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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 (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.
New York Mortgage Trust (NYMT) has announced the pricing of a $60 million public offering of 9.125% senior notes due in 2029. Underwriters have a 30-day option to purchase an additional $9 million. The offering is expected to close on June 28, 2024, subject to customary conditions. NYMT plans to list the notes on Nasdaq under the symbol 'NYMTI' within 30 days of issuance. The proceeds will be for general corporate purposes, including acquiring targeted assets. The notes are unsecured and will pay quarterly interest, starting October 1, 2024, maturing on July 1, 2029, with optional redemption starting July 1, 2026.
New York Mortgage Trust (NYSE: NYMT) announced on June 18, 2024, that its Board of Directors declared a regular quarterly cash dividend of $0.20 per share on its common stock for Q2 2024. The dividend is payable on July 29, 2024, to shareholders recorded by June 28, 2024.
Additionally, the Board declared dividends on four series of preferred stocks: Series D ($0.50), Series E ($0.4921875), Series F ($0.4296875), and Series G ($0.4375). These dividends cover the period from April 15 to July 14, 2024, and are payable on July 15, 2024, to preferred shareholders recorded by July 1, 2024.
New York Mortgage Trust, Inc. (NYMT) reported a net loss of $(68,340) for the first quarter of 2024, with a net loss per share of $(0.75). The company also saw a comprehensive loss of $(68,336) per share. Despite challenges in the JV Equity portfolio, the company remains optimistic about fixed income investments like short-duration mortgage credit and Agency RMBS. Key developments include investing in Agency RMBS and residential loans, as well as completing a securitization of business purpose loans. The CEO expects slow-to-moderate growth for the rest of the year with an increasing risk of recession.
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