Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 24.97MM shares of New York Mortgage Trust Inc (NYMT). This represents 6.73% of the company.
In their previous filing dated February 10, 2022 they reported 24.70MM shares and 6.51% of the company, an increase in shares of 1.09% and an increase in total ownership of 0.22% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 14.98% Upside
As of February 7, 2023, the average one-year price target for New York Mortgage Trust is $3.46. The forecasts range from a low of $2.52 to a high of $5.25. The average price target represents an increase of 14.98% from its latest reported closing price of $3.01.
The projected annual revenue for New York Mortgage Trust is $103MM. The projected annual EPS is $0.17.
What is the Fund Sentiment?
There are 447 funds or institutions reporting positions in New York Mortgage Trust. This is a decrease of 17 owner(s) or 3.66% in the last quarter. Average portfolio weight of all funds dedicated to NYMT is 0.10%, a decrease of 8.81%. Total shares owned by institutions decreased in the last three months by 3.28% to 231,062K shares. The put/call ratio of NYMT is 0.26, indicating a bullish outlook.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 27,672K shares representing 7.46% ownership of the company. In it's prior filing, the firm reported owning 26,713K shares, representing an increase of 3.47%. The firm decreased its portfolio allocation in NYMT by 10.86% over the last quarter.
Allspring Global Investments Holdings holds 14,598K shares representing 3.93% ownership of the company. In it's prior filing, the firm reported owning 14,345K shares, representing an increase of 1.73%. The firm decreased its portfolio allocation in NYMT by 54.29% over the last quarter.
ESPAX - Wells Fargo Special Small Cap Value Fund holds 11,637K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 11,419K shares, representing an increase of 1.88%. The firm decreased its portfolio allocation in NYMT by 4.95% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 11,627K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 11,303K shares, representing an increase of 2.79%. The firm decreased its portfolio allocation in NYMT by 9.09% over the last quarter.
IWM - iShares Russell 2000 ETF holds 8,414K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 8,690K shares, representing a decrease of 3.28%. The firm decreased its portfolio allocation in NYMT by 11.09% over the last quarter.
New York Mortgage Trust Declares $0.10 Dividend
On September 16, 2022 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of September 23, 2022 received the payment on October 26, 2022. Previously, the company paid $0.10 per share.
At the current share price of $3.01 / share, the stock's dividend yield is 13.29%. Looking back five years and taking a sample every week, the average dividend yield has been 12.12%, the lowest has been 6.99%, and the highest has been 42.33%. The standard deviation of yields is 3.14 (n=226).
The current dividend yield is 0.37 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.66. 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's 3-Year dividend growth rate is -0.50%.
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.
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.
