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

New York Mortgage Trust, Inc. (NASDAQ:NYMT) announced a quarterly dividend on Thursday, September 19th, Zacks reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.20 per share by the real estate investment trust on Monday, October 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.25%. The ex-dividend date of this dividend is Monday, September 30th.

New York Mortgage Trust has increased its dividend payment 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. 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 Trading Down 0.6 %

Shares of NYMT stock opened at $6.53 on Friday. The stock has a 50-day simple moving average of $6.49 and a 200 day simple moving average of $6.49. The stock has a market capitalization of $595.72 million, a P/E ratio of -3.53 and a beta of 1.94. New York Mortgage Trust has a fifty-two week low of $5.51 and a fifty-two week high of $9.67. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 6.30.

Wall Street Analyst Weigh In

NYMT has been the topic of several recent research reports. StockNews.com raised shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday. Janney Montgomery Scott began coverage on shares of New York Mortgage Trust in a report on Tuesday, August 13th. They set a “neutral” rating and a $7.00 target price for the company. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.75.

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.