New York Mortgage Trust, Inc. (NASDAQ:NYMT) announced a quarterly dividend on Monday, September 13th, Zacks reports. Shareholders of record on Thursday, September 23rd will be paid a dividend of 0.10 per share by the real estate investment trust on Monday, October 25th. This represents a $0.40 annualized dividend and a yield of 9.35%. The ex-dividend date is Wednesday, September 22nd.
New York Mortgage Trust has decreased its dividend by 71.9% over the last three years and has increased its dividend annually for the last 1 consecutive years.
Shares of NYMT stock opened at $4.28 on Wednesday. New York Mortgage Trust has a fifty-two week low of $2.41 and a fifty-two week high of $4.93. The stock has a 50 day moving average price of $4.35 and a two-hundred day moving average price of $4.46. The company has a market capitalization of $1.62 billion, a P/E ratio of 6.79 and a beta of 1.93.
A number of equities analysts recently commented on the company. Bank of America restated an “underperform” rating and set a $4.50 target price on shares of New York Mortgage Trust in a report on Monday, May 24th. Zacks Investment Research upgraded New York Mortgage Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 9th. Finally, BTIG Research restated a “hold” rating on shares of New York Mortgage Trust in a report on Wednesday, June 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.94.
About New York Mortgage Trust
New York Mortgage Trust, Inc is a real estate investment trust, which engages in the acquisition, investment, finance and management of mortgage-related and residential housing-related assets. Its objective is to deliver long-term stable distributions to its stockholders over changing economic conditions through a combination of net interest margin and capital gains from a diversified investment portfolio.
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