New York Mortgage Trust, Inc. Plans Quarterly Dividend of $0.20 (NASDAQ:NYMT)

New York Mortgage Trust, Inc. (NASDAQ:NYMT - Get Free Report) declared a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.20 per share by the real estate investment trust on Monday, April 28th. This represents a $0.80 annualized dividend and a dividend yield of 11.76%. The ex-dividend date of this dividend is Monday, March 31st.

New York Mortgage Trust has raised its dividend by an average of 30.1% annually over the last three years. New York Mortgage Trust has a payout ratio of 106.7% meaning 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 $0.65 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 123.1%.

New York Mortgage Trust Stock Performance

Shares of NASDAQ:NYMT traded up $0.01 during trading hours on Monday, hitting $6.80. The stock had a trading volume of 415,841 shares, compared to its average volume of 648,725. The stock's fifty day simple moving average is $6.36 and its 200 day simple moving average is $6.15. The firm has a market capitalization of $615.86 million, a price-to-earnings ratio of -5.96 and a beta of 1.93. The company has a debt-to-equity ratio of 8.33, a quick ratio of 8.25 and a current ratio of 11.17. New York Mortgage Trust has a 1-year low of $5.14 and a 1-year high of $7.35.

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New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last posted its earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.47). New York Mortgage Trust had a negative net margin of 15.46% and a negative return on equity of 1.39%. The business had revenue of $26.71 million during the quarter, compared to analyst estimates of $20.06 million. Sell-side analysts anticipate that New York Mortgage Trust will post 0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NYMT has been the subject of several research analyst reports. B. Riley reduced their price objective on shares of New York Mortgage Trust from $11.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. StockNews.com raised shares of New York Mortgage Trust from a "sell" rating to a "hold" rating in a research note on Sunday, March 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, New York Mortgage Trust has an average rating of "Hold" and an average price target of $7.00.

About New York Mortgage Trust

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.