New York Mortgage Trust, Inc. Plans Dividend of $0.10 (NASDAQ:NYMT)

New York Mortgage Trust, Inc. (NASDAQ:NYMTGet Rating) announced a dividend on Friday, June 17th, Fidelity reports. Stockholders of record on Monday, June 27th will be paid a dividend of 0.10 per share by the real estate investment trust on Monday, July 25th. The ex-dividend date of this dividend is Friday, June 24th.

New York Mortgage Trust has decreased its dividend payment by an average of 20.6% per year over the last three years. New York Mortgage Trust has a dividend payout ratio of 129.0% 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 $0.29 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 137.9%.

NASDAQ NYMT traded up $0.09 during trading hours on Friday, hitting $2.36. 13,986,733 shares of the stock were exchanged, compared to its average volume of 3,677,131. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 1.73. The stock has a 50-day moving average of $3.08 and a 200 day moving average of $3.47. New York Mortgage Trust has a 12-month low of $2.24 and a 12-month high of $4.72. The company has a market cap of $899.75 million, a price-to-earnings ratio of 47.20, a price-to-earnings-growth ratio of 7.08 and a beta of 1.77.

New York Mortgage Trust (NASDAQ:NYMTGet Rating) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.30). New York Mortgage Trust had a return on equity of 7.42% and a net margin of 31.18%. During the same quarter in the previous year, the company earned $0.11 earnings per share. On average, equities research analysts expect that New York Mortgage Trust will post 0.09 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in NYMT. Invesco Ltd. raised its position in shares of New York Mortgage Trust by 26.5% in the 1st quarter. Invesco Ltd. now owns 6,009,670 shares of the real estate investment trust’s stock valued at $21,935,000 after acquiring an additional 1,259,010 shares during the period. State Street Corp raised its position in shares of New York Mortgage Trust by 8.6% in the 1st quarter. State Street Corp now owns 14,478,874 shares of the real estate investment trust’s stock valued at $54,204,000 after acquiring an additional 1,144,802 shares during the period. Vanguard Group Inc. raised its position in shares of New York Mortgage Trust by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 25,413,787 shares of the real estate investment trust’s stock valued at $92,760,000 after acquiring an additional 714,954 shares during the period. Deutsche Bank AG raised its position in shares of New York Mortgage Trust by 140.8% in the 4th quarter. Deutsche Bank AG now owns 636,197 shares of the real estate investment trust’s stock valued at $2,367,000 after acquiring an additional 372,040 shares during the period. Finally, First Trust Advisors LP raised its position in shares of New York Mortgage Trust by 9.3% in the 1st quarter. First Trust Advisors LP now owns 2,869,603 shares of the real estate investment trust’s stock valued at $10,474,000 after acquiring an additional 243,875 shares during the period. Institutional investors own 54.25% of the company’s stock.

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. Barclays cut their target price on shares of New York Mortgage Trust from $4.00 to $3.50 in a research note on Wednesday, April 27th. Keefe, Bruyette & Woods upgraded shares of New York Mortgage Trust from a “market perform” rating to an “outperform” rating and set a $4.50 target price for the company in a research note on Wednesday, February 23rd. Jonestrading cut their target price on shares of New York Mortgage Trust from $5.00 to $4.50 and set a “buy” rating for the company in a research note on Tuesday, February 22nd. Finally, Bank of America cut their target price on shares of New York Mortgage Trust from $4.50 to $3.75 and set an “underperform” rating for the company in a research note on Wednesday, March 9th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, New York Mortgage Trust currently has an average rating of “Hold” and an average target price of $4.25.

New York Mortgage Trust Company Profile (Get Rating)

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.

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Dividend History for New York Mortgage Trust (NASDAQ:NYMT)

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