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

New York Mortgage Trust, Inc. (NASDAQ:NYMT) declared a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Monday, April 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.63%.

New York Mortgage Trust has increased its dividend by an average of 30.1% per year over the last three years. New York Mortgage Trust has a payout ratio of 106.7% 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 $0.65 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

NYMT opened at $6.88 on Friday. The stock has a market cap of $623.10 million, a price-to-earnings ratio of -6.04 and a beta of 1.93. The stock’s 50 day moving average price is $6.34 and its 200-day moving average price is $6.15. New York Mortgage Trust has a one year low of $5.14 and a one year high of $7.38. 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 (NASDAQ:NYMT) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.47). The business had revenue of $26.71 million for the quarter, compared to the consensus estimate of $20.06 million. New York Mortgage Trust had a negative net margin of 15.46% and a negative return on equity of 1.39%. On average, equities analysts forecast that New York Mortgage Trust will post 0.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. B. Riley lowered their price target on 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 upgraded New York Mortgage Trust from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.