New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Free Report) 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.
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.
Check Out Our Latest Stock Analysis on NYMT
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.
Featured Articles
- Five stocks we like better than New York Mortgage Trust
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Stock Impact: McDonald’s Price War with Starbucks, Wendy’s
- Buy P&G Now, Before It Sets A New All-Time High
- General Mills Q4 Sales Miss Expectations, Triggering Stock Drop
- Following Congress Stock Trades
- Enovix Stock Rises 35% in Short-Squeeze: This Rally Has Legs
Receive News & Ratings for New York Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.