New York Mortgage Trust, Inc. (NYMT) To Go Ex-Dividend on June 27th

New York Mortgage Trust, Inc. (NASDAQ:NYMT) announced a quarterly dividend on Tuesday, June 18th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.20 per share by the real estate investment trust on Monday, July 29th. This represents a $0.80 annualized dividend and a yield of 13.09%. The ex-dividend date is Thursday, June 27th.

New York Mortgage Trust has raised its dividend by an average of 18.7% annually over the last three years. New York Mortgage Trust has a dividend payout ratio of 148.1% meaning 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 $0.59 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 135.6%.

New York Mortgage Trust Price Performance

NYMT stock traded down $0.07 on Wednesday, hitting $6.11. 394,075 shares of the company’s stock traded hands, compared to its average volume of 626,151. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 5.03. The stock has a market cap of $557.42 million, a price-to-earnings ratio of -3.30 and a beta of 1.91. The stock has a fifty day moving average of $6.26 and a 200-day moving average of $7.23. New York Mortgage Trust has a 1-year low of $5.65 and a 1-year high of $10.63.

New York Mortgage Trust (NASDAQ:NYMT) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42). The company had revenue of $83.89 million during the quarter, compared to analysts’ expectations of $19.64 million. New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. During the same period last year, the company earned $0.11 earnings per share. On average, analysts forecast that New York Mortgage Trust will post -0.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. B. Riley restated a “buy” rating and issued a $11.00 target price (down from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th. Keefe, Bruyette & Woods dropped their target price on shares of New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. StockNews.com cut shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, UBS Group dropped their price objective on New York Mortgage Trust from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th.

New York Mortgage Trust Company Profile

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.