New York Mortgage Trust, Inc. (NYMT) to Issue Quarterly Dividend of $0.20 on October 28th

New York Mortgage Trust, Inc. (NASDAQ:NYMT) announced a quarterly dividend on Thursday, September 19th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 11.87%. The ex-dividend date is Monday, September 30th.

New York Mortgage Trust has raised its dividend by an average of 18.7% annually over the last three years. New York Mortgage Trust has a dividend 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

NYMT opened at $6.74 on Friday. The company 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 12-month low of $5.51 and a 12-month high of $9.67. The business’s fifty day simple moving average is $6.50 and its 200-day simple moving average is $6.51.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com downgraded shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Friday. Janney Montgomery Scott initiated coverage on shares of New York Mortgage Trust in a research note on Tuesday, August 13th. They set a “neutral” rating and a $7.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.