New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating) declared a quarterly dividend on Friday, September 16th, investing.com reports. Stockholders of record on Monday, September 26th will be paid a dividend of 0.10 per share by the real estate investment trust on Wednesday, October 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 14.71%. The ex-dividend date of this dividend is Friday, September 23rd.
New York Mortgage Trust has decreased its dividend payment by an average of 20.6% per year over the last three years. New York Mortgage Trust has a payout ratio of 137.9% 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 New York Mortgage Trust to earn $0.36 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 111.1%.
New York Mortgage Trust Stock Down 1.8 %
NYMT opened at $2.72 on Thursday. New York Mortgage Trust has a 12 month low of $2.24 and a 12 month high of $4.50. The firm’s fifty day simple moving average is $2.91 and its 200 day simple moving average is $3.07. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 2.30.
Wall Street Analyst Weigh In
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of NYMT. Raymond James Financial Services Advisors Inc. acquired a new position in shares of New York Mortgage Trust during the 1st quarter worth about $37,000. Bank of New York Mellon Corp grew its stake in New York Mortgage Trust by 3.9% in the 1st quarter. Bank of New York Mellon Corp now owns 4,044,476 shares of the real estate investment trust’s stock valued at $14,763,000 after buying an additional 153,495 shares during the last quarter. MetLife Investment Management LLC grew its stake in New York Mortgage Trust by 71.3% in the 1st quarter. MetLife Investment Management LLC now owns 191,176 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 79,549 shares during the last quarter. Rhumbline Advisers grew its stake in New York Mortgage Trust by 0.3% in the 1st 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 last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in New York Mortgage Trust by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 326,981 shares of the real estate investment trust’s stock valued at $1,193,000 after buying an additional 40,316 shares during the last quarter. 54.74% of the stock is currently owned by institutional investors and hedge funds.
New York Mortgage Trust Company Profile
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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