NY MTG TR INC/SH (NYMT) Declares Quarterly Dividend of $0.20

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.

COPYRIGHT VIOLATION WARNING: This news story was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.chaffeybreeze.com/2018/12/08/ny-mtg-tr-inc-sh-nymt-declares-quarterly-dividend-of-0-20.html.

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

Dividend History for NY MTG TR INC/SH (NASDAQ:NYMT)

Receive News & Ratings for NY MTG TR INC/SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NY MTG TR INC/SH and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply