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

New York Mortgage Trust, Inc. (NASDAQ:NYMT - Get Free Report) declared a quarterly dividend on Thursday, June 12th, RTT News reports. Shareholders of record on Monday, June 23rd will be given a dividend of 0.20 per share by the real estate investment trust on Wednesday, July 30th. This represents a $0.80 dividend on an annualized basis and a yield of 11.80%. The ex-dividend date is Monday, June 23rd.

New York Mortgage Trust has a payout ratio of 96.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. 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 Stock Performance

Shares of NYMT stock traded down $0.07 during trading hours on Monday, hitting $6.78. 707,894 shares of the company were exchanged, compared to its average volume of 697,230. The company has a current ratio of 11.17, a quick ratio of 8.25 and a debt-to-equity ratio of 8.33. The stock has a market capitalization of $612.22 million, a price-to-earnings ratio of -5.95 and a beta of 1.28. The firm has a fifty day simple moving average of $6.28 and a 200 day simple moving average of $6.28. New York Mortgage Trust has a 52-week low of $5.02 and a 52-week high of $7.27.

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. The business had revenue of $33.10 million during the quarter, compared to analyst estimates of $27.84 million. New York Mortgage Trust had a negative return on equity of 1.39% and a negative net margin of 15.46%. Research analysts predict that New York Mortgage Trust will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New York Mortgage Trust

A hedge fund recently bought a new stake in New York Mortgage Trust stock. Strs Ohio purchased a new position in New York Mortgage Trust, Inc. (NASDAQ:NYMT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,300 shares of the real estate investment trust's stock, valued at approximately $106,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. B. Riley boosted their price objective on New York Mortgage Trust from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of New York Mortgage Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Jones Trading restated a "buy" rating and set a $7.50 price target on shares of New York Mortgage Trust in a research note on Friday, May 2nd.

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.