New York Mortgage Trust, Inc. (NASDAQ:NYMT - Get Free Report) announced a quarterly dividend on Thursday, September 19th, Zacks reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.20 per share by the real estate investment trust on Monday, October 28th. This represents a $0.80 annualized dividend and a dividend yield of 11.87%. The ex-dividend date of this dividend is Monday, September 30th.
New York Mortgage Trust has increased its dividend by an average of 18.7% per year over the last three years. New York Mortgage Trust has a dividend payout ratio of 195.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect New York Mortgage Trust to earn $0.64 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 125.0%.
New York Mortgage Trust Stock Performance
Shares of New York Mortgage Trust stock traded down $0.11 during midday trading on Friday, hitting $6.74. The company had a trading volume of 2,541,592 shares, compared to its average volume of 583,904. The company has a fifty day simple moving average of $6.50 and a 200 day simple moving average of $6.51. The stock has a market cap of $614.88 million, a price-to-earnings ratio of -3.64 and a beta of 1.94. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 6.30. New York Mortgage Trust has a 12-month low of $5.51 and a 12-month high of $9.67.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of New York Mortgage Trust from a "hold" rating to a "sell" rating in a report on Friday. Janney Montgomery Scott assumed coverage on New York Mortgage Trust in a research note on Tuesday, August 13th. They issued a "neutral" rating and a $7.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $7.75.
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About New York Mortgage Trust
(
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New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, including business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgage, residential housing, and credit-related assets.
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