BidaskClub upgraded shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) from a hold rating to a buy rating in a report released on Tuesday, July 25th.
Several other brokerages also recently commented on NYMT. Zacks Investment Research downgraded New York Mortgage Trust from a hold rating to a sell rating in a research note on Saturday, May 6th. Keefe, Bruyette & Woods set a $6.00 price target on New York Mortgage Trust and gave the company a hold rating in a research note on Wednesday, May 10th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. New York Mortgage Trust currently has a consensus rating of Hold and an average price target of $6.31.
New York Mortgage Trust (NYMT) traded down 2.71% during midday trading on Tuesday, hitting $6.11. The stock had a trading volume of 1,835,313 shares. New York Mortgage Trust has a 1-year low of $5.65 and a 1-year high of $7.04. The firm has a market capitalization of $683.36 million, a price-to-earnings ratio of 11.89 and a beta of 1.38. The firm has a 50-day moving average price of $6.33 and a 200-day moving average price of $6.33.
New York Mortgage Trust (NASDAQ:NYMT) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.04. New York Mortgage Trust had a return on equity of 9.98% and a net margin of 20.53%. The business had revenue of $15.71 million for the quarter, compared to the consensus estimate of $17.42 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that New York Mortgage Trust will post $0.60 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 26th were issued a $0.20 dividend. The ex-dividend date was Thursday, June 22nd. This represents a $0.80 annualized dividend and a yield of 13.09%. New York Mortgage Trust’s payout ratio is currently 156.86%.
Hedge funds have recently modified their holdings of the company. State Street Corp increased its stake in shares of New York Mortgage Trust by 7.7% in the fourth quarter. State Street Corp now owns 2,164,690 shares of the real estate investment trust’s stock valued at $14,284,000 after buying an additional 153,943 shares during the period. GSA Capital Partners LLP increased its stake in shares of New York Mortgage Trust by 21.3% in the fourth quarter. GSA Capital Partners LLP now owns 41,600 shares of the real estate investment trust’s stock valued at $275,000 after buying an additional 7,300 shares during the period. Teachers Advisors LLC increased its stake in shares of New York Mortgage Trust by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 181,876 shares of the real estate investment trust’s stock valued at $1,200,000 after buying an additional 3,806 shares during the period. Prospera Financial Services Inc increased its stake in shares of New York Mortgage Trust by 6.9% in the first quarter. Prospera Financial Services Inc now owns 21,930 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 1,425 shares during the period. Finally, WealthTrust Axiom LLC increased its stake in shares of New York Mortgage Trust by 1.9% in the first quarter. WealthTrust Axiom LLC now owns 54,180 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 1,000 shares during the period. 36.05% of the stock is owned by hedge funds and other institutional investors.
About New York Mortgage Trust
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.
Receive News & Ratings for New York Mortgage Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Mortgage Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
