New York Mortgage Trust (NYMT) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of New York Mortgage Trust (NASDAQ:NYMT) from a hold rating to a sell rating in a research note issued to investors on Thursday, April 12th.

Several other equities research analysts have also commented on the stock. ValuEngine lowered shares of New York Mortgage Trust from a buy rating to a hold rating in a research note on Monday, April 2nd. B. Riley set a $6.00 price objective on shares of New York Mortgage Trust and gave the company a hold rating in a research note on Thursday, February 22nd. Maxim Group reiterated a buy rating and issued a $6.25 price objective (down previously from $6.50) on shares of New York Mortgage Trust in a research note on Wednesday, February 21st. Finally, Zacks Investment Research lowered shares of New York Mortgage Trust from a buy rating to a hold rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $6.25.

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NYMT opened at $6.02 on Thursday. The company has a current ratio of 74.42, a quick ratio of 74.42 and a debt-to-equity ratio of 15.94. New York Mortgage Trust has a fifty-two week low of $5.35 and a fifty-two week high of $6.69. The stock has a market capitalization of $676.06, a P/E ratio of 9.14 and a beta of 1.02.



New York Mortgage Trust (NASDAQ:NYMT) last posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.06. The company had revenue of $15.04 million for the quarter, compared to analyst estimates of $19.97 million. New York Mortgage Trust had a net margin of 22.10% and a return on equity of 13.38%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. equities analysts forecast that New York Mortgage Trust will post 0.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.29%. The ex-dividend date of this dividend is Wednesday, March 28th. New York Mortgage Trust’s dividend payout ratio is currently 121.21%.

Several institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC bought a new position in shares of New York Mortgage Trust during the 4th quarter valued at approximately $318,000. Municipal Employees Retirement System of Michigan bought a new position in shares of New York Mortgage Trust during the 4th quarter valued at approximately $1,400,000. Jane Street Group LLC bought a new position in shares of New York Mortgage Trust during the 4th quarter valued at approximately $231,000. Bramshill Investments LLC bought a new position in shares of New York Mortgage Trust during the 4th quarter valued at approximately $513,000. Finally, Millennium Management LLC bought a new position in shares of New York Mortgage Trust during the 4th quarter valued at approximately $455,000. 38.94% of the stock is owned by hedge funds and other institutional investors.

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New York Mortgage Trust Company Profile

New York Mortgage Trust, Inc, a real estate investment trust (REIT), acquires, invests in, finances, and manages mortgage-related and residential housing-related, and financial assets in the United States. The company's investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets; non-agency residential mortgage-backed securities; multi-family commercial mortgage-backed securities; and preferred equities.

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