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

New York Mortgage Trust, Inc. (NASDAQ:NYMT) announced a quarterly dividend on Thursday, September 19th, Zacks reports. Investors of record on Monday, September 30th will be paid 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% per year 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 Price Performance

Shares of NASDAQ:NYMT opened at $6.74 on Friday. The company has a market cap of $614.88 million, a P/E ratio of -3.64 and a beta of 1.94. The company’s fifty day moving average is $6.50 and its two-hundred day moving average is $6.51. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 6.30. New York Mortgage Trust has a 12-month low of $5.51 and a 12-month high of $9.67.

Analyst Ratings Changes

Several research analysts have weighed in on NYMT shares. Janney Montgomery Scott started coverage on shares of New York Mortgage Trust in a research note on Tuesday, August 13th. They issued 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 report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New York Mortgage Trust currently has a consensus rating of “Hold” and an average price target of $7.75.

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.