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, September 19th, Zacks reports. Investors of record on Monday, September 30th will be paid 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 yield of 12.25%. The ex-dividend date of this dividend is Monday, September 30th.

New York Mortgage Trust has increased its dividend by an average of 18.7% per year over the last three years. New York Mortgage Trust has a payout ratio of 195.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

NYMT stock opened at $6.53 on Friday. The firm has a 50 day simple moving average of $6.49 and a two-hundred day simple moving average of $6.48. The stock has a market cap of $595.72 million, a PE ratio of -3.53 and a beta of 1.94. New York Mortgage Trust has a one year low of $5.51 and a one year high of $9.67. The company has a debt-to-equity ratio of 6.30, a current ratio of 6.46 and a quick ratio of 6.46.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NYMT. StockNews.com raised New York Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday. Janney Montgomery Scott began coverage on New York Mortgage Trust in a report on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 price objective for the company. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.75.

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.