New York Mortgage Trust, Inc. (NYMT) to Issue Quarterly Dividend of $0.20 on October 28th

New York Mortgage Trust, Inc. (NASDAQ:NYMT) declared a quarterly dividend on Thursday, September 19th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.20 per share by the real estate investment trust on Monday, October 28th. This represents a $0.80 dividend on an annualized basis and a yield of 12.25%. The ex-dividend date of this dividend is Monday, September 30th.

New York Mortgage Trust has raised its dividend payment by an average of 18.7% annually over the last three years. New York Mortgage Trust has a dividend payout ratio of 195.1% 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 analysts expect New York Mortgage Trust to earn $0.64 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 125.0%.

New York Mortgage Trust Trading Down 0.6 %

NYMT stock opened at $6.53 on Friday. New York Mortgage Trust has a 52 week low of $5.51 and a 52 week high of $9.67. The company has a market cap of $595.72 million, a price-to-earnings ratio of -3.53 and a beta of 1.94. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 6.30. The business has a fifty day simple moving average of $6.49 and a 200-day simple moving average of $6.49.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NYMT shares. Janney Montgomery Scott initiated coverage on shares of New York Mortgage Trust in a research report on Tuesday, August 13th. They set a “neutral” rating and a $7.00 price target for the company. StockNews.com raised New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Saturday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.75.

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.