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

New York Mortgage Trust, Inc. (NASDAQ:NYMT) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Monday, April 28th. This represents a $0.80 annualized dividend and a yield of 12.31%. The ex-dividend date of this dividend is Monday, March 31st.

New York Mortgage Trust has increased its dividend payment by an average of 30.1% per year over the last three years. New York Mortgage Trust has a payout ratio of 108.1% 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 $0.65 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 123.1%.

New York Mortgage Trust Trading Down 2.3 %

Shares of New York Mortgage Trust stock opened at $6.50 on Friday. The company’s fifty day moving average is $6.44 and its two-hundred day moving average is $6.16. New York Mortgage Trust has a 1 year low of $5.14 and a 1 year high of $7.35. The company has a debt-to-equity ratio of 8.33, a quick ratio of 8.25 and a current ratio of 11.17. The company has a market capitalization of $588.69 million, a P/E ratio of -5.70 and a beta of 1.93.

New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.47). New York Mortgage Trust had a negative net margin of 15.46% and a negative return on equity of 1.39%. The company had revenue of $26.71 million during the quarter, compared to analyst estimates of $20.06 million. Analysts forecast that New York Mortgage Trust will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

NYMT has been the subject of several analyst reports. StockNews.com upgraded New York Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Sunday, March 2nd. B. Riley reduced their target price on shares of New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and one has given 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 $7.00.

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.