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

New York Mortgage Trust, Inc. (NASDAQ:NYMT) declared a quarterly dividend on Tuesday, June 18th, Zacks reports. Stockholders of record on Friday, June 28th will be given 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 dividend yield of 13.03%. The ex-dividend date of this dividend is Thursday, June 27th.

New York Mortgage Trust has increased its dividend by an average of 18.7% annually over the last three years. New York Mortgage Trust has a payout ratio of 148.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Down 0.6 %

NASDAQ:NYMT traded down $0.04 during mid-day trading on Wednesday, reaching $6.14. 448,519 shares of the company’s stock traded hands, compared to its average volume of 626,598. New York Mortgage Trust has a 12-month low of $5.65 and a 12-month high of $10.63. The firm has a market capitalization of $560.15 million, a price-to-earnings ratio of -3.30 and a beta of 1.91. The company has a debt-to-equity ratio of 5.03, a current ratio of 4.02 and a quick ratio of 4.02. The company has a 50 day moving average price of $6.26 and a 200-day moving average price of $7.23.

New York Mortgage Trust (NASDAQ:NYMT) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42). New York Mortgage Trust had a negative net margin of 44.65% and a negative return on equity of 2.60%. The business had revenue of $83.89 million for the quarter, compared to analysts’ expectations of $19.64 million. During the same quarter in the prior year, the firm earned $0.11 EPS. On average, sell-side analysts predict that New York Mortgage Trust will post -0.46 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on NYMT. UBS Group reduced their price target on New York Mortgage Trust from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Keefe, Bruyette & Woods reduced their target price on 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 downgraded New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, B. Riley reiterated a “buy” rating and set a $11.00 target price (down previously from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th.

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.