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.
The New York Mortgage Trust, Inc. (NYMT) news page on Stock Titan aggregates company announcements, earnings releases, financing updates and strategic developments drawn from official press releases and SEC-reported events. New York Mortgage Trust describes itself as an internally managed real estate investment trust focused on acquiring, investing in, financing and managing primarily mortgage-related single-family and multi-family residential assets, and its news flow reflects this focus on residential credit and capital deployment.
Investors following NYMT news can review quarterly earnings reports that detail net income or loss attributable to common stockholders, earnings available for distribution, book value metrics, net interest income and leverage ratios. These releases are often accompanied by management commentary on capital allocation, portfolio restructuring, investment activity in Agency RMBS and residential loans, and the use of securitizations and senior unsecured notes to finance the portfolio.
Company news also includes disclosures about capital markets transactions, such as public offerings and registered direct offerings of senior notes, consent solicitations related to existing notes, and updates on the listing of new debt securities on Nasdaq. In addition, New York Mortgage Trust issues announcements on dividends for its common stock and multiple series of preferred stock, providing details on record dates, payment dates and per-share amounts.
Strategic and corporate updates form another important category of NYMT news. Recent items include the acquisition of the remaining ownership interest in Constructive Loans, LLC, described as a leading originator of business purpose loans for residential real estate investors, and the planned corporate rebrand from New York Mortgage Trust, Inc. to Adamas Trust, Inc., with corresponding changes to Nasdaq ticker symbols. Readers can use this page to follow how the company presents its evolution into what it calls a multi-dimensional investment and operating platform, as well as to access references to supplemental presentations and conference calls mentioned in its announcements.
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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.