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

New York Mortgage Trust, Inc. (NASDAQ:NYMT) declared 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 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 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 Trading Down 0.6 %

NASDAQ:NYMT opened at $6.53 on Friday. The firm’s 50 day moving average is $6.49 and its 200 day moving average is $6.48. New York Mortgage Trust has a 12 month low of $5.51 and a 12 month high of $9.67. The stock has a market capitalization of $595.72 million, a PE ratio of -3.53 and a beta of 1.94. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 6.30.

Analyst Ratings Changes

A number of research analysts have recently commented on NYMT shares. Janney Montgomery Scott initiated coverage on New York Mortgage Trust in a research report on Tuesday, August 13th. They set a “neutral” rating and a $7.00 price target on the stock. StockNews.com upgraded shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Saturday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.