New York Mortgage Trust, Inc. (NASDAQ:NYMT) Declares $0.20 Quarterly Dividend

New York Mortgage Trust, Inc. (NASDAQ:NYMT) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be given a dividend of 0.20 per share by the real estate investment trust on Thursday, January 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.56%. The ex-dividend date of this dividend is Friday, December 20th.

New York Mortgage Trust has increased 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 142.9% 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 $0.61 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 131.1%.

New York Mortgage Trust Stock Down 2.3 %

NASDAQ NYMT opened at $6.37 on Wednesday. New York Mortgage Trust has a 1 year low of $5.14 and a 1 year high of $9.02. The stock has a market capitalization of $576.99 million, a PE ratio of -19.30 and a beta of 1.94. The company has a debt-to-equity ratio of 7.24, a current ratio of 8.25 and a quick ratio of 8.25. The business’s 50-day moving average is $5.88 and its 200 day moving average is $6.15.

Wall Street Analyst Weigh In

Separately, StockNews.com cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.75.

About New York Mortgage Trust

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.