New York Stock To Go Ex-dividend Tomorrow (NYMT)

NEW YORK ( TheStreet) -- The ex-dividend date for New York Mortgage (Nasdaq: NYMT) is tomorrow, March 27, 2012. Owners of shares as of market close today will be eligible for a dividend of 25 cents per share. At a price of $7 as of 9:30 a.m. ET, the dividend yield is 14.2%.

The average volume for New York has been 155,700 shares per day over the past 30 days. New York has a market cap of $79.1 million and is part of the financial sector and real estate industry. Shares are down 2.9% year to date as of the close of trading on Friday.

New York Mortgage Trust, Inc., together with its subsidiaries, operates as a real estate investment trust (REIT) in the United States. The company engages in acquiring, investing, financing, and managing mortgage-related assets. The company has a P/E ratio of 4.4, below the average real estate industry P/E ratio of 8.6 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates New York as a hold. Among the primary strengths of the company is its reasonable valuation levels, considering its current price compared to earnings, book value and other measures. At the same time, however, we also find weaknesses including deteriorating net income, generally poor debt management and disappointing return on equity. You can view the full New York Ratings Report.

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