New York Mortgage Trust, Inc. (NYMT) To Go Ex-Dividend on March 31st

New York Mortgage Trust, Inc. (NASDAQ:NYMT) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend 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 dividend 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. Research 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 %

NYMT opened at $6.50 on Friday. The company has a debt-to-equity ratio of 8.33, a current ratio of 11.17 and a quick ratio of 8.25. The stock has a market capitalization of $588.69 million, a price-to-earnings ratio of -5.70 and a beta of 1.93. The business has a fifty day moving average price of $6.44 and a 200 day moving average price of $6.16. New York Mortgage Trust has a 12 month low of $5.14 and a 12 month high of $7.35.

New York Mortgage Trust (NASDAQ:NYMT) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.47). New York Mortgage Trust had a negative return on equity of 1.39% and a negative net margin of 15.46%. The firm had revenue of $26.71 million for the quarter, compared to analysts’ expectations of $20.06 million. Sell-side analysts expect that New York Mortgage Trust will post 0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

New York Mortgage Trust Company Profile

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.