Item 5. Market for Registrant’s Common Equity
Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Price of and Dividends on the Registrant’s Common Equity and Related Stockholder Matters
Our common stock is traded on the NASDAQ Global Select Market under the trading symbol “NYMT”. As of December 31, 2020, we had 377,744,476 shares of common stock outstanding and there were approximately 75 holders of record of our common stock, which does not reflect the beneficial ownership of shares held in nominee name, which we are unable to estimate.
We intend to pay regular quarterly dividends to holders of shares of our common stock. Future distributions will be at the discretion of our Board of Directors and will depend on our earnings and financial condition, capital requirements, maintenance of our REIT qualification, restrictions on making distributions under Maryland law and such other factors as our Board of Directors deems relevant.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
None.
Securities Authorized for Issuance Under Equity Compensation Plans
The following table sets forth information as of December 31, 2020 with respect to compensation plans under which equity securities of the Company are authorized for issuance. The Company has no such plans that were not approved by security holders.
Plan Category Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants and Rights Weighted Average Exercise Price of Outstanding Options, Warrants and Rights Number of Securities Remaining Available for Future Issuance under Equity Compensation Plan
Equity compensation plans approved by security holders 5,240,263 $ — 5,540,536
Performance Graph
The following line graph sets forth, for the period from December 31, 2015 through December 31, 2020, a comparison of the percentage change in the cumulative total stockholder return on the Company’s common stock compared to the cumulative total return of the Russell 2000 Index and the FTSE National Association of Real Estate Investment Trusts Mortgage REIT (“FTSE NAREIT Mortgage REITs”) Index. The graph assumes (i) that the value of the investment in the Company’s common stock and each of the indices were $100 as of December 31, 2015 and (ii) the reinvestment of all dividends.
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12/15 12/16 12/17 12/18 12/19 12/20
New York Mortgage Trust, Inc. 100.00 145.94 154.68 168.47 202.69 129.49
Russell 2000 100.00 121.31 139.08 123.76 155.35 186.36
FTSE Nareit Mortgage REITs 100.00 122.85 147.16 143.45 174.05 141.38
The foregoing graph shall not be deemed incorporated by reference by any general statement incorporating by reference this Annual Report on Form 10-K into any filing under the Securities Act or under the Exchange Act, except to the extent we specifically incorporate this information by reference, and shall not otherwise by deemed "filed" with the SEC or deemed "soliciting material" under those acts.
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Item 6. SELECTED FINANCIAL DATA
The following table sets forth our selected historical operating and financial data. The selected historical operating and balance sheet data for the years ended and as of December 31, 2020, 2019, 2018, 2017 and 2016 have been derived from our historical financial statements. Prior year information has been conformed to current year financial statement presentation.
The information presented below is only a summary and does not provide all of the information contained in our historical consolidated financial statements, including the related notes. You should read the information below in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our historical consolidated financial statements, including the related notes (amounts in thousands, except per share data):
Selected Statement of Operations Data:
For the Years Ended December 31,
2020 2019 2018 2017 2016
Interest income $ 350,161 $ 694,614 $ 455,799 $ 366,087 $ 319,306
Interest expense 223,068 566,750 377,071 308,101 254,668
Net interest income 127,093 127,864 78,728 57,986 64,638
Non-interest (loss) income (359,792) 94,448 66,480 75,013 41,238
General, administrative and operating expenses 54,563 49,835 41,470 41,077 35,221
Net (loss) income attributable to Company's common stockholders (329,696) 144,835 79,186 76,320 54,651
Basic (loss) earnings per common share $ (0.89) $ 0.65 $ 0.62 $ 0.68 $ 0.50
Diluted (loss) earnings per common share $ (0.89) $ 0.64 $ 0.61 $ 0.66 $ 0.50
Dividends declared per common share $ 0.23 $ 0.80 $ 0.80 $ 0.80 $ 0.96
Weighted average shares outstanding-basic 371,004 221,380 127,243 111,836 109,594
Weighted average shares outstanding-diluted 371,004 242,596 147,450 130,343 109,594
Selected Balance Sheet Data:
As of December 31,
2020 2019 2018 2017 2016
Residential loans (1)
$ 3,049,166 $ 2,961,396 $ 1,022,784 $ 492,437 $ 616,007
Multi-family loans (1)
163,593 17,996,791 11,845,402 9,796,341 7,039,994
Investment securities available for sale, at fair value 724,726 2,006,140 1,512,252 1,413,081 818,976
Equity investments 259,095 189,965 73,466 51,143 79,259
Total assets (1)
4,655,587 23,483,369 14,737,638 12,056,285 8,951,631
Repurchase agreements 405,531 3,105,416 2,131,505 1,425,981 965,561
Collateralized debt obligations (1)
1,623,658 17,817,709 11,117,623 9,341,304 6,875,426
Convertible notes 135,327 132,955 130,762 128,749 —
Subordinated debentures 45,000 45,000 45,000 45,000 45,000
Total liabilities (1)
2,348,014 21,278,340 13,557,345 11,080,284 8,100,469
Total equity 2,307,573 2,205,029 1,180,293 976,001 851,162
(1) The following table presents the components of residential loans, multi-family loans and collateralized debt obligations for each of the balance sheet dates presented. Our consolidated balance sheets include assets and liabilities of Consolidated VIEs, as the Company is the primary beneficiary of these VIEs. Assets and liabilities of the Company's Consolidated VIEs for each of the balance sheet dates presented are also included in the following table (dollar amounts in thousands):
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As of December 31,
2020 2019 2018 2017 2016
Residential loans
Residential loans, at fair value $ 3,049,166 $ 2,758,640 $ 737,523 $ 87,153 $ 17,769
Residential loans, at amortized cost, net — 202,756 285,261 405,284 598,238
Total $ 3,049,166 $ 2,961,396 $ 1,022,784 $ 492,437 $ 616,007
Multi-family loans
Multi-family loans, at fair value $ 163,593 $ 17,816,746 $ 11,679,847 $ 9,657,421 $ 6,939,844
Multi-family loans, at amortized cost, net — 180,045 165,555 138,920 100,150
Total $ 163,593 $ 17,996,791 $ 11,845,402 $ 9,796,341 $ 7,039,994
Collateralized debt obligations
Collateralized debt obligations, at fair value $ 1,054,335 $ 17,777,280 $ 11,022,248 $ 9,189,459 $ 6,624,896
Collateralized debt obligations, at amortized cost, net 569,323 40,429 95,375 151,845 250,530
Total
$ 1,623,658 $ 17,817,709 $ 11,117,623 $ 9,341,304 $ 6,875,426
Consolidated VIEs
Assets $ 2,150,984 $ 19,270,384 $ 11,984,374 $ 10,041,468 $ 7,330,872
Liabilities $ 1,667,306 $ 17,878,314 $ 11,191,736 $ 9,436,421 $ 6,902,536
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