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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 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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