New York Mortgage Trust (NASDAQ:NYMT) Posts Quarterly Earnings Results, Misses Expectations By $0.42 EPS

New York Mortgage Trust (NASDAQ:NYMT) issued its quarterly earnings results on Wednesday. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42), Zacks reports. New York Mortgage Trust had a positive return on equity of 0.87% and a negative net margin of 18.82%. The business had revenue of $83.89 million for the quarter, compared to analysts’ expectations of $19.64 million. During the same period in the prior year, the company earned $0.11 EPS.

New York Mortgage Trust Trading Down 10.8 %

NYMT stock traded down $0.76 during trading on Thursday, hitting $6.26. The company had a trading volume of 2,388,405 shares, compared to its average volume of 604,940. The firm has a 50-day moving average price of $7.10 and a 200-day moving average price of $7.85. New York Mortgage Trust has a 12 month low of $5.78 and a 12 month high of $10.63. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 4.21. The stock has a market cap of $571.10 million, a price-to-earnings ratio of -6.27 and a beta of 1.91.

New York Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, March 25th were issued a $0.20 dividend. The ex-dividend date was Friday, March 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.78%. New York Mortgage Trust’s dividend payout ratio is -80.81%.

Wall Street Analysts Forecast Growth

NYMT has been the topic of a number of recent research reports. B. Riley reissued a “buy” rating and issued a $11.00 target price (down previously from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th. StockNews.com upgraded New York Mortgage Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd.

About New York Mortgage Trust

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.