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, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was incorporated in 2003 and is headquartered in New York, New York.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on NYMT shares. StockNews.com downgraded New York Mortgage Trust from a "hold" rating to a "sell" rating in a research note on Tuesday, May 10th. Jonestrading decreased their price target on New York Mortgage Trust from $4.25 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, August 4th. Credit Suisse Group decreased their price target on New York Mortgage Trust to $3.50 in a research note on Friday, July 22nd. Barclays decreased their price target on New York Mortgage Trust from $3.50 to $3.00 and set an "equal weight" rating on the stock in a research note on Monday, July 18th. Finally, TheStreet downgraded New York Mortgage Trust from a "c-" rating to a "d+" rating in a research note on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, New York Mortgage Trust presently has an average rating of "Hold" and a consensus target price of $3.71.
New York Mortgage Trust Price Performance
NYMT remained flat at $3.05 during trading on Thursday. The company's stock had a trading volume of 51,841 shares, compared to its average volume of 2,401,743. The stock's 50-day moving average price is $2.84 and its 200 day moving average price is $3.21. The company has a debt-to-equity ratio of 2.30, a quick ratio of 3.87 and a current ratio of 3.87. New York Mortgage Trust has a one year low of $2.24 and a one year high of $4.50.
New York Mortgage Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, June 27th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 24th. This represents a $0.40 annualized dividend and a dividend yield of 13.11%. New York Mortgage Trust's dividend payout ratio is currently -142.85%.