New York Mortgage Trust Stock Price, News & Analysis

New York Mortgage Trust, Inc. (Nasdaq: NYMT) reported its third quarter 2021 results, highlighting a net income of $36.9 million, or $0.10 per share. The comprehensive income was $31.5 million, or $0.08 per share. Key developments include the purchase of $370.7 million in residential loans and the issuance of 5.75 million shares of Series F Preferred Stock, generating net proceeds of $138.6 million. The company’s economic return on book value was 2.1%, with a book value per common share of $4.74 at quarter-end. Management aims to reduce funding costs through strategic refinancings.

New York Mortgage Trust (NYSE: NYMT) will release its financial results for Q3 and YTD September 30, 2021, on November 2, 2021, before market opening. Executive management will host a conference call at 9:00 a.m. ET on the same day, accessible via phone and an audio webcast on their website. A replay will be available until November 9, 2021. NYMT is a real estate investment trust specializing in mortgage-related residential assets.

New York Mortgage Trust (Nasdaq: NYMT) declared a regular quarterly cash dividend of $0.10 per share for the quarter ending September 30, 2021. This dividend is payable on October 25, 2021 to stockholders of record as of September 23, 2021. Additionally, cash dividends for preferred stock classes—Series B, D, E, and F—were announced, with payment set for October 15, 2021. Notably, the Series B Preferred Stock dividend is $0.484375 per share.

New York Mortgage Trust (NYSE: NYMT) reported its Q2 2021 results with net income of $42.9 million, translating to $0.11 per share. The company achieved a comprehensive income of $46.5 million and a net interest income of $31.5 million, with a portfolio net interest margin of 2.97%. The book value per share increased to $4.74, marking an economic return of 2.8% for the quarter. Key transactions included purchasing $257.8 million in residential loans and issuing $100 million in 5.75% senior unsecured notes, while redeeming $104.9 million of higher-rate preferred stock.

New York Mortgage Trust (Nasdaq: NYMT) will report its financial results for the six months ending June 30, 2021, on August 5, 2021. An earnings conference call is scheduled for August 6, 2021, at 9:00 a.m. ET, which investors can join via the company's website or by phone. A replay of the call will be available until August 13, 2021. NYMT operates as a real estate investment trust focusing on mortgage-related residential assets.

New York Mortgage Trust (NASDAQ: NYMT) announced the extension of its offer to exchange up to $100 million of 5.75% Senior Notes due 2026. The new expiration date for the exchange offer is now July 23, 2021, 5:00 P.M. NYC time. Previously, the offer was set to expire on July 21, 2021. As of the announcement, approximately $98,750,000, or 98.75%, of the Existing Notes have been tendered. Other terms of the exchange remain unchanged from the June 21 prospectus.

New York Mortgage Trust (NASDAQ: NYMT) has appointed Audrey E. Greenberg as a Director, effective immediately, enhancing its Board of Directors to eight members, six of whom are independent. Greenberg, a Co-Founder of Discovery Labs with over two decades of experience in real estate private equity, will also serve on the Investment Committee. This addition aims to leverage her operational expertise to bolster the company’s investment strategies and ensure stable cash flows for shareholders.

New York Mortgage Trust (Nasdaq: NYMT) announced plans to redeem all 4,181,807 shares of its 7.875% Series C Cumulative Redeemable Preferred Stock on July 30, 2021. Each share will be redeemed at a price of $25.00 plus any accrued and unpaid dividends. After the redemption date, the Series C Preferred Stock will no longer be outstanding, and dividend accrual will cease. Shares are held in book-entry form through the Depository Trust Company, with American Stock Transfer & Trust Company serving as the redemption agent.

New York Mortgage Trust (Nasdaq: NYMT) announced a public offering of 5,000,000 shares of its 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, aiming for gross proceeds of $125 million. The offering, priced at $25 per share, is expected to close on July 7, 2021. The Company intends to use proceeds to redeem its outstanding 7.875% Series C Preferred Stock and for general business purposes, including asset acquisitions. The offering is underpinned by a shelf registration statement with the SEC effective since August 9, 2018.