Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2025

Stockholders' Equity Note [Abstract]

Schedule of Preferred Stock Issued and Outstanding

The following tables summarize the Company’s Preferred Stock issued and outstanding as of June 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):


June 30, 2025
Class of Preferred Stock	Shares Authorized	Shares Issued and Outstanding	Carrying Value		Liquidation Preference		Contractual Rate (1)		Optional Redemption Date (2)	Fixed-to-Floating Rate Conversion Date (1)(3)	Floating Annual Rate (4) (5)
Fixed-to-Floating Rate
Series D	8,400,000	6,147,041	$	148,580	$	153,676	8.000	%	October 15, 2027	October 15, 2027	3M LIBOR + 5.695%
Series E	9,900,000	7,426,134	179,712		185,653		7.875	%	January 15, 2025	January 15, 2025	3M SOFR + tenor spread adjustment of 0.26161% + 6.429%
Series F	7,750,000	5,791,433	139,508		144,786		6.875	%	October 15, 2026	October 15, 2026	3M SOFR + 6.130%
Fixed Rate
Series G	5,450,000	2,975,301	71,614		74,383		7.000	%	January 15, 2027
Total	31,500,000	22,339,909	$	539,414	$	558,498


December 31, 2024
Class of Preferred Stock	Shares Authorized	Shares Issued and Outstanding	Carrying Value		Liquidation Preference		Contractual Rate (1)		Optional Redemption Date (2)	Fixed-to-Floating Rate Conversion Date (1)(3)	Floating Annual Rate (4) (5)
Fixed-to-Floating Rate
Series D	8,400,000	6,107,318	$	147,745	$	152,683	8.000	%	October 15, 2027	October 15, 2027	3M LIBOR + 5.695%
Series E	9,900,000	7,343,151	177,697		183,579		7.875	%	January 15, 2025	January 15, 2025	3M SOFR + tenor spread adjustment of 0.26161% + 6.429%
Series F	7,750,000	5,740,209	138,418		143,505		6.875	%	October 15, 2026	October 15, 2026	3M SOFR + 6.130%
Fixed Rate
Series G	5,450,000	2,973,736	71,585		74,343		7.000	%	January 15, 2027
Total	31,500,000	22,164,414	$	535,445	$	554,110

(1)The Company's fixed rate preferred stock is entitled to receive a dividend at the contractual rate shown, per year on its $25 liquidation preference. Each series of fixed-to-floating rate preferred stock is entitled to receive a dividend at the contractual rate shown, respectively, per year on its $25 liquidation preference up to, but excluding, the fixed-to-floating rate conversion date.

(2)Each series of Preferred Stock is not redeemable by the Company prior to the respective optional redemption date disclosed except under circumstances intended to preserve the Company’s qualification as a REIT and except upon occurrence of a Change in Control (as defined in the Articles Supplementary designating the Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock and Series G Preferred Stock, respectively).

(3)Beginning on the respective fixed-to-floating rate conversion date, each of the Series D Preferred Stock, Series E Preferred Stock and Series F Preferred Stock is entitled to receive a dividend on a floating rate basis according to the terms disclosed in footnotes (4) and (5) below.

(4)Prior to July 2023, on and after the fixed-to-floating rate conversion date, each of the Series D Preferred Stock and Series E Preferred Stock were entitled to receive a dividend at a floating rate equal to three-month LIBOR plus the respective spread disclosed above per year on its $25 liquidation preference. In light of the cessation of the publication of three-month LIBOR after June 30, 2023, and pursuant to the Articles Supplementary for the Series E Preferred Stock and the applicability of the Adjustable Interest Rate (LIBOR) Act of 2021 to the Series E Preferred Stock, the calculation agent determined that three-month CME Term SOFR plus the applicable tenor spread adjustment of 0.26161% per annum has replaced three-month LIBOR as the successor base rate for calculations of the dividend rate payable on the Series E Preferred Stock for dividend periods from and after the respective fixed-to-floating rate conversion date. Additionally, pursuant to the Articles Supplementary for the Series D Preferred Stock and the applicability of the LIBOR Act of 2021 to the Series D Preferred Stock, given all of the information available to the Company to date, the Company believes that three-month CME Term SOFR plus the applicable tenor spread adjustment of 0.26161% per annum will automatically replace three-month LIBOR as the reference rate for calculations of the dividend rate payable on the Series D Preferred Stock for dividend periods from and after the respective fixed-to-floating rate conversion date.

(5)On and after the fixed-to-floating rate conversion date, the Series F Preferred Stock is entitled to receive a dividend at a floating rate equal to three-month SOFR plus the spread disclosed above per year on its $25 liquidation preference.

Schedule of Dividends Payable

The following table presents the relevant information with respect to quarterly cash dividends declared on the Preferred Stock commencing January 1, 2024 through June 30, 2025:


			Cash Dividend Per Share
Declaration Date	Record Date	Payment Date	Series D Preferred Stock		Series E Preferred Stock		Series F Preferred Stock		Series G Preferred Stock
June 12, 2025	July 1, 2025	July 15, 2025	$	0.50	$	0.691771300	$	0.4296875	$	0.43750
March 20, 2025	April 1, 2025	April 15, 2025	0.50		0.687036875		0.4296875		0.43750
December 10, 2024	January 1, 2025	January 15, 2025	0.50		0.4921875		0.4296875		0.43750
September 19, 2024	October 1, 2024	October 15, 2024	0.50		0.4921875		0.4296875		0.43750
June 18, 2024	July 1, 2024	July 15, 2024	0.50		0.4921875		0.4296875		0.43750
March 13, 2024	April 1, 2024	April 15, 2024	0.50		0.4921875		0.4296875		0.43750

The following table presents cash dividends declared by the Company on its common stock with respect to the quarterly periods commencing January 1, 2024 through June 30, 2025:

Period

Declaration Date

Record Date

Payment Date

Cash Dividend Per Share

Second Quarter 2025

June 12, 2025

June 23, 2025

July 30, 2025

0.20

First Quarter 2025

March 20, 2025

March 31, 2025

April 28, 2025

0.20

Fourth Quarter 2024

December 10, 2024

December 20, 2024

January 23, 2025

0.20

Third Quarter 2024

September 19, 2024

September 30, 2024

October 28, 2024

0.20

Second Quarter 2024

June 18, 2024

June 28, 2024

July 29, 2024

0.20

First Quarter 2024

March 13, 2024

March 25, 2024

April 25, 2024

0.20

NEW YORK MORTGAGE TRUST, INC. 10-Q