Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of New York Mortgage Trust's Sloan Ratio %
For the REIT - Mortgage subindustry, New York Mortgage Trust's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
New York Mortgage Trust's Sloan Ratio % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, New York Mortgage Trust's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where New York Mortgage Trust's Sloan Ratio % falls into.
New York Mortgage Trust Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
New York Mortgage Trust's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
New York Mortgage Trust's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 20.863 (Mar. 2023 ) + -26.928 (Jun. 2023 ) + -84.509 (Sep. 2023 ) + 41.908 (Dec. 2023 ) = $-48.67 Mil.
New York Mortgage Trust's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was -11.404 (Mar. 2023 ) + -0.101 (Jun. 2023 ) + 28.379 (Sep. 2023 ) + 13.079 (Dec. 2023 ) = $29.95 Mil.
New York Mortgage Trust's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was 57.065 (Mar. 2023 ) + -121.259 (Jun. 2023 ) + -758.346 (Sep. 2023 ) + -397.391 (Dec. 2023 ) = $-1,219.93 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
New York Mortgage Trust (NAS:NYMTO.PFD) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Dec. 2023, New York Mortgage Trust has a Sloan Ratio of 15.42%, indicating there is a warning stage of accrual build up.
New York Mortgage Trust Sloan Ratio % Related Terms
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New York Mortgage Trust (New York Mortgage Trust) Business Description
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.
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