TheStreet downgraded the shares of New York Mortgage Trust (NASDAQ:NYMT – Get Note) from a c- to a d+ rating in a report released Wednesday, reports TheStreetRatingsTable.
A number of other research analysts have also recently commented on the company. Barclays lowered its price target on New York Mortgage Trust from $3.50 to $3.00 and set an equal weighting quote on the stock in a Monday July 18 report. StockNews.com downgraded the New York Mortgage Trust from a hold rating to a sell rating in a Tuesday, May 10 research report. Keefe, Bruyette & Woods upgraded New York Mortgage Trust from an Outperform rating to a Market Performance rating and set a target price of $3.00 for the company. in a research report on Monday, July 18. Credit Suisse Group lowered its price target on the New York Mortgage Trust to $3.50 in a Friday, July 22 research report. Finally, Jonestrading cut its target price on New York Mortgage Trust from $4.25 to $4.00 and set a buy rating for the company in a research report on Thursday. Two analysts rated the stock with a sell rating, two gave the company a hold rating and two gave the company a buy rating. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $3.71.
New York mortgage trust trades down 1.0%
NYMT opened at $2.96 on Wednesday. New York Mortgage Trust has a one-year minimum of $2.24 and a one-year maximum of $4.50. The company has a market capitalization of $1.13 billion, a P/E ratio of -10.57, a PEG ratio of 14.81 and a beta of 1.70. The company has a debt ratio of 2.30, a quick ratio of 4.03 and a current ratio of 3.87. The company’s 50-day simple moving average is $2.85 and its 200-day simple moving average is $3.24.
New York Mortgage Trust (NASDAQ:NYMT – Get Rating) last released quarterly earnings data on Tuesday, May 3. The real estate investment trust reported ($0.22) EPS for the quarter, missing analyst consensus estimates of $0.08 per ($0.30). New York Mortgage Trust had a negative net margin of 25.09% and a positive return on equity of 3.54%. In the same period a year earlier, the company posted earnings per share of $0.11. As a group, equity research analysts expect New York Mortgage Trust to post 0.06 EPS for the current fiscal year.
New York Mortgage Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 25. Shareholders of record on Monday, June 27 received a dividend of $0.10 per share. This represents a dividend of $0.40 on an annualized basis and a dividend yield of 13.51%. The ex-dividend date was Friday, June 24. New York Mortgage Trust’s dividend payout ratio is currently -142.85%.
New York Mortgage Trust Institutional Trading
A number of hedge funds and other institutional investors have recently changed their holdings in the company. M&T Bank Corp bought a new stake in shares of New York Mortgage Trust during the second quarter for a value of approximately $28,000. Delphi Financial Group Inc. purchased a new stake in New York Mortgage Trust in the second quarter, valued at approximately $3,207,000. New Jersey State Joint Pension Fund D purchased a new stake in New York Mortgage Trust in the second quarter, valued at approximately $2,170,000. Wolverine Asset Management LLC increased its stake in New York Mortgage Trust by 167.2% in the second quarter. Wolverine Asset Management LLC now owns 957,221 shares of the real estate investment trust worth $2,641,000 after purchasing an additional 598,927 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in New York Mortgage Trust by 727.2% in the second quarter. SG Americas Securities LLC now owns 98,200 shares of the real estate investment trust valued at $271,000 after purchasing an additional 86,328 shares in the last quarter. 54.25% of the shares are held by hedge funds and other institutional investors.
About New York Mortgage Trust
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New York Mortgage Trust, Inc. acquires, invests, finances and manages single-family and multi-family residential mortgage-related assets in the United States. Its focused investments include residential loans, second mortgages and business loans; structured multifamily real estate investments, such as preferred stock and mezzanine loans to owners of multifamily properties, as well as joint venture equity investments in multifamily properties; residential non-agency mortgage-backed securities (RMBS); Agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgages, residential housing and credit-related assets.
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