NY MTG TR INC/SH (NASDAQ:NYMT) announced a quarterly dividend on Tuesday, December 4th, NASDAQ reports. Investors of record on Friday, December 14th will be given a dividend of 0.20 per share by the real estate investment trust on Friday, January 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.92%. The ex-dividend date of this dividend is Thursday, December 13th.
NY MTG TR INC/SH has decreased its dividend by an average of 8.0% annually over the last three years. NY MTG TR INC/SH has a payout ratio of 333.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect NY MTG TR INC/SH to earn $0.73 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 109.6%.
Shares of NYMT traded up $0.01 on Friday, reaching $6.19. 792,663 shares of the company’s stock were exchanged, compared to its average volume of 1,392,525. The company has a debt-to-equity ratio of 13.55, a current ratio of 88.96 and a quick ratio of 88.95. The company has a market cap of $872.71 million, a price-to-earnings ratio of 9.38 and a beta of 0.97. NY MTG TR INC/SH has a 12 month low of $5.35 and a 12 month high of $6.54.
NY MTG TR INC/SH (NASDAQ:NYMT) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. The business had revenue of $19.60 million during the quarter, compared to the consensus estimate of $17.10 million. NY MTG TR INC/SH had a net margin of 25.07% and a return on equity of 17.13%. As a group, analysts expect that NY MTG TR INC/SH will post 0.79 EPS for the current year.
A number of research firms recently weighed in on NYMT. ValuEngine raised shares of NY MTG TR INC/SH from a “sell” rating to a “hold” rating in a research note on Wednesday. BidaskClub downgraded shares of NY MTG TR INC/SH from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. Maxim Group restated a “buy” rating and set a $6.75 price objective on shares of NY MTG TR INC/SH in a report on Tuesday, November 6th. Finally, Raymond James started coverage on shares of NY MTG TR INC/SH in a report on Friday, October 12th. They set a “market perform” rating for the company. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. NY MTG TR INC/SH currently has a consensus rating of “Hold” and an average target price of $6.38.
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About NY MTG TR INC/SH
New York Mortgage Trust, Inc, a real estate investment trust (REIT), acquires, invests in, finances, and manages mortgage-related and residential housing-related, and financial assets in the United States. The company's investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets; non-agency residential mortgage-backed securities; multi-family commercial mortgage-backed securities; and preferred equities.
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