New York Mortgage Trust, Inc. (NYMT) To Go Ex-Dividend on March 31st

New York Mortgage Trust, Inc. (NASDAQ:NYMT) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Investors of record on Monday, March 31st will be paid a dividend of 0.20 per share by the real estate investment trust on Monday, April 28th. This represents a $0.80 annualized dividend and a dividend yield of 11.78%. The ex-dividend date is Monday, March 31st.

New York Mortgage Trust has increased its dividend by an average of 30.1% annually over the last three years. New York Mortgage Trust has a dividend payout ratio of 106.7% meaning 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 $0.65 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

NASDAQ NYMT opened at $6.79 on Friday. The company has a quick ratio of 8.25, a current ratio of 11.17 and a debt-to-equity ratio of 8.33. The firm has a market cap of $614.95 million, a price-to-earnings ratio of -5.96 and a beta of 1.93. New York Mortgage Trust has a twelve month low of $5.14 and a twelve month high of $7.35. The business has a 50-day moving average price of $6.36 and a 200-day moving average price of $6.15.

New York Mortgage Trust (NASDAQ:NYMT) last posted its earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.47). The firm had revenue of $26.71 million during the quarter, compared to analysts’ expectations of $20.06 million. New York Mortgage Trust had a negative return on equity of 1.39% and a negative net margin of 15.46%. As a group, equities research analysts predict that New York Mortgage Trust will post 0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NYMT. B. Riley decreased their price objective on New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. StockNews.com upgraded New York Mortgage Trust from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.00.

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.