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New York Mortgage Trust, Inc. (NYSE: NYMT) is a prominent real estate investment trust (REIT) dedicated to acquiring, investing in, financing, and managing mortgage-related and residential housing-related assets across the United States. Established in 2003, the company has garnered a reputation for its diversified investment portfolio, which encompasses a variety of structured multi-family property investments, residential mortgage loans, and securities.
NYMT's core investments include:
- Structured Multi-Family Property Investments: This category features multi-family commercial mortgage-backed securities (CMBS), preferred equity, and mezzanine loans to owners of multi-family properties.
- Residential Mortgage Loans: This segment involves distressed residential mortgage loans, non-qualified mortgage (non-QM) loans, second mortgages, residential bridge loans, and other residential mortgage loans.
- Non-Agency RMBS: These are residential mortgage-backed securities that are not guaranteed by government-sponsored enterprises.
- Agency RMBS and CMBS: These mortgage-backed securities are guaranteed by government-sponsored entities, ensuring a relatively stable investment.
- Other Mortgage-Related Assets: NYMT also invests in various other mortgage-related, residential housing-related, and credit-related assets to diversify its portfolio further.
As a REIT, New York Mortgage Trust, Inc. is required to distribute at least 90% of its taxable income to its stockholders, thereby avoiding federal corporate income taxes. The company is committed to providing value to its investors through strategic capital allocation and a focus on high-quality assets.
NYMT's recent achievements and current projects highlight its robust financial health and strategic growth. The company has successfully navigated market fluctuations and continues to expand its portfolio to include high-yield, risk-adjusted assets. With a strong management team and a clear vision, New York Mortgage Trust, Inc. remains a significant player in the U.S. real estate investment landscape.
New York Mortgage Trust (NYMT) has reported its Q4 and full-year 2024 results, highlighting significant portfolio growth and strategic investments. In Q4 2024, the company purchased $362.8 million of Agency RMBS with a 5.55% average coupon and $542.3 million of residential loans with a 9.37% average coupon.
For full-year 2024, NYMT acquired $2.2 billion in investment securities, including $1.5 billion of Agency RMBS (5.69% average coupon) and $1.9 billion of residential loans (9.93% average coupon). The company completed five residential loan securitizations, generating $1.3 billion in net proceeds. Additionally, NYMT sold three multi-family apartment communities, resulting in a $12.3 million net gain.
The company also issued $60 million of 9.125% Senior Notes due 2029 and repurchased 587,347 shares at an average price of $5.95. In early 2025, NYMT issued $82.5 million of 9.125% Senior Notes due 2030 and extended its stock repurchase programs to March 2026.
New York Mortgage Trust (NYMT) has released its tax treatment details for 2024 dividend distributions. The company paid quarterly common stock dividends of $0.20 per share, totaling $1.00 for the year. The January 2025 distribution will be treated as a 2025 distribution for tax purposes.
For preferred stocks, the company distributed: Series D (8.000%) - $2.00 per share annually, Series E (7.875%) - $1.97 per share annually, Series F (6.875%) - $1.72 per share annually, and Series G (7.000%) - $1.75 per share annually. No portion of the 2024 distributions is expected to consist of excess inclusion income.
New York Mortgage Trust (NYMT) has announced its schedule for the 2024 fourth quarter financial results conference call. The company will release its financial results for both the three and twelve months ended December 31, 2024, after market close on February 19, 2025.
The executive management will host a conference call and audio webcast the following day on Thursday, February 20, 2025, at 9:00 a.m. Eastern Time. Interested participants must pre-register to receive dial-in details. Additionally, a live audio webcast will be accessible through the company's Investor Relations website section at www.nymtrust.com.
The webcast replay will be made available approximately two hours after the call concludes and will remain accessible for 12 months through the company's Investor Relations website section.
New York Mortgage Trust (NYMT) has announced the pricing of an underwritten public offering of $75 million in 9.125% senior notes due 2030. The company has granted underwriters a 30-day option to purchase an additional $11.25 million to cover over-allotments.
The notes will be listed on Nasdaq under symbol NYMTG, with trading expected to begin within 30 days of issuance. The offering is set to close on January 14, 2025. Interest will be paid quarterly starting April 1, 2025, and notes can be redeemed after April 1, 2027.
Proceeds will be used for general corporate purposes, including acquiring single-family and multi-family residential assets, mortgage-related assets, and working capital. Morgan Stanley, Piper Sandler, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities are acting as joint book-running managers.
New York Mortgage Trust (NYMT) has announced its dividend distributions for Q4 2024. The company declared a quarterly cash dividend of $0.20 per share on common stock, payable on January 23, 2025, to stockholders of record as of December 20, 2024.
Additionally, the Board declared preferred stock dividends for the period from October 15, 2024, to January 14, 2025: Series D at $0.50, Series E at $0.4921875, Series F at $0.4296875, and Series G at $0.4375 per share. All preferred dividends will be paid on January 15, 2025, to shareholders of record as of January 1, 2025.
New York Mortgage Trust (Nasdaq: NYMT) reported its Q3 2024 results, highlighting a net income of $32.4 million or $0.36 per share. The company achieved undepreciated earnings of $34.9 million or $0.39 per share. Net interest income was $20.2 million with a net interest spread of 1.32%. The book value per share stood at $9.83, with an adjusted book value of $10.87. Key developments included selling two multi-family apartment communities generating $10.2 million in net gains and purchasing $372.2 million in Agency RMBS and $624.2 million in residential loans. Financing activities included a securitization of business purpose loans yielding $235.8 million in net proceeds and a re-securitization of subordinated securities generating $73.0 million. CEO Jason Serrano emphasized a deliberate approach to balance sheet growth and a focus on high-recurring interest income acquisitions.
New York Mortgage Trust (Nasdaq: NYMT) has announced its schedule for reporting 2024 third quarter financial results. The company will release its financial results for the three and nine months ended September 30, 2024, after market close on October 30, 2024.
A conference call and audio webcast hosted by the company's executive management will take place on Thursday, October 31, 2024, at 9:00 a.m. Eastern Time. Interested parties can pre-register for the conference call using a provided link to receive dial-in details. Additionally, a live audio webcast will be accessible through the Investor Relations section of the company's website at www.nymtrust.com.
A webcast replay of the conference call will be available on the company's website approximately two hours after the call and will remain accessible for 12 months.
New York Mortgage Trust (Nasdaq: NYMT) has announced its dividend declarations for the third quarter of 2024. The company's Board of Directors has declared a regular quarterly cash dividend of $0.20 per share on common stock, payable on October 28, 2024, to stockholders of record as of September 30, 2024.
Additionally, the Board has declared cash dividends on the company's preferred stock series:
- Series D: $0.50 per share
- Series E: $0.4921875 per share
- Series F: $0.4296875 per share
- Series G: $0.4375 per share
These preferred stock dividends cover the period from July 15, 2024, to October 14, 2024, with a record date of October 1, 2024, and a payment date of October 15, 2024.
New York Mortgage Trust (Nasdaq: NYMT) reported Q2 2024 results with a net loss of $26.03 million or $0.29 per share. Adjusted book value per share was $11.02. Economic return on book value was -3.13%. Interest income reached $90.78 million, while interest expense stood at $71.73 million, resulting in net interest income of $19.04 million and a net interest spread of 1.33%. Dividends declared were $0.20 per common share.
Key activities included the purchase of $467.5 million in Agency RMBS and $420.7 million in residential loans. The company completed a business loan securitization generating $241.6 million in net proceeds and repurchased 587,347 shares at $5.95 per share. Additionally, NYMT issued $60 million of 9.125% senior notes due 2029.
CEO Jason Serrano noted a 63% YoY increase in adjusted interest income to $84 million, reflecting the company's strategy to enhance recurring income and maintain liquidity to capitalize on market opportunities.
New York Mortgage Trust (Nasdaq: NYMT) has announced its upcoming 2024 Second Quarter Conference Call, scheduled for Thursday, August 1, 2024, at 9:00 a.m. Eastern Time. The company will report its financial results for the three and six months ended June 30, 2024 after market close on July 31, 2024.
Interested parties can pre-register for the conference call using a provided link, which will furnish dial-in details. Additionally, a live audio webcast will be accessible through the company's website or a direct link. A replay of the webcast will be available on the Investor Relations section of NYMT's website for 12 months following the call.
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