New York Mortgage Trust Announces Quarterly Earnings Results

New York Mortgage Trust (NASDAQ:NYMT) reported its quarterly earnings on Wednesday, revealing a loss of ($0.44) per share. This result was significantly below the consensus estimate of $0.03, missing expectations by ($0.47). Alongside this earnings announcement, the company noted a return on equity of 0.48% and a net margin of 3.11%.

New York Mortgage Trust Price Performance

Following the earnings report, shares of New York Mortgage Trust declined by $0.07 during mid-day trading, bringing the stock price to $5.99. A total of 975,604 shares were traded, higher than the average trading volume of 547,968 shares. The company holds a market capitalization of $542.57 million, with a price-to-earnings (PE) ratio of -18.15 and a beta of 1.92. Currently, the stock's 50-day and 200-day moving averages stand at $6.04 and $6.09, respectively. It has a 52-week trading range with a low of $5.14 and a high of $7.57. Additionally, the company reported a quick ratio and a current ratio of 8.25, alongside a debt-to-equity ratio of 7.24.

New York Mortgage Trust Announces Dividend

Recently, New York Mortgage Trust disclosed a quarterly dividend of $0.20 per share, which was paid to stockholders on January 23rd. This translates to an annualized dividend of $0.80, yielding approximately 13.36%. The ex-dividend date was set for December 20th. Notably, the company's dividend payout ratio is currently at -242.42%, indicating that it is not paying dividends from its earnings, but rather relying on other financing methods.

Analyst Ratings Changes

In terms of analyst activity, several research firms have revised their outlook on New York Mortgage Trust's stock. For instance, B. Riley reduced its price target from $11.00 to $8.00 while maintaining a "buy" rating on the shares. Furthermore, StockNews.com upgraded its rating from "sell" to "hold". Overall, four analysts designated the stock with a hold rating, whereas one rated it as a buy. According to data from MarketBeat.com, the consensus rating remains at "Hold" with an average price target of $7.00.

About New York Mortgage Trust

Company Overview

New York Mortgage Trust, Inc. primarily focuses on acquiring, investing in, financing, and managing mortgage-related assets, including both single-family and multi-family residential properties in the United States. Their strategic investments comprise various categories, such as residential loans, structured multi-family property investments, non-agency and agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and single-family rental properties, among other credit-related assets.

Earnings, Stocks, Real Estate