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New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating) declared a dividend on Friday, June 17th, Fidelity reports. Investors of record on Monday, June 27th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, July 25th. The ex-dividend date is Friday, June 24th.
New York Mortgage Trust has decreased its dividend by an average of 20.6% per year over the last three years. New York Mortgage Trust has a payout ratio of 129.0% 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 New York Mortgage Trust to earn $0.29 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 137.9%.
NYMT stock traded up $0.09 during midday trading on Friday, reaching $2.36. The company had a trading volume of 13,986,733 shares, compared to its average volume of 3,677,131. The company has a market capitalization of $899.75 million, a price-to-earnings ratio of 47.20, a price-to-earnings-growth ratio of 7.08 and a beta of 1.77. The stock has a 50 day moving average price of $3.08 and a 200-day moving average price of $3.47. New York Mortgage Trust has a 1-year low of $2.24 and a 1-year high of $4.72. The company has a debt-to-equity ratio of 1.73, a current ratio of 4.03 and a quick ratio of 4.03.
New York Mortgage Trust (NASDAQ:NYMT – Get Rating) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.30). New York Mortgage Trust had a net margin of 31.18% and a return on equity of 7.42%. During the same period in the prior year, the firm posted $0.11 earnings per share. As a group, research analysts anticipate that New York Mortgage Trust will post 0.09 earnings per share for the current year.
A number of research analysts have issued reports on the company. StockNews.com cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. Keefe, Bruyette & Woods upgraded New York Mortgage Trust from a “market perform” rating to an “outperform” rating and set a $4.50 target price on the stock in a research report on Wednesday, February 23rd. Barclays decreased their target price on New York Mortgage Trust from $4.00 to $3.50 in a research report on Wednesday, April 27th. Bank of America reduced their price target on New York Mortgage Trust from $4.50 to $3.75 and set an “underperform” rating on the stock in a report on Wednesday, March 9th. Finally, Jonestrading reduced their price target on New York Mortgage Trust from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Tuesday, February 22nd. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat, New York Mortgage Trust currently has an average rating of “Hold” and an average price target of $4.25.
A number of hedge funds have recently made changes to their positions in the stock. JustInvest LLC boosted its holdings in New York Mortgage Trust by 22.2% in the fourth quarter. JustInvest LLC now owns 16,141 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 2,933 shares during the last quarter. Alliancebernstein L.P. lifted its stake in New York Mortgage Trust by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 533,855 shares of the real estate investment trust’s stock valued at $1,986,000 after buying an additional 3,314 shares during the period. Eaton Vance Management lifted its stake in New York Mortgage Trust by 18.9% in the first quarter. Eaton Vance Management now owns 21,272 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 3,388 shares during the period. Rhumbline Advisers lifted its stake in New York Mortgage Trust by 0.3% in the first quarter. Rhumbline Advisers now owns 1,101,292 shares of the real estate investment trust’s stock valued at $4,020,000 after buying an additional 3,657 shares during the period. Finally, Metropolitan Life Insurance Co NY lifted its stake in New York Mortgage Trust by 6.0% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 96,872 shares of the real estate investment trust’s stock valued at $360,000 after buying an additional 5,503 shares during the period. Institutional investors and hedge funds own 54.25% of the company’s stock.
New York Mortgage Trust Company Profile (Get Rating)
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, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.
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