New York Mtge Trust Down 3.54% To $7.65 After Earnings Miss

New York Mtge Trust (NYMT) said after close Wednesday that it lost $1.04 per share in quarter three 2023.

On the revenue line, the company reported $16.8 million, missing estimates by $1.8 million.

In the same quarter a year ago, the company lost $1.32 per share on revenue of $14.2 million.

The stock is down 3.54% to $7.65 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 33. Meanwhile, the average Wall Street analyst rated the stock a Buy.

New York Mortgage Trust Inc is a real estate investment trust for federal income tax purposes, in the business of acquiring, investing in, financing and managing mortgage-related and residential housing-related assets. The company's investment portfolio consists of Structured multi-family property investments such as multi-family CMBS an preferred equity in, and mezzanine loans to owners of multi-family properties. Distressed residential assets such as residential mortgage loans sourced from distressed markets and non-Agency RMBS. Second mortgages, Agency RMBS, and certain other mortgage-related and residential housing-related assets.