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

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. 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 Price Performance

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

New York Mortgage Trust (NASDAQ:NYMT) last issued its 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 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%. As a group, research analysts anticipate that New York Mortgage Trust will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on NYMT shares. StockNews.com upgraded shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Sunday, March 2nd. B. Riley lowered their price objective on shares of New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating for the company in a research note 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. According to data from MarketBeat.com, the stock has a consensus 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.