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

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 paid 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 raised its dividend payment by an average of 30.1% annually 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. 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 NYMT stock opened at $6.88 on Friday. The business’s fifty day simple moving average is $6.34 and its 200-day simple moving average is $6.15. The company has a market cap of $623.10 million, a PE ratio of -6.04 and a beta of 1.93. The company has a current ratio of 11.17, a quick ratio of 8.25 and a debt-to-equity ratio of 8.33. New York Mortgage Trust has a 12-month low of $5.14 and a 12-month high of $7.38.

New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) earnings per share (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 analyst estimates of $20.06 million. New York Mortgage Trust had a negative return on equity of 1.39% and a negative net margin of 15.46%. Analysts expect that New York Mortgage Trust will post 0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NYMT has been the topic of a number of recent analyst reports. StockNews.com raised New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Sunday, March 2nd. B. Riley cut their target price on New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.