New York Mortgage Trust, Inc. (NASDAQ:NYMT) Plans $0.30 Quarterly Dividend

New York Mortgage Trust, Inc. (NASDAQ:NYMT) declared a quarterly dividend on Monday, September 11th, Zacks reports. Stockholders of record on Thursday, September 21st will be paid a dividend of 0.30 per share by the real estate investment trust on Thursday, October 26th. This represents a $1.20 annualized dividend and a dividend yield of 12.78%. The ex-dividend date is Wednesday, September 20th.

New York Mortgage Trust has decreased its dividend by an average of 20.6% annually over the last three years. New York Mortgage Trust has a payout ratio of 164.4% meaning 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 $0.95 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 126.3%.

New York Mortgage Trust Stock Performance

Shares of NYMT stock traded up $0.07 on Wednesday, hitting $9.39. The company had a trading volume of 143,970 shares, compared to its average volume of 610,267. The firm has a market cap of $856.84 million, a P/E ratio of -4.39 and a beta of 1.79. The company has a 50-day moving average price of $9.58 and a 200-day moving average price of $9.74. The company has a quick ratio of 8.73, a current ratio of 8.73 and a debt-to-equity ratio of 2.77. New York Mortgage Trust has a twelve month low of $8.28 and a twelve month high of $12.96.

Institutional Investors Weigh In On New York Mortgage Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC increased its stake in New York Mortgage Trust by 71.9% during the first quarter. Belpointe Asset Management LLC now owns 4,095 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,713 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in New York Mortgage Trust during the first quarter worth $37,000. LPL Financial LLC increased its stake in New York Mortgage Trust by 9.4% during the second quarter. LPL Financial LLC now owns 11,617 shares of the real estate investment trust’s stock worth $115,000 after acquiring an additional 997 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in New York Mortgage Trust during the second quarter worth $118,000. Finally, HBK Sorce Advisory LLC acquired a new stake in New York Mortgage Trust during the first quarter worth $191,000. Institutional investors and hedge funds own 52.98% of the company’s stock.

Analyst Upgrades and Downgrades

NYMT has been the subject of several analyst reports. StockNews.com cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. B. Riley lowered their price target on New York Mortgage Trust from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.67.

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.