New York Mortgage Trust (NASDAQ:NYMT) Cut to Sell at StockNews.com

StockNews.com downgraded shares of New York Mortgage Trust (NASDAQ:NYMT) from a hold rating to a sell rating in a report released on Saturday morning.

Separately, B. Riley lowered their price objective on New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, New York Mortgage Trust presently has an average rating of “Hold” and a consensus price target of $7.00.

New York Mortgage Trust Trading Up 3.9 %

Shares of NYMT opened at $6.71 on Friday. The company has a quick ratio of 8.25, a current ratio of 11.17 and a debt-to-equity ratio of 8.33. The business’s 50-day moving average price is $6.04 and its 200-day moving average price is $6.09. The stock has a market cap of $607.79 million, a PE ratio of -5.89 and a beta of 1.92. New York Mortgage Trust has a twelve month low of $5.14 and a twelve month high of $7.40.

New York Mortgage Trust (NASDAQ:NYMT) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.47). New York Mortgage Trust had a negative net margin of 15.46% and a negative return on equity of 1.39%. The company had revenue of $26.71 million for the quarter, compared to analysts’ expectations of $20.06 million. On average, equities analysts forecast that New York Mortgage Trust will post 0.51 EPS for the current fiscal year.

New York Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Friday, December 20th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 11.92%. New York Mortgage Trust’s payout ratio is presently -70.18%.

Hedge Funds Weigh In On New York Mortgage Trust

Several institutional investors and hedge funds have recently modified their holdings of NYMT. Invesco Ltd. increased its holdings in shares of New York Mortgage Trust by 20.3% during the fourth quarter. Invesco Ltd. now owns 3,207,439 shares of the real estate investment trust’s stock valued at $19,437,000 after acquiring an additional 542,002 shares in the last quarter. Jane Street Group LLC increased its holdings in New York Mortgage Trust by 191.6% in the 4th quarter. Jane Street Group LLC now owns 479,428 shares of the real estate investment trust’s stock worth $2,905,000 after buying an additional 315,040 shares in the last quarter. Vanguard Group Inc. increased its holdings in New York Mortgage Trust by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 6,422,036 shares of the real estate investment trust’s stock worth $38,918,000 after buying an additional 264,334 shares in the last quarter. Two Sigma Investments LP boosted its position in New York Mortgage Trust by 2,225.9% in the fourth quarter. Two Sigma Investments LP now owns 251,406 shares of the real estate investment trust’s stock worth $1,524,000 after purchasing an additional 240,597 shares during the last quarter. Finally, Northern Trust Corp boosted its position in New York Mortgage Trust by 15.5% in the fourth quarter. Northern Trust Corp now owns 1,148,179 shares of the real estate investment trust’s stock worth $6,958,000 after purchasing an additional 154,181 shares during the last quarter. 54.89% of the stock is currently owned by 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.