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

New York Mortgage Trust, Inc. (NASDAQ:NYMT) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Shareholders 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 yield of 11.63%.

New York Mortgage Trust has raised its dividend payment by an average of 30.1% annually over the last three years. New York Mortgage Trust has a dividend 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. 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 Price Performance

Shares of NYMT stock remained flat at $6.88 during trading on Thursday. 413,524 shares of the company were exchanged, compared to its average volume of 646,378. New York Mortgage Trust has a 52-week low of $5.14 and a 52-week high of $7.38. The company has a quick ratio of 8.25, a current ratio of 11.17 and a debt-to-equity ratio of 8.33. The firm has a market cap of $623.10 million, a P/E ratio of -6.04 and a beta of 1.93. The company has a fifty day simple moving average of $6.34 and a 200-day simple moving average of $6.15.

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

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com raised New York Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Sunday, March 2nd. B. Riley dropped their target price 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.00.

New York Mortgage Trust Company Profile

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.