New York Mortgage Trust (NASDAQ:NYMT) Releases Quarterly Earnings Results, Misses Estimates By $0.42 EPS

New York Mortgage Trust (NASDAQ:NYMT) posted its quarterly earnings results on Wednesday. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.42), Zacks reports. New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. The business had revenue of $83.89 million during the quarter, compared to analysts’ expectations of $19.64 million. During the same period in the prior year, the business posted $0.11 earnings per share.

New York Mortgage Trust Trading Down 0.9 %

NYMT stock traded down $0.05 during mid-day trading on Friday, hitting $6.21. 1,433,394 shares of the company were exchanged, compared to its average volume of 678,898. New York Mortgage Trust has a 12-month low of $5.78 and a 12-month high of $10.63. The firm has a market capitalization of $566.54 million, a P/E ratio of -3.36 and a beta of 1.91. The business has a fifty day simple moving average of $7.06 and a 200-day simple moving average of $7.82. The company has a quick ratio of 4.29, a current ratio of 4.02 and a debt-to-equity ratio of 5.03.

New York Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, March 25th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $0.80 annualized dividend and a yield of 12.88%. New York Mortgage Trust’s dividend payout ratio (DPR) is currently -43.24%.

Wall Street Analysts Forecast Growth

NYMT has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their target price on New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating on the stock in a report on Friday. B. Riley restated a “buy” rating and issued a $11.00 target price (down from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th. Finally, StockNews.com lowered New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Friday.

About New York Mortgage Trust

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, including business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgage, residential housing, and credit-related assets.