New York Mortgage Trust, Inc. (NASDAQ: NYMT – Get a rating) announced a dividend on Friday, June 17, loyalty reports. Shareholders of record on Monday, June 27 will receive a dividend of 0.10 per share from the real estate investment trust on Monday, July 25. The ex-dividend date is Friday, June 24.
New York Mortgage Trust has decreased its dividend payout by an average of 20.6% per year over the past 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 relies on its balance sheet to cover its dividend payments. Research analysts expect New York Mortgage Trust to earn $0.29 per share next year, meaning the company may not be able to cover its $0.40 annual dividend with a expected future payout ratio of 137.9%.
The NASDAQ NYMT rose $0.09 during Friday trading hours, hitting $2.36. 13,986,733 shares were traded, against an average volume of 3,677,131. The company has a quick ratio of 4.03, a current ratio of 4.03 and a leverage 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 growth price-to-earnings ratio of 7.08, and a beta of 1.77.
New York Mortgage Trust (NASDAQ: NYMT – Get a rating) last reported results on Tuesday, May 3. The real estate investment trust reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.08 per ($0.30). New York Mortgage Trust had a return on equity of 7.42% and a net margin of 31.18%. In the same quarter of the previous year, the company had earned earnings per share of $0.11. On average, equity research analysts expect New York Mortgage Trust to post earnings per share of 0.09 for the current year.
A number of institutional investors have recently increased or reduced their stake in NYMT. Invesco Ltd. increased 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 valued at $21,935,000 after acquiring an additional 1,259,010 shares during the period. State Street Corp raised its position in New York Mortgage Trust shares by 8.6% in the first quarter. State Street Corp now owns 14,478,874 shares of the REIT valued at $54,204,000 after acquiring an additional 1,144,802 shares during the period. Vanguard Group Inc. raised its position in New York Mortgage Trust shares by 2.9% in the first quarter. Vanguard Group Inc. now owns 25,413,787 shares of the real estate investment trust worth $92,760,000 after acquiring an additional 714,954 shares during the period. Deutsche Bank AG raised its position in New York Mortgage Trust shares by 140.8% in the fourth quarter. Deutsche Bank AG now owns 636,197 shares of the real estate investment trust valued at $2,367,000 after acquiring an additional 372,040 shares during the period. Finally, First Trust Advisors LP increased its position in New York Mortgage Trust shares by 9.3% in the 1st quarter. First Trust Advisors LP now owns 2,869,603 shares of the real estate investment trust valued at $10,474,000 after acquiring an additional 243,875 shares during the period. Institutional investors hold 54.25% of the company’s shares.
A number of analysts have weighed in on the stock recently. StockNews.com cut New York Mortgage Trust shares from a “hold” rating to a “sell” rating in a Tuesday, May 10 research note. Barclays cut its price target on New York Mortgage Trust shares from $4.00 to $3.50 in a Wednesday, April 27 research note. Keefe, Bruyette & Woods upgraded New York Mortgage Trust shares from a “market performance” rating to an “outperform” rating and set a target price of $4.50 for the company in a rating. research from Wednesday, February 23. Jonestrading cut its price target on New York Mortgage Trust shares from $5.00 to $4.50 and set a “buy” rating for the company in a Tuesday, February 22 research note. Finally, Bank of America cut its price target on New York Mortgage Trust shares from $4.50 to $3.75 and set an “underperform” rating for the company in a Wednesday research note. March 9. Two investment analysts gave the stock a sell rating and three gave the company a buy rating. 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 a rating)
New York Mortgage Trust, Inc. acquires, invests, finances and manages single-family and multi-family residential mortgage-related assets in the United States. Its focused investments include residential loans, second mortgages and business loans; structured multifamily real estate investments, such as preferred stock and mezzanine loans to owners of multifamily properties, as well as joint venture equity investments in multifamily properties; residential non-agency mortgage-backed securities (RMBS); Agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgages, residential housing and credit-related assets.
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