New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating) announced a dividend on Friday, June 17th, Fidelity reports. Shareholders of record on Monday, June 27th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, July 25th. The ex-dividend date is Friday, June 24th.
New York Mortgage Trust has decreased its dividend payment by an average of 20.6% annually over the last three years. New York Mortgage Trust has a payout ratio of 129.0% indicating that 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 $0.29 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 137.9%.
Shares of NASDAQ NYMT traded up $0.09 during mid-day trading on Friday, reaching $2.36. 13,986,733 shares of the company’s stock traded hands, compared to its average volume of 3,677,131. The stock has a market cap of $899.75 million, a P/E ratio of 47.20, a PEG ratio of 7.08 and a beta of 1.77. The business has a 50-day simple moving average of $3.08 and a 200 day simple moving average of $3.47. New York Mortgage Trust has a 1-year low of $2.24 and a 1-year high of $4.72. The company has a debt-to-equity ratio of 1.73, a current ratio of 4.03 and a quick ratio of 4.03.
A number of research analysts have recently issued reports on NYMT shares. Barclays reduced their price objective on shares of New York Mortgage Trust from $4.00 to $3.50 in a report on Wednesday, April 27th. Bank of America cut their price target on shares of New York Mortgage Trust from $4.50 to $3.75 and set an “underperform” rating on the stock in a report on Wednesday, March 9th. StockNews.com cut shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. Keefe, Bruyette & Woods upgraded shares of New York Mortgage Trust from a “market perform” rating to an “outperform” rating and set a $4.50 price target on the stock in a report on Wednesday, February 23rd. Finally, Jonestrading cut their price target on shares of New York Mortgage Trust from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Tuesday, February 22nd. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, New York Mortgage Trust currently has a consensus rating of “Hold” and an average price target of $4.25.
A number of hedge funds have recently made changes to their positions in NYMT. Raymond James Financial Services Advisors Inc. bought a new stake in shares of New York Mortgage Trust in the first quarter valued at approximately $37,000. NewEdge Advisors LLC bought a new stake in shares of New York Mortgage Trust in the fourth quarter valued at approximately $58,000. JustInvest LLC raised its position in shares of New York Mortgage Trust by 22.2% in the fourth quarter. JustInvest LLC now owns 16,141 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 2,933 shares during the period. Centaurus Financial Inc. bought a new stake in shares of New York Mortgage Trust in the first quarter valued at approximately $66,000. Finally, Eaton Vance Management raised its position in shares of New York Mortgage Trust by 18.9% in the first quarter. Eaton Vance Management now owns 21,272 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 3,388 shares during the period. 54.25% of the stock is currently owned by institutional investors and hedge funds.
About New York Mortgage Trust (Get Rating)
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, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.
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