Business Context and Reporting Period
This Form 8-K is a current report filed by New York Mortgage Trust, Inc. (the "Company") on March 19, 2019. The filing primarily addresses corporate governance changes and dividend declarations. Although the request metadata references "ADAMAS TRUST, INC.", the filing text explicitly identifies the registrant as New York Mortgage Trust, Inc.
Key Financial Metrics
The filing does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses on corporate actions rather than financial performance data.
- Dividend Declarations: The Board declared regular quarterly cash dividends on common stock for the quarter ending March 31, 2019.
- Preferred Stock Dividends: Dividends were declared for the quarterly period beginning January 15, 2019, and ending April 14, 2019, on the following series:
- 7.75% Series B Cumulative Redeemable Preferred Stock
- 7.875% Series C Cumulative Redeemable Preferred Stock
- 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Material Changes
The primary material change reported is the expansion of the Board of Directors and the appointment of a new director.
- Board Appointment: Jason T. Serrano was appointed as a director, effective March 19, 2019.
- Board Size: The Board size was increased to seven directors.
- Executive Role: Mr. Serrano has served as President of the Company since January 7, 2019.
Guidance, Outlook, and Management Commentary
The filing contains no forward-looking guidance, financial outlook, or management commentary regarding future performance. It notes that Mr. Serrano will not receive additional compensation for his service on the Board beyond his compensation as President. No risks, contingencies, or unusual items are disclosed in this specific report.
Important Facts for Investor Verification
- Verify the exact dividend amounts per share for the common stock and the three series of preferred stock, as the filing declares the dividends but does not list the specific dollar values.
- Confirm the payment date and record date for the declared dividends, which are not specified in this text.
- Review the Company's most recent 10-Q or 10-K for financial metrics (revenue, net income, liquidity) as this 8-K does not contain them.
- Note the distinction between the metadata company name (Adamas Trust) and the actual registrant (New York Mortgage Trust, Inc.).