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 Wednesday, December 11th,Wall Street Journal reports. Investors of record on Friday, December 20th will be paid a dividend of 0.20 per share by the real estate investment trust on Thursday, January 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 12.40%. The ex-dividend date of this dividend is Friday, December 20th.

New York Mortgage Trust has increased its dividend by an average of 18.7% annually over the last three years. New York Mortgage Trust has a payout ratio of 142.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect New York Mortgage Trust to earn $0.49 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 163.3%.

New York Mortgage Trust Stock Performance

New York Mortgage Trust stock traded down $0.10 on Wednesday, hitting $6.45. The company’s stock had a trading volume of 410,526 shares, compared to its average volume of 625,464. The firm has a market cap of $584.24 million, a P/E ratio of -19.85 and a beta of 1.94. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 7.24. The company has a fifty day moving average price of $5.82 and a 200-day moving average price of $6.13. New York Mortgage Trust has a one year low of $5.14 and a one year high of $9.67.

Wall Street Analysts Forecast Growth

NYMT has been the topic of several recent analyst reports. Janney Montgomery Scott initiated coverage on shares of New York Mortgage Trust in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 target price on the stock. StockNews.com downgraded shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, New York Mortgage Trust has an average rating of “Hold” and an average target price 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.