New York Mortgage Trust’s (NYMT) “Buy” Rating Reiterated at B. Riley

B. Riley reaffirmed their buy rating on shares of New York Mortgage Trust (NASDAQ:NYMT) in a research report report published on Monday morning, Benzinga reports. They currently have a $11.00 target price on the real estate investment trust’s stock, down from their prior target price of $15.00.

NYMT has been the topic of several other research reports. StockNews.com raised New York Mortgage Trust from a sell rating to a hold rating in a research note on Thursday, February 22nd. UBS Group assumed coverage on New York Mortgage Trust in a report on Wednesday, December 6th. They issued a neutral rating and a $8.50 price target on the stock.

New York Mortgage Trust Stock Up 3.6 %

Shares of NYMT stock opened at $7.13 on Monday. New York Mortgage Trust has a 12 month low of $6.87 and a 12 month high of $10.63. The firm has a market cap of $650.54 million, a PE ratio of -7.20 and a beta of 1.93. The stock has a 50 day moving average of $7.48 and a 200-day moving average of $8.15. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 4.21.

New York Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 11.22%. The ex-dividend date is Friday, March 22nd. New York Mortgage Trust’s dividend payout ratio is presently -80.81%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of New York Mortgage Trust by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 26,414,738 shares of the real estate investment trust’s stock worth $61,810,000 after purchasing an additional 664,045 shares during the last quarter. State Street Corp increased its position in shares of New York Mortgage Trust by 1.7% during the 2nd quarter. State Street Corp now owns 14,724,631 shares of the real estate investment trust’s stock worth $42,085,000 after purchasing an additional 245,757 shares during the last quarter. Geode Capital Management LLC increased its position in shares of New York Mortgage Trust by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,350,959 shares of the real estate investment trust’s stock worth $18,818,000 after purchasing an additional 91,487 shares during the last quarter. Invesco Ltd. increased its position in shares of New York Mortgage Trust by 26.5% during the 1st quarter. Invesco Ltd. now owns 6,009,670 shares of the real estate investment trust’s stock worth $21,935,000 after purchasing an additional 1,259,010 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of New York Mortgage Trust by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,478,974 shares of the real estate investment trust’s stock worth $11,466,000 after acquiring an additional 58,010 shares during the last quarter. Institutional investors and hedge funds own 54.89% of the company’s stock.

About New York Mortgage Trust

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, including business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgage, residential housing, and credit-related assets.