New York Mortgage Trust (NASDAQ:NYMT) Sets New 12-Month Low Following Weak Earnings

Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) hit a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $5.78 and last traded at $5.91, with a volume of 740315 shares. The stock had previously closed at $7.02.

The real estate investment trust reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.42). New York Mortgage Trust had a positive return on equity of 0.87% and a negative net margin of 18.82%. The company had revenue of $83.89 million for the quarter, compared to the consensus estimate of $19.64 million. During the same period in the previous year, the firm earned $0.11 earnings per share.

New York Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 25th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 12.92%. New York Mortgage Trust’s dividend payout ratio is currently -80.81%.

Analysts Set New Price Targets

NYMT has been the subject of several analyst reports. StockNews.com upgraded New York Mortgage Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. B. Riley reiterated a “buy” rating and set a $11.00 price objective (down previously from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th.

Institutional Investors Weigh In On New York Mortgage Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in shares of New York Mortgage Trust by 9.1% during the 4th quarter. SG Americas Securities LLC now owns 23,802 shares of the real estate investment trust’s stock valued at $203,000 after acquiring an additional 1,979 shares during the period. EMC Capital Management lifted its stake in New York Mortgage Trust by 31.3% in the 3rd quarter. EMC Capital Management now owns 9,863 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 2,350 shares in the last quarter. New York State Teachers Retirement System lifted its stake in New York Mortgage Trust by 2.4% in the 3rd quarter. New York State Teachers Retirement System now owns 134,612 shares of the real estate investment trust’s stock valued at $1,143,000 after buying an additional 3,100 shares in the last quarter. Yousif Capital Management LLC lifted its stake in New York Mortgage Trust by 11.7% in the 4th quarter. Yousif Capital Management LLC now owns 51,046 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 5,352 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in New York Mortgage Trust by 19.7% in the 4th quarter. New York State Common Retirement Fund now owns 34,025 shares of the real estate investment trust’s stock valued at $290,000 after buying an additional 5,594 shares in the last quarter. 54.89% of the stock is owned by institutional investors and hedge funds.

New York Mortgage Trust Price Performance

The company has a debt-to-equity ratio of 4.21, a quick ratio of 4.29 and a current ratio of 4.29. The stock’s 50 day moving average is $7.10 and its two-hundred day moving average is $7.85. The stock has a market capitalization of $564.71 million, a PE ratio of -6.27 and a beta of 1.91.

New York Mortgage Trust Company Profile

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.