|Bid||6.29 x 39400|
|Ask||6.30 x 2900|
|Day's Range||6.28 - 6.32|
|52 Week Range||5.88 - 6.47|
|Beta (5Y Monthly)||0.78|
|PE Ratio (TTM)||12.81|
|Earnings Date||Jul 30, 2019 - Aug 04, 2019|
|Forward Dividend & Yield||0.80 (12.68%)|
|Ex-Dividend Date||Dec 17, 2019|
|1y Target Est||6.21|
Shares of New York Mortgage Trust Inc. slid 2.1% on heavy volume in morning trading Wednesday, after the high-yielding real estate investment trust announced a public offering of common stock that amounts to about 10% of the shares outstanding. Trading volume ballooned to 22 million shares, which currently makes the stock the most actively traded on major U.S. exchanges. The company said it sold 30 million shares to the public for gross proceeds of $182.7 million, which implies a pricing of about $6.09 a share, below Tuesday's closing price of $6.25. The company plans to use the proceeds from the offering for general corporate purposes, which could include acquiring single-family residential and multi-family credit investments. The stock has a dividend yield of 13.07% at current prices, compared with the yield on the SPDR Real Estate Select Sector ETF of 3.10% and the implied yield on the S&P 500 of 1.85%.
The underwriters may offer the common stock from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on The Nasdaq Global Select Market, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. The offering is expected to close on January 10, 2020, subject to customary closing conditions. NYMT intends to use the net proceeds of this offering for general business purposes, which may include, among other things, acquiring its targeted assets, including both single-family residential and multi-family credit investments, and various other types of mortgage-related and residential housing-related assets that the Company may target from time to time and general working capital purposes.
Morgan Stanley, J.P. Morgan and UBS Investment Bank will serve as joint bookrunning managers for the offering. NYMT intends to use the net proceeds of this offering for general business purposes, which may include, among other things, acquiring its targeted assets, including both single-family residential and multi-family credit investments, and various other types of mortgage-related and residential housing-related assets that the Company may target from time to time and general working capital purposes. The offering is being made pursuant to the Company’s existing shelf registration statement, which automatically became effective upon filing with the Securities and Exchange Commission (the “SEC”) on August 9, 2018.
Concerns over rising interest rates and expected further rate increases have hit several stocks hard during the fourth quarter of 2018. Trends reversed 180 degrees in 2019 amid Powell's pivot and optimistic expectations towards a trade deal with China. Hedge funds and institutional investors tracked by Insider Monkey usually invest a disproportionate amount of their […]
New York Mortgage Trust, Inc. (NYMT) (the “Company”) announced today that its Board of Directors (the “Board”) declared a regular quarterly cash dividend of $0.20 per share on shares of its common stock for the quarter ending December 31, 2019. In accordance with the terms of the 7.75% Series B Cumulative Redeemable Preferred Stock (“Series B Preferred Stock”) of the Company, the Board declared a Series B Preferred Stock cash dividend of $0.484375 per share of Series B Preferred Stock for the quarterly period that began on October 15, 2019 and ends on January 14, 2020. This dividend is payable on January 15, 2020 to holders of record of Series B Preferred Stock as of January 1, 2020.
Steve Mumma has been the CEO of New York Mortgage Trust, Inc. (NASDAQ:NYMT) since 2009. First, this article will...
The market is making moves, and investors are taking notice. As we near the end of third quarter 2019 earnings season, Savita Subramanian of Merrill Lynch stated that following better-than-expected results, there appears to be a renewed sense of optimism.According to the analyst, companies that have already reported earnings have taken a "much more optimistic tone than in recent quarters," with 43% of companies using the word "optimistic" or "optimism" during their releases. This is up from the average of 37% in the two preceding quarters.So how can investors best take advantage of this renewed economic outlook? Wall Street pros suggest adding names capable delivering stable payouts, or more specifically dividend stocks. However, not all dividend stocks represent compelling investments as some boast significantly higher yields than others.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBearing this in mind, I used the TipRanks Stock Screener to zero in on seven dividend stocks to buy that consistently pay out over a 9% yield. This isn't too shabby when you compare it to the S&P 500's fiscal Q2 2019 average dividend yield of 1.92%. * 10 Stocks to Buy Regardless of Q3 Earnings Let's take a closer look. Stocks to Buy: Energy Transfer (ET) Source: Shutterstock Dividend Yield: 10%Energy Transfer, L.P. (NYSE:ET) is one of the largest and most diversified midstream energy companies in the U.S. After the company's Nov. 6 third-quarter earnings release, all eyes are on ET.Top analyst, RBC Capital's Elvira Scotto, believes that the company is on track to achieve an approximately 4.5x debt-to-EBITDA by the end of this calendar year. This is expected to be achieved through ramping up cash flows from Rover, Revolution, ME2/2X and several other growth projects as well as distribution payments slated for the end of 2021."With its slate of large-scale, primarily fee-based growth projects coming online and ramping, we expect cash flow growth to drive leverage meaningfully lower in the coming years, which should allow ET to return more cash to shareholders," she commented.This lends itself to her conclusion that ET will continue to reward investors with a stable dividend. We mean an annualized payout of $1.22 per share, which amounts to a yield of 9.7%. Based on all of the above, the five-star analyst predicts shares could soar 88% in the next twelve months.As seven Buy ratings have been assigned vs no Holds or Sells in the last three months, the message is clear: ET is a Strong Buy. Not to mention its $21 average price target brings the upside potential to 70%.See the ET stock analysis. MPLX (MPLX)Source: Shutterstock Dividend Yield: 11%Formed by Marathon Petroleum (NYSE:MPC), MPLX, L.P. (NYSE:MPLX) owns and operates energy logistics and infrastructure assets as well as provides fuel distribution services.Coming on the heels of its third-quarter earnings and sales beat, MPLX appears primed to deliver massive returns. Net income attributable to MPLX came in at $629 million, up from $510 million in the prior-year quarter. Adding to the good news, further gains are expected to be fueled by its Andeavor Logistics acquisition which was finalized at the end of July.CEO Gary R. Heminger added, "Additionally, we moved forward with high-grading our growth capex portfolio and today announced a growth capital target of approximately $2.0 billion for 2020."As management has outlined a clear growth path, MPLX is likely to remain a high dividend payer, or 10.3% annualized to be exact.With this in mind, RBC Capital analyst TJ Schultz maintained his bullish thesis. While he did lower the price target from $38 to $33, the five-star analyst still sees 31% upside potential in store for the energy company.Like Schultz, the rest of the Street is optimistic about MPLX. Seven Buy ratings and one Hold received over the last three months add up to a Strong Buy analyst consensus. Its average price target of $34 suggests shares could surge 33% in the next year. * 7 of the Best Internet Stocks to Buy See the MPLX stock analysis.To learn more about dividend stocks, Neil George is selling special access to his book Income for Life: 65 Income Streams ANYONE Can Collect for just $1. New York Mortgage (NYMT)Source: Shutterstock Dividend Yield: 13%New York Mortgage Trust, Inc. (NASDAQ:NYMT) manages a portfolio of assets with the goal of delivering stable returns to its clients. The real estate investment trust (REIT) invests in and manages mortgage-related assets. That being said, its strength as a dividend stock makes it a stand out.We aren't talking chump change here. NYMT has consistently rewarded investors with an $0.80 annualized payout, putting the dividend yield at 12.8%. This is nothing short of impressive when you consider the financial sector average of 0.04%.According to Maxim Group analyst Michael Diana, the company's focus on book value and credit strategies has the potential to cement NYMT's status as a reliable profit generator and dividend name. "In our view, NYMT deserves a premium valuation to the group due to its strong track record of preserving book value and its focus on credit strategies in an environment which we regard as favorable for credit strategies," he explained.In general, the opinion on the Street is more mixed. Its Moderate Buy consensus rating comes from the 1 Buy and 1 Hold NYMT racked up in the previous three months. However, shares could rise 14% in the next twelve months.See the NYMT stock analysis. Two Harbors (TWO)Source: Shutterstock Dividend Yield: 11.3%Like NYMT, Two Harbors Investment Corporation (NYSE:TWO) is an REIT, with its primary focus being residential mortgage-backed securities (RMBS). While it faces steep competition in the financial sector, the company has the advantage thanks to its limited sensitivity to interest rates. Louis Navellier, a legendary investor in his own right, calls stocks like these "bulletproof stocks" and you can learn more about them here."Two Harbors is a hybrid mortgage REIT with less rate sensitivity due to differentiated agency MBS/MSR pairing strategy along with a unique, legacy credit-oriented portfolio," RBC Capital analyst Kenneth Lee explained. This reasoning played into Lee's decision to start coverage with a bullish call and set a $15 price target.Given its ability to generate profits regardless of the current macro backdrop, it's a positive sign that TWO can continue to hand over a hefty dividend payout. We're talking 40 cents paid out each quarter, bringing the annualized sum to $1.60 per share or an 11.5% yield.Looking at the analyst consensus breakdown, the rest of the Street has high hopes for TWO. Factoring in the three buys assigned over the last three months, the stock earns Strong Buy status. * 7 Stocks to Buy That Save You Money See the TWO stock analysis. Oasis Midstream Partners (OMP)Source: Shutterstock Dividend Yield: 11.4%Oil and gas producer Oasis Midstream Partners L.P. (NYSE:OMP) has captured Wall Street's attention after its Nov. 5 third-quarter earnings release.Investors were happy to learn that quarterly cash distribution gained 5% from the preceding quarter. Adding to the good news, OMP signed additional third-party agreements in the Delaware and Williston Basins as well as saw solid water service volumes.However, its 11.4% dividend yield caught my eye. OMP has been reliably paying out 49 cents per share each quarter, adding up to a $1.96 annualized payout. With a payout ratio of 61.7%, the energy company is poised to continue delivering big rewards to investors.All of this supports RBC Capital analyst TJ Schultz's assumption that OMP's growth narrative remains strong. While he did cut the price target from $25 to $22, the upside potential still comes in at 20%.In general, other analysts echo Schultz's sentiment. On top of garnering Strong Buy status, its $23 average price target puts the potential twelve month gain at 23%.See the OMP stock analysis. Ellington Financial (EFC) Source: Shutterstock Dividend Yield: 9%Ellington Financial Inc. (NYSE:EFC) is a specialty finance company serving clients located throughout the U.S. With EFC on track to raise its already impressive dividend, it's no wonder investors have been captivated by this stock.Even though some had originally expressed concerns regarding how EFC's transition to a REIT would impact its ability to hand out consistent payments, one top analyst is reassuring investors."We believe that EFC's recent conversion to a REIT, combined with our projected growth from its diversified business model, should lift the stock to a premium to its forward book value and in line with its core Mortgage REIT peer group. In addition, EFC is positioned to raise its dividend as its credit businesses grow, ROEs on its agency MBS strategy pick up, and REIT taxable income requirements increase distributions to shareholders," Nomura's Matthew Howlett commented.This is incredibly exciting news as the financial services company has already been steadily paying out $1.68 per share on an annual basis, or a 9% yield.All of the above factors prompted Howlett to start his EFC coverage by publishing a bullish call. Not to mention the four-star analyst's $20 price target implies shares could jump 9% in the next twelve months.Based on its 100% Street approval, EFC is a Strong Buy. The potential upside of 9% should also be taken into consideration. * 10 Stocks That Every 30-Year-Old Should Buy and Hold Forever See the EFC stock analysis. Black Stone Minerals (BSM) Source: Shutterstock Dividend Yield: 11.3%This oil and natural gas company has a lot to brag about. Not only does Black Stone Minerals, L.P. (NYSE:BSM) have a Strong Buy consensus rating and upside potential of 45%, but it also boasts a noteworthy dividend.Besting the basic materials sector average of 0.04%, BSM's yield comes in at 11.3% as a result of its $1.48 annualized payout per share. With a strong third-quarter performance under its belt, its ability to continue paying out these substantial sums looks secure.According to its Nov. 4 earnings release, production during the quarter reached 49.0 MBoe/d driven by a 14% year-over-year increase in royalty production. BSM also purchased $2.3 million-worth of properties in East Texas in the quarter, bringing total 2019 acquisition-related spending to $43.9 million.If this wasn't compelling enough, BSM has racked up substantial Wall Street support in the last three months. This includes the likes of JonesTrading analyst Eduardo Seda."We note that BSM had recently raised its production guidance for full-year 2019 to a range of 47.5 MBoe/d to 50.5 MBoe/d, a 5% increase midpoint to midpoint from prior guidance," the four-star analyst commented. With this in mind, he reiterated his Buy recommendation and $22 price target, indicating 69% upside from the current share price.See the BSM stock analysis.Legendary investor Louis Navellier has opinions of his own. Louis believes investors should buy bulletproof stocks that can thrive in any market.To prepare for a shifting market, Louis suggests steps that every investor should take right now:* Follow the money: Buy stocks that are seeing massive cash infusions.* Protect your portfolio: Invest in market-beating stocks with Louis' simple trick.* Go risk-off: Strong fundamentals are more paramount than ever.Louis' track record is enviable and stocked with winners, including the following: * 274% gain in semiconductor stock Nvidia * 134% gain in defensive plays * 123% gain in a personnel service stockTo learn how to invest in this shifting market, and to recieve Louis' top stock picks, click here.TipRanks offers investors the latest insight into eight different sectors by tracking the activity of over 5,000 Wall Street analysts. As of this writing, Maya Sasson did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Sell Before They Roll Over * 5 Beaten-Up Stocks to Buy That Could Be Saved By An Acquisition * 4 Startup Stocks Getting Smashed The post 7 Buy-Rated Stocks With Dividend Yields Over 9% appeared first on InvestorPlace.
New York Mortgage Trust (NYMT) delivered earnings and revenue surprises of -6.25% and -11.68%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
NEW YORK, Nov. 05, 2019 -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) (“NYMT,” the “Company,” “we,” “our” or “us”) today reported results for the third quarter of 2019..
Amid challenging environment for agency MBS market, New York Mortgage Trust's (NYMT) efforts to reduce exposure to agency securities might have supported its Q3 performance.
New York Mortgage Trust (NYMT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
"Since 2006, value stocks (IVE vs IVW) have underperformed 11 of the 13 calendar years and when they beat growth, it wasn't by much. Cumulatively, through this week, it has been a 122% differential (up 52% for value vs up 174% for growth). This appears to be the longest and most severe drought for value […]
NEW YORK, Oct. 18, 2019 -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”) is scheduled to report financial results for the three and nine months ended September.
New York Mortgage Trust, Inc. (NYMT) (the “Company”) announced today the pricing of a public offering of 6,000,000 shares of its 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the “Series E Preferred Stock”), liquidation preference $25.00 per share, for gross proceeds of $150,000,000 before deducting underwriting discounts and offering expenses. The Company has granted the underwriters an option for 30 days to purchase up to an additional 900,000 shares of the Series E Preferred Stock to cover over-allotments, if any. The offering is subject to customary closing conditions and is expected to close on October 18, 2019.
The main aim of stock picking is to find the market-beating stocks. But every investor is virtually certain to have...
New York Mortgage Trust, Inc. (NASDAQ:NYMT), which is in the mortgage reits business, and is based in United States...
New York Mortgage Trust, Inc. (NYMT) (the “Company”) announced today that its Board of Directors (the “Board”) declared a regular quarterly cash dividend of $0.20 per share on shares of its common stock for the quarter ending September 30, 2019. In accordance with the terms of the 7.75% Series B Cumulative Redeemable Preferred Stock (“Series B Preferred Stock”) of the Company, the Board declared a Series B Preferred Stock cash dividend of $0.484375 per share of Series B Preferred Stock for the quarterly period that began on July 15, 2019 and ends on October 14, 2019. This dividend is payable on October 15, 2019 to holders of record of Series B Preferred Stock as of October 1, 2019.
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