New York Mortgage Trust, Inc. plans quarterly dividend of $0.20 (NASDAQ:NYMT)

New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Free Report ) 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 an annualized dividend of $0.80 and a dividend yield of 11.87%. The ex-dividend date of this dividend is Monday, September 30.

New York Mortgage Trust has increased its dividend payout 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 cover its dividend with earnings alone and relies on its balance sheet to cover its dividend payments. Equities analysts expect that New York Mortgage Trust will earn $0.64 per share next year, which means the company may not be able to cover the $0.80 annual dividend with an estimated future payout ratio of 125.0 %.

New York Mortgage Trust stock fell 1.6%

NYMT opened at $6.74 on Friday. The company has a 50-day moving average of $6.50 and a 200-day moving average of $6.51. The stock has a market cap 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.

The Wall Street analyst weighs in

Several research analysts recently issued reports on NYMT shares. Janney Montgomery Scott started 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 currently has an average rating of “Hold” and an average target price of $7.75.

Read the latest stock report on the NYMT

About New York Mortgage Trust

(Get a free report)

New York Mortgage Trust, Inc acquires, invests in, finances and manages single-family and multi-family residential mortgage-related assets in the United States. Its targeted investments include residential loans, including business loans; structured investments in multifamily properties such as preferred equity and mezzanine loans for multifamily property owners; residential mortgage-backed securities (RMBS); RMBS agency; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgages, residential housing and credit-related assets.

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