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 (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.
New York Mortgage Trust (Nasdaq: NYMT) announced a public offering of its Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock on June 29, 2021. The intended listing for the Series F Preferred Stock is on the Nasdaq Global Select Market under the symbol NYMTL. Proceeds will be utilized to redeem a portion of the 7.875% Series C Preferred Stock and for general business purposes, including targeted asset acquisitions. Raymond James & Associates acts as the sole book-runner for the offering.
New York Mortgage Trust (Nasdaq: NYMT) announced a quarterly cash dividend of $0.10 per share for the quarter ending June 30, 2021, payable on July 26, 2021, to stockholders of record by June 24, 2021. Additionally, dividends for the Company's preferred stock series were declared, with payment on July 15, 2021. Series B, C, D, and E preferred stock will see dividends ranging from $0.484375 to $0.4921875 per share. The company continues to operate as a REIT focused on mortgage-related assets.
New York Mortgage Trust (NYMT) reported its first-quarter 2021 results, showing a net income of $41.9 million, or $0.11 per share, and a comprehensive income of $44.8 million, or $0.12 per share. The portfolio's net interest margin increased to 2.42%, with a 17% rise in net interest income totaling $30.3 million.
The company sold $72.1 million in non-Agency RMBS and $39.5 million in CMBS, while purchasing $347.3 million in residential loans. It also completed a $100 million private placement of senior unsecured notes.
New York Mortgage Trust, Inc. (Nasdaq: NYMT) announced the completion of a private placement of $100 million in 5.75% senior unsecured notes due April 2026. The notes were issued at 100% of par, and the net proceeds will be utilized for new investments, repayment of existing debt, and general corporate purposes. Piper Sandler & Co. acted as the placement agent. It's important to note that these securities are unregistered under the Securities Act and may not be offered or sold in the U.S. unless registered or exempt.