NY MTG TR INC/SH (NASDAQ:NYMT) declared a quarterly dividend on Tuesday, December 4th, NASDAQ reports. Stockholders 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 annualized dividend 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. Equities research 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%.
NYMT traded up $0.01 during trading hours on Friday, hitting $6.19. 792,663 shares of the company’s stock were exchanged, compared to its average volume of 1,392,525. NY MTG TR INC/SH has a 1-year low of $5.35 and a 1-year high of $6.54. The stock has a market capitalization of $872.71 million, a price-to-earnings ratio of 9.38 and a beta of 0.97. The company has a current ratio of 88.96, a quick ratio of 88.95 and a debt-to-equity ratio of 13.55.
Several research analysts recently commented on NYMT shares. Zacks Investment Research upgraded shares of NY MTG TR INC/SH from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. BidaskClub upgraded shares of NY MTG TR INC/SH from a “sell” rating to a “hold” rating in a report on Friday, September 28th. ValuEngine upgraded shares of NY MTG TR INC/SH from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. 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. Finally, Maxim Group restated a “buy” rating and set a $6.75 target price on shares of NY MTG TR INC/SH in a report on Tuesday, November 6th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently 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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