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New York Mortgage Trust Inc. Message Board

sme20_98 73 posts  |  Last Activity: Aug 28, 2015 2:46 PM Member since: May 10, 1999
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  • Reply to

    Comment and question on CC transcript

    by jrfillion Aug 28, 2015 2:29 PM
    sme20_98 sme20_98 Aug 28, 2015 2:46 PM Flag

    I believe NOI is net operating income. Also, I confirmed with investor relations that the SO was done for an immediate deal. Money is being put to work in a high ROE lending business. Also BV was $6.27 prior to the deal and is roughly $6.17 or a 10 cent difference or just 1.6% of previous BV--not 13% dilution. People keep forgetting that the company got 40+ million from the share sale. They didn't give the shares away!

    Sentiment: Strong Buy

  • from the younger generation who tend not to sit still in one spot for long so they rent instead of owning. RAS has positioned itself well in this market owning these properties with fast rising rents, selling those at peak for significant gains, and managing a company who does the same(IRT), while collecting management fees and owning a significant investment in the same. WIN-WIN-WIN--I am all in RAS ,love how they are positioned and will now start reaping the benefits of the last five years of positioning. All my opinion of course, but tell me where I have missed out. By the way ZACKS investment feels the same way--not to bad.

    Sentiment: Strong Buy

  • sme20_98 sme20_98 Aug 28, 2015 7:27 AM Flag

    Again, part of their business plan--buying and selling real estate at a gain--Isn't that what some do in the stock market to make money? You guys are clearly missing managements intent here, perhaps you should understand a stock before attacking it's management.

    Sentiment: Strong Buy

  • Reply to

    what counts for determining dividend

    by muckahoy88 Aug 27, 2015 6:32 PM
    sme20_98 sme20_98 Aug 28, 2015 7:23 AM Flag

    Buying and selling properties is part of their business model--when are you going to get that straight. When they are successful in selling at a gain we will see an increase in the dividend or a special payout. In the mean time, CAD of 21 cents net of the property sales was more than adequate to cover an 18 cent dividend. PERIOD.

    Sentiment: Strong Buy

  • Reply to

    mr foulger sir

    by muckahoy88 Aug 27, 2015 10:31 PM
    sme20_98 sme20_98 Aug 28, 2015 7:14 AM Flag

    I have found most of your postings to be NEITHER accurate or correct. CD's would be a good choice for you at this point.

    Sentiment: Strong Buy

  • sme20_98 sme20_98 Aug 27, 2015 6:33 PM Flag

    Buying and selling real estate is part of RAS's business plan. Why should the gains from such be ignored?

    Sentiment: Strong Buy

  • Reply to

    RAS facts as of today -

    by sme20_98 Aug 20, 2015 8:13 PM
    sme20_98 sme20_98 Aug 21, 2015 12:39 PM Flag

    In addition to my previous comments, the only 8 million dollar "adjustment" as you would call it that I see in the financial statements for the quarter is for the change in fair value. As I stated, RAS has Taberna debacle behind them, and it is nice to see their investments now gaining in value. If you were willing to say the negative changes to to Taberna mattered negatively, then isn't it fair to include the positive increases now as a positive instead of just discounting them? Seems like you want to make the numbers work for your negative mindset only and not care about presenting the factual picture as of today. If it's all the same to you, I'm sticking with the facts.

  • Reply to

    RAS facts as of today -

    by sme20_98 Aug 20, 2015 8:13 PM
    sme20_98 sme20_98 Aug 21, 2015 12:09 PM Flag

    Dilution Factor??? I'll just stop right there. Again just the facts of what has happened, not what you feel might happen. By the way, the market reaction to the stock price has NO impact on the BV of the companies assets.( unless of course they are invested in themselves which is not the case. Capital raise as I said, per the company was for investment in a high return lending company assets where i do believe their goal was to obtain a return north of 18%. You keep saying you don't care about book value, but all you do is whine about the issuance. Take the market's actions and use it to your benefit before it is too late and a dividend raise and another great quarter are announced . I believe they have already estimated CAD of between 26 and 27 cents. So I guess they found replacement income for that Texas property. All factual comments from what has been released by the company--not my impressions or feelings. No room for your emotions in investing. Go forward with the facts that are in front of your eyes.

    Sentiment: Strong Buy

  • Reply to

    I begin to think

    by jrfillion Aug 20, 2015 1:57 PM
    sme20_98 sme20_98 Aug 21, 2015 8:18 AM Flag

    I use the latest quarter to document what i think reality is going forward for this stock. Management delivered exactly as planned and stated(estimated). What happenned three, five years ago would only matter if the company was going in the same direction. They clearly are not. The new share issue represented part of a new investment in a lending company with a high ROE according to investor relations. If they were repeating the past I would agree with you. But the last quarter with CAD of 21 cents(I know it was 37 cents, but 16 was from property gains) and 2 cents GAAP earnings( a positive GAAP number hasn't been seen by this company in how long--and again I know it was 21 cents but that was also the property sale). If they see fit to raise the dividend next quarter--they certainly have the annualized CAD to do so-- and earnings continue to be positive as they are finally trending, PPS will follow

    Sentiment: Strong Buy

  • No bashing, no finger pointing--just factual statements.
    1. RAS has floundered the last few years due to a poor investment in Taberna securitizations which as of the December quarter, the have put behind them.
    2. RAS in combination with their IRT position have built a formitable investment in multi-family properties on which strong rental income and capital gains from sales can materialize due to the strong demand for such in the market. Rental rates on properties held are increasing every qtr due to their demand.
    3. The share offering that occurred after the fantastic qtr of reported earnings was dilutive, but by less than 2% of BV and was used as an investment, per investor relations, in a high ROE lending business . Isn't this what management is supposed to do for us, find new opportunities for earnings--less than 2% really was not that big a deal--you can squawk about it all you want, but it really didn't cost that much versus the return it will create--it's impact has really been overblown on this board--fact--less than 2%.
    4. CAD and GAAP income are on the rise.

    Enough said--all factual, no estimates or fingerpointing.

    Sentiment: Strong Buy

  • Reply to

    mr foulger is very sensitive

    by alankane77 Aug 19, 2015 2:07 PM
    sme20_98 sme20_98 Aug 20, 2015 3:37 PM Flag

    Completely understand your comments, would only correct that the stock issuance they did did not change book value by very much at all--certainly not 10%. It was actually about 10 cents in total to adjusted book value or about 1.6%--not really the big deal it has been made out to be by the market and this board. Good luck with RSO.

    Sentiment: Strong Buy

  • Reply to

    mr foulger is very sensitive

    by alankane77 Aug 19, 2015 2:07 PM
    sme20_98 sme20_98 Aug 20, 2015 7:49 AM Flag

    I am glad to see that you can only comment negatively on the past of RAS. I am invested in them because of their last qtr and the future of this company. Significant holdings and investments in multifamily real estate which is skyrocketing in demand and now short in supply--great assets to be owning and looking to leverage. Taberna debacle expensed and behind them thus clearing the way for increasing CAD and GAAP earnings. Thanks to the shorts for giving us one last shot at this company before it takes off--the analysts at ZACKS have clearly noted it , only a matter of time now.

    Sentiment: Strong Buy

  • Reply to

    BOOK VALUE

    by muckahoy88 Aug 13, 2015 4:44 PM
    sme20_98 sme20_98 Aug 14, 2015 7:39 AM Flag

    Your clear and complete misunderstanding of something as basic as BV and some of your other comments document a clear misunderstanding of basic investing concepts. My comment wasn't to insult you. Sorry if you took it that way--it was merely a suggestion based on what i have read coming out of your comments. I don't have to be a DF follower to have made the comments I have made. All of my comments have been factual and based upon management documented comments and DF or not, I am comfortable that if RAS continues to deliver as they have these past two quarters post Taberna, the PPS will be much higher than it is today. Those are the facts. You are either a last desperate attempt at a calculated short and know perfectly well what you are doing or you are clueless to investing--I'm not quite sure, but other readers deserve to know the facts and not your deal with just your endless rants.

    Sentiment: Strong Buy

  • Reply to

    BOOK VALUE

    by muckahoy88 Aug 13, 2015 4:44 PM
    sme20_98 sme20_98 Aug 13, 2015 6:36 PM Flag

    Sorry, just had to comment--YOU shouldn't be investing at all.

  • Reply to

    Here's what REALLY happened

    by sme20_98 Aug 13, 2015 12:01 PM
    sme20_98 sme20_98 Aug 13, 2015 3:09 PM Flag

    Nice talking to you shorty, man you sound like a two year old who had their toys taken away from them, ranting non factual #$%$ all over the place. DF clone?? That's precious and so original and so doesn't prove any of your points yet again. Done in this space--See you in December or wait?? probably not. Good luck muckster!

    Sentiment: Strong Buy

  • BV was only diluted by about 10 cents. Because the market reacted irrationally to the issuance is not the fault of management. Yes, i too , want to know that they had a good use for those funds and i trust that they did--just as i trust they will continue to drive earnings and CAD upwards with the investment decisions they are currently making. They are right on their CAD projections and if they continue to deliver on them as they have already forecast for the third qtr(26 to 27 cents CAD), then the door is open for dividend increases and along with it the PPS will increase as well. See the opportunity they have handed you not just the temporary negative--unless of course you are short, then congrats, but I think it might be getting close to time to cover.

    Sentiment: Strong Buy

  • Reply to

    here's what happened

    by muckahoy88 Aug 13, 2015 9:11 AM
    sme20_98 sme20_98 Aug 13, 2015 9:31 AM Flag

    Unless you know for what and how they used it, it is impossible for you to judge. A temporary market reaction is no reason to blame management if they made good use of the funds. Once the market understands better, it will rebound--now it is uncertainty and the market does not like that. If you believe in company management use it as a spot to steal shares at a ridiculously low price. For those of us who did not sell, it hasn't cost me anything yet--as a matter of fact I was able to average down nicely on this over reaction. IMHO, as soon as the dividend is announced--even at the same level, the share price will recover more towards book value, which is still about $6.17 a share. Patience is needed now.

    Sentiment: Strong Buy

  • Reply to

    JC has come down from heaven to teach us

    by muckahoy88 Aug 7, 2015 4:19 PM
    sme20_98 sme20_98 Aug 13, 2015 8:11 AM Flag

    Wow! You carry alot of baggage from your exchanges with DF. I am a significant holder of RAS at this point and the reasons are simple. The last two qtrs of earnings have been extremely improved since they exited the Taberna debacle that had been haunting them for years. CAD is slowly increasing protecting the current dividend and when they do asset sales like the one they did in the second qtr, it even allows for a dividend increase or a special dividend going forward. The company issued CAD guidance of approx. .90 to 1.20 and if they hit those numbers, and so far they are easily on target to do so, a dividend increase in some form will occur. Their payout has been in the 75% range and CAD so far in 2 qtrs has been 57 cents. That would enable a 43 cents dividend and they paid 36 cents, so excess is building. I know the property sale was a big part of that, but that is part of the business. To ignore it would be ignorant to the facts. Even if CAD was a flat 21 cents for each of the next two qtr's, the dividend now would be adequately covered. Enough of this nonsense that the dividend might be cut. New fees from what is happening at IRT only adds to the mix. So in not so short(sorry), I will defer to managements expertise as to why they needed to do an 8 million share raise at that point--it is not enough to change any of the future I just laid out for you in my opinion and not just DF's. RAS is a strong buy at these levels until something happens to impact the above. By the way, I think guidance for the current qtr was 26 to 27 cents CAD--that would equate to a 19 or 20 cent dividend.

    Sentiment: Strong Buy

  • Reply to

    is RAS worth $5.34 per share?

    by frontlineinw Aug 11, 2015 3:51 PM
    sme20_98 sme20_98 Aug 12, 2015 7:47 AM Flag

    One major problem with your BV calculation of $5.72.--you forgot to add in the proceeds from the 8 million share sale --i think they said they netted about $42 million, making adjusted BV about $6.18 a share. Yes,shares were sold at a major discount--i hope to soon hear why from the company, but in the mean time get the facts right--BV is significantly higher than market right now and and based on the last quarter earnings it makes no sense at all. IMHO it will correct very shortly.

    Sentiment: Strong Buy

  • sme20_98 sme20_98 Aug 12, 2015 7:33 AM Flag

    Your right, but in this market you can't be sure of anything. No matter the PPS, earnings were great, dividend is covered, and NAV is strong in the mid 14's--great place to be.

    Sentiment: Strong Buy

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