Apollo Residential Mortgage Inc
Apollo Residential Mortgage — Q3 2015 Earnings Presentation
20 slides from Apollo Residential Mortgage's earnings presentation, Nov 6, 2015
Slide 1: Supplemental Financial Information Package – Q3 2015
Information is as of September 30, 2015, except as otherwise noted. It should not be assumed that investments made in the future will be profitable or will equal the performance of investments in this document. Supplemental Financial Information Package – Q3 2015 November 6, 2015 Exhibit 99.2
Slide 2: Forward Looking Statements and Other Disclosures
Forward Looking Statements and Other Disclosures Certain statements contained in this presentation may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and Apollo Res
Slide 3: AMTG Q3 2015 Earnings Call
November 6, 2015 Michael A. Commaroto Chief Executive Officer Teresa D. Covello Chief Financial Officer Keith Rosenbloom Agency Portfolio Manager Paul Mangione Non-Agency Portfolio Manager Hilary Ginsberg Investor Relations Manager AMTG Q3 2015 Earnings Call
Slide 4: Third Quarter 2015 Summary Highlights
Third Quarter 2015 Summary Highlights Reported Operating Earnings of $17.4 million, or $0.54 per share of common stock for the third quarter of 2015(1) Declared a $0.48 per share of common stock quarterly dividend for stockholders of record as of September 30, 2015 Book value per share of common sto
Slide 5: Financial Summary
Financial Summary Operating Earnings and Operating Earnings per share of common stock are non-GAAP financial measures. Operating Earnings and Operating Earnings per share of common stock presented exclude, as applicable: (i) certain realized and unrealized gains and losses recognized through earning
Slide 6: Financial Summary
Financial Summary Operating Earnings per Share of Common Stock(1) Dividends per Share of Common Stock Book Value per Share of Common Stock Operating Earnings and Operating Earnings per share of common stock are non-GAAP financial measures. Operating Earnings and Operating Earnings per share of commo
Slide 7: Book Value Roll Forward
Book Value Roll Forward Book Value - June 30, 2015 $18.31 Common stock dividend declared (0.48) Operating Earnings, net of preferred dividend 0.54 Non-Operating Items Impacting Net Income: Rates: Changes in unrealized gain on Agency RMBS, net 0.47 Realized (loss) on sales of Agency RMBS, net (0.02)
Slide 8: Portfolio Summary and Net Interest Spread
Portfolio Summary and Net Interest Spread Allocation of Portfolio Equity at September 30, 2015(1) Effective Net Interest Spread at September 30, 2015(2) Percentages reflect amount of equity allocated to Agency RMBS, non-Agency RMBS and other credit investments and securitized mortgage loans, net of
Slide 9: Agency RMBS Portfolio Overview
Agency RMBS Portfolio at September 30, 2015 Agency RMBS Portfolio Overview Constant Prepayment Rates (“CPR”) Other includes RELO 30-year pass-throughs, Agency interest only securities (“Agency IO”) and Agency inverse IO securities (“Agency Inverse IO”).
Slide 10: Agency RMBS Portfolio Composition Summary
Agency RMBS Portfolio at September 30, 2015 Agency RMBS Portfolio Composition Summary Amortized cost is reduced by unrealized losses that are classified as other-than-temporary impairments. Estimated weighted average yield at the date presented incorporates prepayment assumptions and forward interes
Slide 11: Non-Agency RMBS Portfolio Overview
Non-Agency RMBS Portfolio at September 30, 2015 Non-Agency RMBS Portfolio Overview(1) Non-Agency RMBS Portfolio Vintage (1) Non-Agency RMBS Cash-Flow Profile(1) Includes $60.0 million of small balance commercial mortgage backed securities, $95.1 million of Agency risk sharing securities and $3.0 mil
Slide 12: Non-Agency RMBS Portfolio
Non-Agency RMBS Portfolio at September 30, 2015 (1) Credit enhancement is expressed as a percentage of all outstanding mortgage loan collateral. The Company's non-Agency RMBS may incur losses if credit enhancement is reduced to zero. (2) CRR represents conditional repayment rate. Information is base
Slide 13: Financing and Derivative Instruments Overview
Financing and Derivative Instruments Overview Borrowings at September 30, 2015 Derivative Instruments at September 30, 2015 Swaps Overview at September 30, 2015 Includes $91,758 of repurchase borrowings collateralized by non-Agency RMBS of $125,948 that were eliminated from the Company’s consolidate
Slide 14: Swaptions Overview
Swaptions Overview Purchase Contract Swaptions Overview at September 30, 2015 Sale Contract Swaptions Overview at September 30, 2015 ($ in thousands) Purchase Contracts: Weighted Average Weighted Weighted Fixed Pay Months Until Average Average Rate for Premium Option Notional Swap Term Fixed-Pay Und
Slide 15: Financials
Financials
Slide 16: Consolidated Balance Sheet
[in thousands except share and per share data) wher 30,2015 December 31, 2014 (unaudited) ony at caheg 101ss2 1448 aenere 69,662 69,006 327,09 3,755,632 value 173322, 1438 respectively) 102,722 34228 Other investments r 40,561, Mortgage ba tively) : 14,20 6225 191,455 pooner 10,108 10455, 1,633 el 5
Slide 17: Consolidated Statements of Operations
“Three Months Baded ‘Nine Months Ended (in shousands—exeept per share date) Seytember 30, September 30, 201s 2018 2015 2014 Interest Income: Casati Tanda RMBS s Maat S627 105753 S 108053 Seeuritized mortgage loans 1s 9.805 044 Other 304 630 BRS 127, T4863 cre ore tae sens 7814) 31) i214) Scctried 39
Slide 18: Reconciliation of Operating Earnings
Reconciliation of Operating Earnings(1) Operating Earnings and Operating Earnings per share of common stock are non-GAAP financial measures. Operating Earnings and Operating Earnings per share of common stock presented exclude, as applicable: (i) certain realized and unrealized gains and losses reco
Slide 19: Reconciliation of Operating Earnings
Reconciliation of Operating Earnings(1) Operating Earnings and Operating Earnings per share of common stock are non-GAAP financial measures. Operating Earnings and Operating Earnings per share of common stock presented exclude, as applicable: (i) certain realized and unrealized gains and losses reco
Slide 20: Contact Information
Contact Information Hilary Ginsberg Investor Relations Manager 212-822-0767
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