NY MTG TR INC/SH (NASDAQ:NYMT) announced a quarterly dividend on Monday, September 9th, Zacks reports. Investors of record on Thursday, September 19th will be given a dividend of 0.20 per share by the real estate investment trust on Friday, October 25th. This represents a $0.80 dividend on an annualized basis and a yield of 13.16%. The ex-dividend date is Wednesday, September 18th.
NY MTG TR INC/SH has decreased its dividend payment by an average of 8.7% annually over the last three years. NY MTG TR INC/SH has a dividend 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%.
NASDAQ:NYMT traded down $0.20 on Wednesday, reaching $6.08. The stock had a trading volume of 996,987 shares, compared to its average volume of 1,774,523. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 7.07 and a beta of 0.78. The company has a debt-to-equity ratio of 13.59, a current ratio of 116.34 and a quick ratio of 116.34. The firm’s fifty day moving average is $6.17 and its two-hundred day moving average is $6.15. NY MTG TR INC/SH has a 12-month low of $5.58 and a 12-month high of $6.44.
NY MTG TR INC/SH (NASDAQ:NYMT) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.08). The firm had revenue of $25.69 million for the quarter, compared to analysts’ expectations of $32.90 million. NY MTG TR INC/SH had a return on equity of 10.99% and a net margin of 18.56%. As a group, research analysts forecast that NY MTG TR INC/SH will post 0.72 earnings per share for the current fiscal year.
Several analysts have commented on the stock. Nomura lifted their target price on shares of NY MTG TR INC/SH from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. BidaskClub lowered NY MTG TR INC/SH from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. LADENBURG THALM/SH SH upgraded NY MTG TR INC/SH from a “neutral” rating to a “buy” rating in a report on Tuesday, August 6th. Maxim Group set a $7.00 price objective on NY MTG TR INC/SH and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Zacks Investment Research upgraded NY MTG TR INC/SH from a “hold” rating to a “strong-buy” rating and set a $7.00 target price for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $6.50.
In related news, Director Alan L. Hainey sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $6.27, for a total value of $62,700.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.
About NY MTG TR INC/SH
New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related and residential housing-related assets in the United States. Its investment portfolio includes structured multi-family property investments, such as multi-family commercial mortgage-backed securities and preferred equity in, and mezzanine loans to owners of multi-family properties; residential mortgage loans, including distressed residential mortgage loans, non- qualified mortgage loans, second mortgages, and other residential mortgage loans; non-agency residential mortgage-backed securities (RMBS); agency RMBS; and other mortgage-related and residential housing-related assets.
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