New York Mortgage Trust (NASDAQ:NYMT) Sees Large Volume Increase – Still a Buy?

Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) saw unusually-high trading volume on Thursday . Approximately 1,432,801 shares changed hands during trading, an increase of 151% from the previous session’s volume of 570,394 shares.The stock last traded at $6.28 and had previously closed at $5.99.

Wall Street Analyst Weigh In

NYMT has been the subject of several research analyst reports. B. Riley decreased their price target on shares of New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. StockNews.com raised New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.00.

New York Mortgage Trust Price Performance

The firm has a market cap of $579.26 million, a PE ratio of -19.38 and a beta of 1.92. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 7.24. The stock has a 50 day moving average price of $6.03 and a two-hundred day moving average price of $6.09.

New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.47). New York Mortgage Trust had a net margin of 3.11% and a return on equity of 0.48%. The company had revenue of $26.71 million for the quarter, compared to analyst estimates of $20.06 million. As a group, equities analysts expect that New York Mortgage Trust, Inc. will post -0.47 earnings per share for the current year.

New York Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 23rd. Investors of record on Friday, December 20th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.51%. The ex-dividend date of this dividend was Friday, December 20th. New York Mortgage Trust’s dividend payout ratio (DPR) is -242.42%.

Hedge Funds Weigh In On New York Mortgage Trust

A number of institutional investors have recently bought and sold shares of NYMT. Barclays PLC lifted its position in New York Mortgage Trust by 347.4% during the third quarter. Barclays PLC now owns 150,946 shares of the real estate investment trust’s stock valued at $955,000 after purchasing an additional 117,206 shares during the period. Geode Capital Management LLC lifted its holdings in shares of New York Mortgage Trust by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,261,614 shares of the real estate investment trust’s stock valued at $14,320,000 after buying an additional 10,017 shares during the period. Intech Investment Management LLC boosted its stake in shares of New York Mortgage Trust by 91.5% in the third quarter. Intech Investment Management LLC now owns 40,113 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 19,165 shares during the last quarter. Jane Street Group LLC grew its holdings in New York Mortgage Trust by 17.5% during the third quarter. Jane Street Group LLC now owns 164,388 shares of the real estate investment trust’s stock worth $1,041,000 after acquiring an additional 24,430 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in New York Mortgage Trust during the third quarter valued at approximately $76,000. 54.89% of the stock is owned by hedge funds and other institutional investors.

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.