New York Mortgage Trust, Inc. (NYMT) Rating Lowered to Sell at Zacks Investment Research

New York Mortgage Trust, Inc. (NASDAQ:NYMT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “New York Mortgage Trust is a real estate investment trust focused on owning and managing a leveraged portfolio of residential mortgage securities and a mortgage origination business. The mortgage portfolio is comprised largely of prime adjustable-rate and hybrid mortgage loans and securities, much of which, over time will be originated by NYMT’s wholly owned mortgage origination business, The New York Mortgage Company, a taxable real estate investment trust subsidiary. “

A number of other analysts have also recently weighed in on NYMT. BidaskClub upgraded New York Mortgage Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. TheStreet cut New York Mortgage Trust from a “c” rating to a “d+” rating in a research report on Friday, August 4th. Keefe, Bruyette & Woods set a $6.00 price target on New York Mortgage Trust and gave the stock a “hold” rating in a research report on Monday, August 14th. Finally, Barclays PLC increased their price target on New York Mortgage Trust from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. New York Mortgage Trust currently has a consensus rating of “Hold” and a consensus target price of $6.33.

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). 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 return on equity of 10.05% and a net margin of 19.62%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share.

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Several institutional investors have recently made changes to their positions in NYMT. Raymond James Financial Services Advisors Inc. raised its position in shares of New York Mortgage Trust by 1.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,473 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 218 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of New York Mortgage Trust by 183.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,139 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 13,679 shares during the period. ETRADE Capital Management LLC raised its position in shares of New York Mortgage Trust by 4.2% during the 2nd quarter. ETRADE Capital Management LLC now owns 21,127 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 851 shares during the period. Sei Investments Co. raised its position in shares of New York Mortgage Trust by 50.4% during the 2nd quarter. Sei Investments Co. now owns 23,931 shares of the real estate investment trust’s stock worth $149,000 after purchasing an additional 8,018 shares during the period. Finally, Two Sigma Securities LLC acquired a new stake in shares of New York Mortgage Trust during the 1st quarter worth approximately $151,000. Institutional investors and hedge funds own 36.11% of the company’s stock.

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.

Analyst Recommendations for New York Mortgage Trust (NASDAQ:NYMT)

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