NY MTG TR INC/SH (NASDAQ:NYMT) announced 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 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 dividend payout ratio of 333.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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%.
NASDAQ:NYMT traded up $0.01 during midday trading on Friday, hitting $6.19. 792,663 shares of the company were exchanged, compared to its average volume of 1,392,525. NY MTG TR INC/SH has a fifty-two week low of $5.35 and a fifty-two week high of $6.54. 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 firm has a market capitalization of $872.71 million, a P/E ratio of 9.38 and a beta of 0.97.
NY MTG TR INC/SH (NASDAQ:NYMT) last announced its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.05. NY MTG TR INC/SH had a net margin of 25.07% and a return on equity of 17.13%. The firm had revenue of $19.60 million for the quarter, compared to analyst estimates of $17.10 million. On average, sell-side analysts anticipate that NY MTG TR INC/SH will post 0.79 EPS for the current year.
A number of research firms have commented on NYMT. Zacks Investment Research upgraded shares of NY MTG TR INC/SH from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. BidaskClub lowered shares of NY MTG TR INC/SH from a “hold” rating to a “sell” rating in a research note on Saturday, September 15th. Maxim Group restated a “buy” rating and issued a $6.75 price objective on shares of NY MTG TR INC/SH in a research note on Tuesday, November 6th. Finally, ValuEngine upgraded shares of NY MTG TR INC/SH from a “sell” rating to a “hold” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has given 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.
See Also: Diversification
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