New York Mortgage Trust announces cash dividend of $0.20

New York Mortgage Trust Inc (NASDAQ: NYMT) said on Wednesday that its Board of Directors had authorized a regular quarterly cash dividend of $0.20 per share of common stock.

The dividend will be paid on April 25th to shareholders of record as of the close of business on March 25th 2024, the company said.

In addition, New York Mortgage Trust announced cash dividends on its preferred stock payable on April 15th in the following amounts:

– Series D Preferred Stock – $0.50 per share;

– Series E Preferred Stock – $0.4921875 per share;

– Series F Preferred Stock – $0.4296875 per share;

– Series G Preferred Stock – $0.4375 per share.

Stock Performance

The shares of New York Mortgage Trust Inc closed 0.69% ($0.05) higher at $7.32 on Nasdaq on Wednesday, as they registered gains in five out of the past six trading sessions.

The company’s total market cap now stands at $667.837 million.

The shares of New York Mortgage Trust Inc went down 16.70% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).

The company’s shares have retreated 14.18% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 1 out of 2 surveyed investment analysts had rated New York Mortgage Trust’s stock as “Hold”, while other 1 – as “Buy”. The median price target on the stock stands at $9.75, which translates into a 33.20% upside compared to the closing price on Wednesday.

The high point of the analyst forecast range stands at $11.00.