New York Mortgage Trust Hits New 1-Year High After Dividend Announcement (NYMT)
Shares of New York Mortgage Trust (NASDAQ:NYMT) hit a new 52-week high on Thursday after the company announced a dividend, Analyst Ratings Net reports. The stock traded as high as $8.17 and last traded at $8.14, with a volume of 959,881 shares changing hands. The stock had previously closed at $8.12.
The newly announced dividend is scheduled for Friday, July 25th. Investors of record on Monday, June 30th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 13.30%.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of New York Mortgage Trust in a research note on Thursday, May 8th. They now have a $8.00 price target on the stock, up previously from $7.75. Separately, analysts at Zacks upgraded shares of New York Mortgage Trust from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $7.50 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of New York Mortgage Trust in a research note on Monday, April 14th. They now have a $7.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus price target of $7.53.
The stock’s 50-day moving average is $7.78 and its 200-day moving average is $7.44. The company has a market cap of $737.0 million and a P/E ratio of 7.44.
New York Mortgage Trust (NASDAQ:NYMT) last released its earnings data on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.03.
New York Mortgage Trust, Inc (NASDAQ:NYMT), together with its consolidated subsidiaries, is a self-advised real estate investment trust (REIT).
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