-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UzzELnaVFigCnVDicEOc3cooiBAHqRSSme/Y6xUHZQa5WhVaHDgE1TvrFn1ZNSw0 DHjxD0h5IzEhfuurk6Ibqw== 0001144204-08-038577.txt : 20080703 0001144204-08-038577.hdr.sgml : 20080703 20080703154009 ACCESSION NUMBER: 0001144204-08-038577 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20080630 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080703 DATE AS OF CHANGE: 20080703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEW YORK MORTGAGE TRUST INC CENTRAL INDEX KEY: 0001273685 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 470934168 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32216 FILM NUMBER: 08938722 BUSINESS ADDRESS: STREET 1: 1301 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2126349400 8-K 1 v119180_8-k.htm
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): June 30, 2008
 
NEW YORK MORTGAGE TRUST, INC.
(Exact name of registrant as specified in its charter)
 
Maryland
001-32216
47-0934168
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)


52 Vanderbilt Avenue, Suite 403
New York, New York 10017
(Address and zip code of
principal executive offices)

Registrant’s telephone number, including area code: (212) 792-0107
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 
Item 7.01. Regulation FD Disclosure.

On June 30, 2008, New York Mortgage Trust, Inc. (the “Company") issued a press release announcing that its Board of Directors declared a cash dividend of $0.16 per share on its common stock for the quarter ended June 30, 2008 and updating its previously issued earnings guidance for the 2008 second quarter. A copy of the press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

In accordance with General Instructions B.2 and B.6 of Form 8-K, the information included under Item 7.01 in this Current Report on Form 8-K (including Exhibit 99.1 hereto), shall not be deemed “filed” for the purposes of Section 18 of the Securities Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Exchange Act or Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 8.01. Other Events.

On June 30, 2008, the Company announced that its Board of Directors declared a cash dividend of $0.16 per share on shares of its common stock for the quarter ended June 30, 2008. The dividend is payable on July 25, 2008 to common stockholders of record on June 30, 2008.

In addition, the Company’s Board of Directors declared a dividend of $0.50 per share, on shares of its Series A Cumulative Convertible Redeemable Preferred Stock (the “Series A Preferred Stock”) for the 2008 second quarter in accordance with the terms of the Series A Preferred Stock. The dividend is payable on July 31, 2008 to stockholders of record on June 30, 2008.

Item 9.01. Financial Statements and Exhibits.
 
(d) Exhibits. The following exhibit is being furnished herewith this Current Report on Form 8-K.

99.1
Press Release dated June 30, 2008.
 
 
 

 

 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
 
 
 
 
NEW YORK MORTGAGE TRUST, INC.
 
 
(Registrant)
 
 
 
 
 
 
Date: July 3, 2008
 
By: /s/ Steven R. Mumma
 

Steven R. Mumma
 
Chief Financial Officer
 
 
 
 

 

EXHIBIT INDEX
Exhibit
Description
 
 
99.1
Press Release dated June 30, 2008.
 
 
 
 
 

 
EX-99.1 2 v119180_ex99-1.htm
Exhibit 99.1
 

New York Mortgage Trust, Inc.
33% Increase in Second Quarter 2008 Common Stock Dividend
Updates Second Quarter Earnings Guidance


NEW YORK, NY - June 30, 2008 - New York Mortgage Trust, Inc. (the “Company”) (NASDAQ: NYMT) announced today that its Board of Directors declared a cash dividend of $0.16 per share on shares of its common stock for the quarter ended June 30, 2008. The dividend is payable on July 25, 2008, to common stockholders of record as of July 10, 2008.

In addition, the Board of Directors declared a dividend of $0.50 per share, on Series A Preferred Stock for the 2008 second quarter in accordance with the terms of the Series A Preferred Stock. The dividend will be payable on July 31, 2008 to stockholders of record on June 30, 2008.
 
The Company also announced that it was updating its previously issued earnings guidance of $0.16 to $0.20 per share to $0.20 to $0.22 per share for its 2008 second quarter. This estimate is based upon the Company's current and assumed liquidity position, investment portfolio margins, principal reinvestment plans, its securitized loan portfolio delinquency and loss performance, and assumes the waiver of liquidated damages that accrued pursuant to a registration rights agreement related to its February 2008 private offering of common stock. The risks to this earnings estimate include, among other things, increased haircut requirements and/or Agency MBS margin calls that could result in securities sales, reduced access to financing, an unexpected increase in the delinquency or loss rates in the Company’s securitized loan portfolio and failure to obtain the liquidated damages waiver described above.
 
During the second quarter, the Company resolved approximately $4.3 million in REO properties and approximately $4.9 million in loans greater than 60 days delinquent held in securitization trusts. As of June 30, 2008, the Company had 1.18% of loans greater than 60 days delinquent and 0.13% in REO properties as compared to 1.82% and 1.21% as of March 31, 2008, respectively.
 
 
 

 
Page 2

 
 
About New York Mortgage Trust
New York Mortgage Trust, Inc. is a self-advised real estate investment trust (REIT) in the business of investing in and managing a portfolio of Agency mortgage-backed securities (MBS), prime credit quality residential adjustable rate mortgage (ARM) loans and non-agency mortgage-backed securities. As a REIT, the Company is not subject to federal income tax, provided that it distributes at least 90% of its REIT income to stockholders.

For Further Information
 
AT THE COMPANY
AT FINANCIAL RELATIONS BOARD
Steven R. Mumma, Co-CEO, President,
Joe Calabrese (General) 212-827-3772
Chief Financial Officer
Scott Eckstein (Analysts) 212-827-3776
Phone: 212-792-0107
 
Email: smumma@nymtrust.com
 

Certain statements contained in this press release may be deemed to be forward-looking statements that predict or describe future events or trends. The matters described in these forward-looking statements are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company's control. The Company faces many risks that could cause its actual performance to differ materially from the results predicted by its forward-looking statements, including, without limitation, a rise in interest rates or an unfavorable change in prepayment rates may cause a decline in the market value of the Company's assets, borrowings to finance the purchase of assets may not be available on favorable terms, the Company may not be able to maintain its qualification as a REIT for federal tax purposes, the Company may be exposed to the risks associated with investing in mortgage loans, including changes in loan delinquencies, and the Company's hedging strategies may not be effective. The reports that the Company files with the Securities and Exchange Commission contain a more detailed description of these and many other risks to which the Company is subject. Because of those risks, the Company's actual results, performance or achievements may differ materially from the results, performance or achievements contemplated by its forward- looking statements. The information set forth in this news release represents management's current expectations and intentions. The Company assumes no responsibility to issue updates to the forward-looking matters discussed in this press release.
 
 
 

 
 
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