BidaskClub cut shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) from a buy rating to a hold rating in a research note published on Tuesday.
A number of other equities research analysts have also recently weighed in on NYMT. Zacks Investment Research cut shares of New York Mortgage Trust from a hold rating to a sell rating in a research report on Saturday, May 6th. Keefe, Bruyette & Woods set a $6.00 price target on shares of New York Mortgage Trust and gave the company a hold rating in a research report on Wednesday, May 10th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $6.31.
New York Mortgage Trust (NASDAQ NYMT) traded down 2.71% during midday trading on Tuesday, reaching $6.11. 1,835,313 shares of the company’s stock traded hands. The firm’s 50-day moving average is $6.33 and its 200-day moving average is $6.33. The company has a market capitalization of $683.36 million, a price-to-earnings ratio of 11.89 and a beta of 1.38. New York Mortgage Trust has a 1-year low of $5.65 and a 1-year high of $7.04.
New York Mortgage Trust (NASDAQ:NYMT) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.04. New York Mortgage Trust had a net margin of 20.53% and a return on equity of 9.98%. The company had revenue of $15.71 million for the quarter, compared to analyst estimates of $17.42 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. New York Mortgage Trust’s revenue was down 5.7% on a year-over-year basis. Analysts forecast that New York Mortgage Trust will post $0.60 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 26th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.09%. The ex-dividend date was Thursday, June 22nd. New York Mortgage Trust’s dividend payout ratio is presently 156.86%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Great Lakes Advisors LLC raised its position in New York Mortgage Trust by 17.3% in the first quarter. Great Lakes Advisors LLC now owns 192,631 shares of the real estate investment trust’s stock valued at $1,189,000 after buying an additional 28,468 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in New York Mortgage Trust by 53.5% in the first quarter. Parametric Portfolio Associates LLC now owns 345,102 shares of the real estate investment trust’s stock valued at $2,129,000 after buying an additional 120,342 shares during the last quarter. Karp Capital Management Corp acquired a new position in New York Mortgage Trust during the first quarter valued at approximately $467,000. Swiss National Bank raised its position in New York Mortgage Trust by 4.3% in the first quarter. Swiss National Bank now owns 180,320 shares of the real estate investment trust’s stock valued at $1,113,000 after buying an additional 7,400 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in New York Mortgage Trust by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 535,398 shares of the real estate investment trust’s stock valued at $3,303,000 after buying an additional 30,882 shares during the last quarter. 36.05% of the stock is owned by institutional investors and hedge funds.
New York Mortgage Trust Company Profile
New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.
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