owners of multi-family properties; residential mortgage loans, including distressed residential mortgage loans, non- qualified mortgage loans, second mortgages, and other residential mortgage loans; non-agency residential mortgage-backed securities (RMBS); agency RMBS; and other mortgage-related and residential housing-related assets. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. New York Mortgage Trust, Inc. was incorporated in 2003 and is headquartered in New York, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/26 01:09
End of Day Share Price2020/02/25 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.