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

New York Mortgage Trust, Inc. (NASDAQ:NYMT) declared a quarterly dividend on Thursday, March 20th, RTT News reports. Investors 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 11.78%. The ex-dividend date of this dividend is Monday, March 31st.

New York Mortgage Trust has raised its dividend by an average of 30.1% annually over the last three years. New York Mortgage Trust has a dividend 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 Stock Down 1.3 %

Shares of NASDAQ:NYMT opened at $6.79 on Friday. New York Mortgage Trust has a 52-week low of $5.14 and a 52-week high of $7.35. The stock has a market cap of $614.95 million, a P/E ratio of -5.96 and a beta of 1.93. The business’s 50 day moving average is $6.36 and its 200 day moving average is $6.15. The company has a quick ratio of 8.25, a current ratio of 11.17 and a debt-to-equity ratio of 8.33.

New York Mortgage Trust (NASDAQ:NYMT) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.47). The company 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%. Sell-side analysts predict that New York Mortgage Trust will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NYMT shares. B. Riley dropped 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. StockNews.com raised New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Sunday, March 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.