New York Mortgage Trust (NASDAQ: NYMT) reported Q4 EPS of $0.21, $0.04 better than the analyst estimate of $0.17.

Steven Mumma, Chairman and Chief Executive Officer, commented: “During a year in which the Company nearly doubled its equity market capitalization and investment portfolio, the steady and disciplined execution of the Company’s credit-focused investment strategy by its team of professionals has produced impressive results. The Company finished the year on a strong note, generating $0.20 per share of GAAP earnings and $0.21 per share of comprehensive income for the fourth quarter of 2019. For the full year, the Company earned $0.65 per share in GAAP earnings, while posting comprehensive income of $0.87 per share, equivalent to 109% of common share dividends declared during the year. The Company’s financial performance generated economic returns of 3.6% and 16.5% for the fourth quarter and full year 2019, respectively. Over the last three years, the Company has delivered an average annual economic return of 12%.

The Company continued to opportunistically access the capital markets through equity issuances during the fourth quarter and full year 2019, raising approximately $339 million and $957 million, respectively. In fact, during 2019 alone, the Company’s capital markets’ activity contributed approximately $29 million of accretion to book value. Subsequent to the year end, the Company completed two successful raises adding another $512 million in common stock to bring our total equity market capitalization to approximately $2.9 billion.”

Jason Serrano, President, added: “NYMT’s core operating model centers around efficiency and flexibility. The Company’s growth within the Multi-Family and Single-Family strategies was achieved through adherence to these principles. The Company adopts a total return approach and targets investments that will add additional value to our existing portfolio of diverse income-producing assets. By broadening our sources of income through recurring gains and new opportunities that the market may offer, the Company will continue to drive earnings while reducing expense levels on a relative basis. Therefore, the Company will continue to focus on new, niche subsectors to drive total returns and mitigate against the potential volatility associated with high leverage. To provide a deeper understanding of our efforts to deliver exceptional value to our shareholders, we are pleased to announce the release of a new supplemental investor presentation intended to complement the Company’s earnings calls."

For earnings history and earnings-related data on New York Mortgage Trust (NYMT) click here.