New York Mortgage Trust (NASDAQ:NYMT) Now Covered by Analysts at Janney Montgomery Scott

Janney Montgomery Scott initiated coverage on shares of New York Mortgage Trust (NASDAQ:NYMTFree Report) in a research note published on Tuesday, Marketbeat reports. The brokerage issued a neutral rating and a $7.00 target price on the real estate investment trust’s stock.

Several other brokerages have also commented on NYMT. StockNews.com lowered New York Mortgage Trust from a hold rating to a sell rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods lowered their price objective on shares of New York Mortgage Trust from $8.50 to $7.00 and set a market perform rating on the stock in a research note on Friday, May 3rd. Finally, UBS Group cut their target price on shares of New York Mortgage Trust from $7.50 to $6.00 and set a neutral rating for the company in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $7.75.

Read Our Latest Research Report on New York Mortgage Trust

New York Mortgage Trust Stock Performance

NYMT stock traded up $0.04 on Tuesday, hitting $6.40. The company had a trading volume of 41,259 shares, compared to its average volume of 600,568. The stock has a market cap of $583.86 million, a price-to-earnings ratio of -3.44 and a beta of 1.93. The company has a current ratio of 6.46, a quick ratio of 4.02 and a debt-to-equity ratio of 6.30. The stock’s 50-day simple moving average is $6.22 and its 200 day simple moving average is $6.67. New York Mortgage Trust has a 12-month low of $5.51 and a 12-month high of $9.68.

New York Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.50%. New York Mortgage Trust’s payout ratio is currently -43.24%.

Institutional Trading of New York Mortgage Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Waterfall Asset Management LLC bought a new stake in shares of New York Mortgage Trust during the second quarter valued at approximately $1,727,000. The Manufacturers Life Insurance Company grew its stake in New York Mortgage Trust by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 36,132 shares of the real estate investment trust’s stock valued at $211,000 after acquiring an additional 1,901 shares in the last quarter. AQR Capital Management LLC bought a new stake in New York Mortgage Trust in the 2nd quarter valued at $83,000. Squarepoint Ops LLC bought a new stake in New York Mortgage Trust in the 2nd quarter valued at $136,000. Finally, Evergreen Capital Management LLC purchased a new stake in New York Mortgage Trust in the 2nd quarter worth $83,000. 54.89% of the stock is owned by hedge funds and other institutional investors.

About New York Mortgage Trust

(Get Free Report)

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.

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