Adjusted net interest income per share rose 10% quarter-over-quarter and 47% year-over-year to $0.44 per share.
GAAP book value and adjusted book value per share decreased to $9.11 and $10.26 respectively, representing a 2.8% and 1.6% decrease compared to March 31.
Net interest spread increased to 150 basis points from 132 basis points in the first quarter, driven by a 17 basis point reduction in average financing costs.
Net loss from real estate increased slightly to $3 million due to higher operating expenses.
NYMT reported strong second quarter performance with Earnings Available for Distribution (EAD) surpassing the current common dividend by $0.02, reaching $0.22 per share, a 10% increase quarter-over-quarter.
Realized net losses of approximately $3.8 million were mostly offset by reversals of previously recognized unrealized losses.
Recorded $24.6 million in net unrealized gains mainly from Agency RMBS and residential loan portfolios, offset by $36.3 million in unrealized losses on derivative instruments.
Recourse leverage ratio increased to 3.8x from 3.4x, primarily due to financing activity supporting Agency RMBS acquisitions.
Average loan yields increased to 5.93%, driven by higher-yielding loan categories and a 7.29% average rate on new loan production.
Banc of California reported net income of $18.4 million or $0.12 per share and adjusted net income of $48.4 million or $0.31 per share for Q2 2025.
Credit quality improved with declines in nonperforming loans, classified loans, and special mention loans as a percentage of total loans by 19, 46, and 115 basis points respectively.
Net charge-offs excluding loan sale impacts were 12 basis points of loans.
Net interest income increased 3.4% quarter-over-quarter to $240 million, with net interest margin expanding to 3.10%.
Noninterest expense was $185.9 million, slightly up from Q1 but below the target range of $190 million to $195 million per quarter.
Noninterest income was $32.6 million, down 3% from the prior quarter due to mark-to-market fluctuations on CRA-related equity investments and credit-linked notes.
Pretax pre-provision income grew 6% quarter-over-quarter driven by solid revenue growth outpacing a slight increase in expenses.
Tangible book value per share grew for the fifth consecutive quarter to $16.46.
Total annualized loan growth was 9%, supported by broad-based commercial loan production and loan originations of $1.2 billion, the highest since the merger.
BXP reported funds from operations (FFO) of $1.71 per share for Q2 2025, beating the midpoint of guidance by $0.05 and consensus by $0.04, driven by improved operations across the portfolio.
BXP's total portfolio occupancy ended Q2 at 86.4%, a decline of 50 basis points, impacted by lease expirations and early terminations, partially offset by improvements at other properties.
Development portfolio lease percentage increased by 500 basis points to 67% in Q2.
Leasing volume for Q2 was over 1.1 million square feet, with total leasing in 2025 reaching 2.2 million square feet, 18% higher than the prior four quarters.
Lower expenses were due to reduced real estate taxes from negotiated assessed value reductions and lower G&A expenses from capitalized wages and professional fee savings.
Outperformance contributors included $0.04 from portfolio operations, $0.01 from earlier-than-anticipated revenue recognition, $0.01 from higher service income primarily in Boston and New York, and $0.02 from lower operating expenses.
The total portfolio percentage leased was 89.1%, a slight decline of 30 basis points, with a growing gap between leased and occupied space now at 270 basis points.
AFFO was $0.41 per share for the quarter and $0.84 year-to-date, also on track relative to full year guidance of $1.58 to $1.64 per share.
Blended rent growth was 4% in Q2, driven by 4.7% renewal rent growth and 2.2% growth in new leases.
Invitation Homes reported second quarter core FFO of $0.48 per share and year-to-date core FFO of $0.97 per share, tracking well against full year guidance of $1.88 to $1.94 per share.
July preliminary results showed same-store average occupancy at 96.6%, renewal lease rate growth at 5%, and new lease rate growth at 1.3%, with blended lease rate growth of 3.8%.
Liquidity remained robust with approximately $1.3 billion in unrestricted cash and undrawn revolving credit capacity.
Net debt to trailing 12-month adjusted EBITDA ratio was 5.3x, slightly below the target range of 5.5 to 6x.
Over 83% of debt is unsecured and nearly 88% is fixed rate or swapped to fixed rate, with a total swap book over $2 billion at a weighted average strike rate just over 3%.
Same-store core revenue grew 2.4% year-over-year, with core operating expenses rising 2.2%, resulting in 2.5% NOI growth.
Dafinchi