New York Mortgage Trust, Inc. (NASDAQ:NYMT) Expected to Post Earnings of $0.11 Per Share

Wall Street brokerages expect New York Mortgage Trust, Inc. (NASDAQ:NYMT) to announce earnings per share (EPS) of $0.11 for the current quarter, Zacks reports. Two analysts have issued estimates for New York Mortgage Trust’s earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.12. New York Mortgage Trust reported earnings of $0.07 per share during the same quarter last year, which indicates a positive year over year growth rate of 57.1%. The firm is scheduled to report its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that New York Mortgage Trust will report full year earnings of $0.46 per share for the current year, with EPS estimates ranging from $0.43 to $0.48. For the next financial year, analysts forecast that the company will report earnings of $0.50 per share, with EPS estimates ranging from $0.44 to $0.57. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow New York Mortgage Trust.

New York Mortgage Trust (NASDAQ:NYMT) last posted its quarterly earnings results on Thursday, August 5th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. New York Mortgage Trust had a return on equity of 10.13% and a net margin of 148.35%.

Several brokerages recently issued reports on NYMT. Zacks Investment Research raised shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a report on Thursday. BTIG Research restated a “hold” rating on shares of New York Mortgage Trust in a research note on Wednesday, June 2nd. Finally, Bank of America reiterated an “underperform” rating and issued a $4.50 target price on shares of New York Mortgage Trust in a research note on Monday, May 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.94.

A number of institutional investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC purchased a new stake in New York Mortgage Trust in the second quarter valued at approximately $33,000. Citizens Financial Group Inc RI acquired a new stake in New York Mortgage Trust during the 1st quarter valued at approximately $45,000. Almanack Investment Partners LLC. purchased a new stake in shares of New York Mortgage Trust in the 2nd quarter valued at $47,000. Catalyst Capital Advisors LLC increased its stake in shares of New York Mortgage Trust by 31.8% in the second quarter. Catalyst Capital Advisors LLC now owns 10,540 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 2,540 shares during the period. Finally, Prime Capital Investment Advisors LLC purchased a new position in shares of New York Mortgage Trust during the second quarter worth $49,000. Institutional investors and hedge funds own 53.88% of the company’s stock.

NASDAQ NYMT traded up $0.06 during trading on Friday, reaching $4.37. 6,946,806 shares of the company’s stock traded hands, compared to its average volume of 3,112,571. The company’s 50 day simple moving average is $4.35 and its two-hundred day simple moving average is $4.46. New York Mortgage Trust has a 12-month low of $2.41 and a 12-month high of $4.93. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 6.94 and a beta of 1.93.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 25th. Stockholders of record on Thursday, September 23rd will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.15%. New York Mortgage Trust’s payout ratio is -28.78%.

About New York Mortgage Trust

New York Mortgage Trust, Inc is a real estate investment trust, which engages in the acquisition, investment, finance and management of mortgage-related and residential housing-related assets. Its objective is to deliver long-term stable distributions to its stockholders over changing economic conditions through a combination of net interest margin and capital gains from a diversified investment portfolio.

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Earnings History and Estimates for New York Mortgage Trust (NASDAQ:NYMT)

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