Welcome to our dedicated page for New York Mortgage Trust news (Ticker: NYMT), a resource for investors and traders seeking the latest updates and insights on New York Mortgage Trust stock.
Adamas Trust, Inc., formerly New York Mortgage Trust, reports developments tied to its internally managed REIT platform for mortgage-related residential assets. The company acquires, invests in, finances and manages primarily single-family and multi-family residential assets, and its news commonly covers quarterly results, common and preferred stock dividends, portfolio positioning, Agency RMBS exposure and financing actions.
Company updates also include its completed rebrand from NYMT to ADAM and the completed acquisition of Constructive Loans, LLC, an originator of business purpose loans for residential real estate investors that operates as a subsidiary. Other recurring themes include senior notes, consent solicitations, shareholder voting matters, capital-structure disclosures and governance updates.
New York Mortgage Trust (NYSE: NYMT) declared a quarterly cash dividend of $0.05 per share, payable on July 27, 2020. The record date for this dividend is July 1, 2020. Additionally, the Board reinstated dividends on several series of preferred stock, including Series B and Series C, with respective payments on July 15, 2020. The declared amounts for preferred stock dividends per share are $0.484375 for Series B, $0.4921875 for Series C, and $0.50 for Series D.
New York Mortgage Trust (NYMT) reported a significant net loss of $598,680,000 for Q1 2020, translating to a loss per share of $1.71. The company faced unprecedented market conditions due to the COVID-19 pandemic, leading to substantial asset sales totaling $2 billion, including $555.2 million in multi-family POs. These actions resulted in a 33% decline in book value, now at $3.89 per share. Despite these challenges, NYMT ended the quarter with $200 million in cash and a reduced portfolio leverage ratio of 0.7. Quarterly dividends were suspended, reflecting the severe market disruptions.
New York Mortgage Trust, Inc. (Nasdaq: NYMT) is set to announce its financial results for Q1 2020 on May 21, 2020, post-market close. Following this, an audio conference call will occur on May 22, 2020, at 9:00 a.m. ET. Investors can participate via a dial-in number or through a live webcast on the company's website. A replay will be available until May 29, 2020. NYMT is a Maryland-based real estate investment trust focused on acquiring and managing mortgage-related and housing-related assets.