New York Mortgage Trust Declares First Quarter 2024 Common Stock Dividend of $0.20 Per Share, and Preferred Stock Dividends
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Insights
The declaration of a regular quarterly cash dividend by New York Mortgage Trust represents a commitment to shareholder returns, signaling confidence in the company's earnings stability. The specified dividend of $0.20 per share on common stock is a critical figure for investors, as it influences the dividend yield, a key metric used to evaluate the attractiveness of a stock for income-focused portfolios.
Furthermore, the declaration of dividends on the Series D, E, F and G Preferred Stocks, with varying rates, showcases the company's capital structure strategy. Preferred stock dividends are often seen as a hybrid between debt and equity, providing a fixed-income like payout while still being part of the equity capital. The different rates reflect the hierarchy of payment and risk associated with each series.
Investors may also interpret these declarations as a signal of the company's financial health. Companies that consistently pay dividends are often perceived as more stable and less volatile, which can be particularly appealing during uncertain economic conditions. However, it is essential to analyze the payout ratio to ensure that the dividends are sustainable and not compromising the firm's long-term growth potential.
The real estate investment trust (REIT) sector, where New York Mortgage Trust operates, is sensitive to interest rate fluctuations. Dividend announcements from REITs are scrutinized in the context of current interest rate trends and housing market dynamics. The consistency of dividend payments can be a barometer for the REIT's operational performance, especially when considering the fixed-income nature of Series D, E, F and G Preferred Stocks.
Analysts and investors often use these dividends as a measure of a REIT's ability to generate cash flow from its operations, particularly from mortgage holdings and interest income. It is pertinent to assess the impact of these dividends on the company's cash reserves and borrowing costs, as REITs typically leverage to finance property acquisitions and operations.
Given the competitive landscape of the mortgage investment market, the announced dividends could also reflect the company's position relative to its peers. A comparison of dividend yields and growth rates with other REITs can provide a more comprehensive understanding of the company's performance and prospects.
From an economic perspective, the dividend announcement by New York Mortgage Trust must be contextualized within the broader macroeconomic environment. Dividends are often seen as a distribution of profits back to shareholders and their sustainability is closely tied to economic factors such as interest rates, inflation and housing market trends.
As a REIT, New York Mortgage Trust's ability to maintain and potentially increase dividends over time is influenced by the health of the housing market and the cost of borrowing. For instance, rising interest rates can increase borrowing costs for REITs, which may pressure their margins and ability to maintain dividend levels. Conversely, a stable or declining rate environment can be beneficial for mortgage REITs.
Investors looking at the long-term implications of this dividend announcement should consider the Federal Reserve's monetary policy trajectory, housing market indicators and inflationary pressures, as these will play a significant role in the company's operational efficiency and profitability.
NEW YORK, March 13, 2024 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”) announced today that its Board of Directors (the “Board”) declared a regular quarterly cash dividend of
In addition, the Board declared cash dividends on the Company’s
Quarterly Preferred Stock Dividends
The Board declared cash dividends for the dividend period that began on January 15, 2024 and ends on April 14, 2024 as follows:
| Class of Preferred Stock | Series D | Series E | Series F | Series G | ||||
| Record Date | April 1, 2024 | April 1, 2024 | April 1, 2024 | April 1, 2024 | ||||
| Payment Date | April 15, 2024 | April 15, 2024 | April 15, 2024 | April 15, 2024 | ||||
| Cash Dividend Per Share | ||||||||
About New York Mortgage Trust
New York Mortgage Trust, Inc. is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes. NYMT is an internally managed REIT in the business of acquiring, investing in, financing and managing primarily mortgage-related single-family and multi-family residential assets.
Forward-Looking Statements
When used in this press release, in future filings with the Securities and Exchange Commission (the “SEC”) or in other written or oral communications, statements which are not historical in nature, including those containing words such as “will,” “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “could,” “would,” “should,” “may” or similar expressions, are intended to identify “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 (the “Exchange Act”), and, as such, may involve known and unknown risks, uncertainties and assumptions. Statements regarding the following subject, among others, may be forward-looking: the payment of dividends.
Forward-looking statements are based on estimates, projections, beliefs and assumptions of management of the Company at the time of such statements and are not guarantees of future performance. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. Actual results and outcomes could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation: changes in the Company’s business and investment strategy; inflation and changes in interest rates and the fair market value of the Company’s assets, including negative changes resulting in margin calls relating to the financing of the Company’s assets; changes in credit spreads; changes in the long-term credit ratings of the U.S., Fannie Mae, Freddie Mac, and Ginnie Mae; general volatility of the markets in which the Company invests; changes in prepayment rates on the loans the Company owns or that underlie the Company’s investment securities; increased rates of default, delinquency or vacancy and/or decreased recovery rates on or at the Company’s assets; the Company’s ability to identify and acquire targeted assets, including assets in its investment pipeline; the Company's ability to dispose of assets from time to time on terms favorable to it, including the disposition over time of its joint venture equity investments; changes in relationships with the Company’s financing counterparties and the Company’s ability to borrow to finance its assets and the terms thereof; changes in the Company's relationships with and/or the performance of its operating partners; the Company’s ability to predict and control costs; changes in laws, regulations or policies affecting the Company’s business; the Company’s ability to make distributions to its stockholders in the future; the Company’s ability to maintain its qualification as a REIT for federal tax purposes; the Company’s ability to maintain its exemption from registration under the Investment Company Act of 1940, as amended; impairments in the value of the collateral underlying the Company's investments; the Company's ability to manage or hedge credit risk, interest rate risk, and other financial and operational risks; the Company's exposure to liquidity risk, risks associated with the use of leverage, and market risks; and risks associated with investing in real estate assets, including changes in business conditions and the general economy, the availability of investment opportunities and the conditions in the market for Agency RMBS, non-Agency RMBS, ABS and CMBS securities, residential loans, structured multi-family investments and other mortgage-, residential housing- and credit-related assets.
These and other risks, uncertainties and factors, including the risk factors and other information described in the Company’s reports filed with the SEC pursuant to the Exchange Act, could cause the Company’s actual results to differ materially from those projected in any forward-looking statements the Company makes. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time and it is not possible to predict those events or how they may affect the Company. Except as required by law, the Company is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For Further Information
AT THE COMPANY
Investor Relations
Phone: 212-792-0107
Email: InvestorRelations@nymtrust.com
FAQ
What is the dividend amount per share declared by New York Mortgage Trust, Inc. for the quarter ending March 31, 2024?
When will the dividend be payable to common stockholders?
What are the cash dividend amounts per share for New York Mortgage Trust, Inc.'s preferred stocks?
