New York Mortgage Trust, Inc. (NASDAQ:NYMT) Upgraded at BidaskClub

BidaskClub upgraded shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) from a hold rating to a buy rating in a research report sent to investors on Tuesday, July 25th.

A number of 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 target price on New York Mortgage Trust and gave the company a hold rating in a research note on Wednesday, May 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $6.42.

New York Mortgage Trust (NASDAQ:NYMT) traded up 0.16% during trading on Tuesday, hitting $6.19. 909,165 shares of the company’s stock were exchanged. New York Mortgage Trust has a 12-month low of $5.65 and a 12-month high of $7.04. The firm has a market cap of $692.61 million, a price-to-earnings ratio of 12.14 and a beta of 1.38. The company’s 50-day moving average price is $6.26 and its 200 day moving average price is $6.32.

New York Mortgage Trust (NASDAQ:NYMT) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $15.71 million for the quarter, compared to analyst estimates of $17.42 million. New York Mortgage Trust had a net margin of 19.62% and a return on equity of 10.05%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. Equities analysts forecast that New York Mortgage Trust will post $0.54 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 26th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $0.80 annualized dividend and a dividend yield of 12.92%. New York Mortgage Trust’s dividend payout ratio is presently 156.87%.

Institutional investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its position in New York Mortgage Trust by 0.3% in the second quarter. UBS Asset Management Americas Inc. now owns 28,879 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 93 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in New York Mortgage Trust by 1.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,473 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 218 shares during the period. Wellington Management Group LLP boosted its position in New York Mortgage Trust by 1.0% in the first quarter. Wellington Management Group LLP now owns 68,865 shares of the real estate investment trust’s stock valued at $425,000 after buying an additional 707 shares during the period. ETRADE Capital Management LLC boosted its position in New York Mortgage Trust by 4.2% in the second quarter. ETRADE Capital Management LLC now owns 21,127 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 851 shares during the period. Finally, Prudential Financial Inc. boosted its position in New York Mortgage Trust by 0.6% in the second quarter. Prudential Financial Inc. now owns 166,720 shares of the real estate investment trust’s stock valued at $1,037,000 after buying an additional 940 shares during the period. 36.21% 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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