NYMT

UBS Initiates Coverage of New York Mortgage Trust (NYMT) with Neutral Recommendation

Fintel reports that on December 6, 2023, UBS initiated coverage of New York Mortgage Trust (NASDAQ:NYMT) with a Neutral recommendation.

Analyst Price Forecast Suggests 28.76% Upside

As of November 27, 2023, the average one-year price target for New York Mortgage Trust is 11.73. The forecasts range from a low of 8.58 to a high of $15.75. The average price target represents an increase of 28.76% from its latest reported closing price of 9.11.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for New York Mortgage Trust is 103MM, a decrease of 1.87%. The projected annual non-GAAP EPS is 0.17.

New York Mortgage Trust Declares $0.30 Dividend

On September 11, 2023 the company declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of September 21, 2023 received the payment on October 26, 2023. Previously, the company paid $0.30 per share.

At the current share price of $9.11 / share, the stock's dividend yield is 13.17%.

Looking back five years and taking a sample every week, the average dividend yield has been 12.52%, the lowest has been 6.99%, and the highest has been 42.33%. The standard deviation of yields is 3.45 (n=226).

The current dividend yield is 0.19 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -0.85. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

What is the Fund Sentiment?

There are 374 funds or institutions reporting positions in New York Mortgage Trust. This is an increase of 13 owner(s) or 3.60% in the last quarter. Average portfolio weight of all funds dedicated to NYMT is 0.11%, an increase of 23.97%. Total shares owned by institutions increased in the last three months by 0.58% to 56,557K shares. NYMT / New York Mortgage Trust Inc Put/Call Ratios The put/call ratio of NYMT is 0.21, indicating a bullish outlook.

What are Other Shareholders Doing?

NYMT / New York Mortgage Trust Inc Shares Held by Institutions

IJR - iShares Core S&P Small-Cap ETF holds 6,163K shares representing 6.80% ownership of the company. In it's prior filing, the firm reported owning 6,393K shares, representing a decrease of 3.74%. The firm decreased its portfolio allocation in NYMT by 14.42% over the last quarter.

Allspring Global Investments Holdings holds 3,694K shares representing 4.07% ownership of the company. In it's prior filing, the firm reported owning 3,710K shares, representing a decrease of 0.43%. The firm decreased its portfolio allocation in NYMT by 9.34% over the last quarter.

ESPAX - Wells Fargo Special Small Cap Value Fund holds 3,020K shares representing 3.33% ownership of the company. In it's prior filing, the firm reported owning 3,008K shares, representing an increase of 0.39%. The firm decreased its portfolio allocation in NYMT by 9.09% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,826K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 2,849K shares, representing a decrease of 0.81%. The firm decreased its portfolio allocation in NYMT by 11.88% over the last quarter.

IWM - iShares Russell 2000 ETF holds 2,121K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 2,091K shares, representing an increase of 1.39%. The firm decreased its portfolio allocation in NYMT by 9.20% over the last quarter.

New York Mortgage Trust Background Information
(This description is provided by the company.)

New York Mortgage Trust, Inc. is a Maryland corporation that has elected to be taxed as a real estate investment trust for federal income tax purposes. NYMT is an internally managed REIT in the business of acquiring, investing in, financing and managing primarily mortgage-related single-family and multi-family residential assets.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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