New York Mortgage Trust Stock Price, News & Analysis

New York Mortgage Trust, Inc. (Nasdaq: NYMT) is a Maryland corporation that has elected to be taxed as a real estate investment trust (REIT) for federal income tax purposes. According to the company’s disclosures, it is an internally managed REIT focused on acquiring, investing in, financing and managing primarily mortgage-related single-family and multi-family residential assets. The company’s common stock and several series of preferred stock and senior notes are listed on the Nasdaq Stock Market under the NYMT family of symbols, as reflected in its current and recent SEC filings.

In its public statements, New York Mortgage Trust describes its business as strategically deploying capital across complementary businesses to generate durable earnings and long-term value for stockholders. The company emphasizes a foundation of strength, integrity and resilience, and highlights a combination of disciplined portfolio management with an operating platform designed to capture opportunities across real estate and capital markets.

Business focus and investment activities

New York Mortgage Trust reports that it is in the business of acquiring, investing in, financing and managing primarily mortgage-related residential assets. Its capital allocation tables and financial updates show exposure to residential loans, multi-family loans, investment securities available for sale, single-family rental properties, mortgage servicing rights, equity investments and equity investments in consolidated multi-family properties and related disposal groups. These disclosures indicate that the company’s activities span single-family and multi-family residential credit, as well as related structured finance positions.

The company’s quarterly results releases and related SEC filings describe how it allocates capital across categories such as single-family, multi-family and corporate/other, and how it finances these assets through a mix of repurchase agreements, residential loan securitization collateralized debt obligations (CDOs), non-agency RMBS re-securitization CDOs, senior unsecured notes and subordinated debentures. New York Mortgage Trust also reports on its use of securitizations of residential loans and the redemption of certain securitizations, illustrating an active approach to balance sheet and liability management within its REIT framework.

REIT structure and tax status

New York Mortgage Trust states that it has elected to be taxed as a REIT for federal income tax purposes. As a REIT, it focuses on real estate and mortgage-related assets and makes distributions to stockholders. The company notes that it is internally managed, meaning management and investment decisions are made within the corporate structure rather than through an external manager. Its public communications also reference the importance of maintaining REIT qualification and an exemption from registration under the Investment Company Act of 1940, as amended.

Capital markets activity and listed securities

Recent SEC filings show that New York Mortgage Trust has issued senior unsecured notes, including 9.125% Senior Notes due 2029, 9.125% Senior Notes due 2030 and 9.875% Senior Notes due 2030, which trade on Nasdaq under the symbols NYMTI, NYMTG and NYMTH, respectively. The company has also completed public offerings and registered direct offerings of these notes under its shelf registration statement on Form S-3, and has used the proceeds for general corporate purposes, including acquiring targeted mortgage-, residential housing- and credit-related assets and for working capital.

In addition to its common stock, New York Mortgage Trust has multiple series of preferred stock listed on Nasdaq, including its 8.000% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NYMTN), 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NYMTM), 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NYMTL) and 7.000% Series G Cumulative Redeemable Preferred Stock (NYMTZ). The company regularly declares and pays quarterly cash dividends on both its common and preferred shares, as disclosed in its dividend announcements.

Evolution of strategy and operating platform

In its recent communications, New York Mortgage Trust has described a strategic focus on generating recurring income through investments that it characterizes as highly liquid or less sensitive to credit deterioration, such as Agency residential mortgage-backed securities (RMBS), and through business purpose loans for residential real estate investors. The company has reported significant investment activity in Agency RMBS and residential loans, and has discussed portfolio realignment efforts aimed at enhancing interest income and supporting its dividend.

New York Mortgage Trust has also highlighted the role of operating platforms within its broader strategy. Through its acquisition of the remaining ownership interest in Constructive Loans, LLC, which it describes as a leading originator of business purpose loans for residential real estate investors, the company has indicated an intention to diversify and scale recurring earnings by including a top operating platform within its structure. Constructive Loans is expected to operate as an independent subsidiary with its leadership team remaining in place, according to the company’s announcement.

Planned corporate rebrand and ticker change

The company has announced that it will change its name from New York Mortgage Trust, Inc. to Adamas Trust, Inc., effective as of 12:01 a.m., Eastern Time, on September 3, 2025. An 8-K filing describes Articles of Amendment filed with the Maryland State Department of Assessments and Taxation to effect this name change and notes corresponding updates to the company’s bylaws. In connection with the rebrand, the company has stated that its trading symbols on Nasdaq will change from NYMT and related preferred and note symbols to a new set of ADAM-based symbols as of that effective date.

In its press release announcing the rebrand, the company explains that the new name, Adamas Trust, Inc., reflects a focus on strength, resilience and long-term vision, and marks a further step in its evolution into what it describes as a multi-dimensional investment and operating platform. The company has also indicated that the rebrand will not affect its business operations, stockholder rights or qualification as a REIT for U.S. federal income tax purposes, and that its outstanding securities will remain valid without requiring action from securityholders.

Financial reporting and performance metrics

New York Mortgage Trust regularly reports its financial results for quarterly periods, including net income or loss attributable to common stockholders, earnings available for distribution, book value per common share, adjusted book value per common share, economic return on book value and net interest spread. The company uses both GAAP and non-GAAP measures, and provides reconciliations of non-GAAP metrics to the most directly comparable GAAP measures in its earnings materials and SEC filings.

The company’s disclosures also include detailed tables on interest earning assets and interest bearing liabilities by category, along with adjusted interest income, adjusted interest expense, adjusted net interest income (loss), yield on average interest earning assets, average financing cost and net interest spread. These data illustrate how New York Mortgage Trust evaluates the performance of its single-family, multi-family and corporate/other segments and the impact of its financing structure on net interest income.

Regulatory filings and risk disclosures

As a public company, New York Mortgage Trust files periodic reports and current reports with the SEC, including Forms 10-Q, 10-K and 8-K. Its press releases and filings contain forward-looking statements that are subject to risks and uncertainties, and the company refers readers to risk factors and other information described in its reports filed with the SEC pursuant to the Securities Exchange Act of 1934, as amended. These filings discuss, among other topics, changes in business and investment strategy, interest rate and credit spread movements, prepayment rates, default and delinquency trends, financing relationships, regulatory changes, REIT qualification, use of leverage and risks associated with investing in real estate assets and operating companies.

Status of the NYMT ticker

For investors researching the NYMT symbol, it is important to note that the company has disclosed a planned change of its corporate name to Adamas Trust, Inc. and a corresponding change of its Nasdaq trading symbol from NYMT to ADAM for its common stock, along with similar changes for its preferred stock and senior notes. The NYMT ticker therefore represents the historical and transitional trading symbol for New York Mortgage Trust, Inc. up to the effective date of the rebrand, after which current trading information will be associated with the new ADAM family of symbols as described in the company’s 8-K filing and press release.