New York Mortgage Trust, Inc. (NYMT) To Go Ex-Dividend on December 20th

New York Mortgage Trust, Inc. (NASDAQ:NYMT) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.20 per share by the real estate investment trust on Thursday, January 23rd. This represents a $0.80 annualized dividend and a yield of 12.56%. The ex-dividend date of this dividend is Friday, December 20th.

New York Mortgage Trust has increased its dividend payment by an average of 18.7% annually over the last three years. New York Mortgage Trust has a dividend payout ratio of 142.9% indicating that 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 $0.61 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 131.1%.

New York Mortgage Trust Trading Down 2.3 %

Shares of NYMT stock opened at $6.37 on Wednesday. The company has a market capitalization of $576.99 million, a PE ratio of -19.30 and a beta of 1.94. New York Mortgage Trust has a 52-week low of $5.14 and a 52-week high of $9.02. The business’s fifty day moving average is $5.88 and its 200 day moving average is $6.15. The company has a debt-to-equity ratio of 7.24, a quick ratio of 8.25 and a current ratio of 8.25.

Analysts Set New Price Targets

Separately, StockNews.com downgraded New York Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, New York Mortgage Trust presently has a consensus rating of “Hold” and a consensus price target of $7.75.

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.