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

New York Mortgage Trust, Inc. (NASDAQ:NYMT) declared a quarterly dividend on Thursday, September 19th, Zacks reports. Investors 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 annualized dividend and a dividend yield of 11.87%. 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 payout ratio of 195.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Down 1.6 %

NYMT opened at $6.74 on Friday. The business has a 50 day moving average of $6.50 and a 200-day moving average of $6.51. The stock has a market capitalization of $614.88 million, a price-to-earnings ratio of -3.64 and a beta of 1.94. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 6.30. New York Mortgage Trust has a 1-year low of $5.51 and a 1-year high of $9.67.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NYMT shares. Janney Montgomery Scott began coverage on shares of New York Mortgage Trust in a report on Tuesday, August 13th. They set a “neutral” rating and a $7.00 price objective on the stock. StockNews.com lowered New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.