New York Mortgage Trust (NASDAQ:NYMT) Shares Up 3.9% – Still a Buy?

New York Mortgage Trust, Inc. (NASDAQ:NYMT) shares shot up 3.9% during trading on Monday . The stock traded as high as $6.54 and last traded at $6.55. 440,969 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 679,272 shares. The stock had previously closed at $6.30.

Wall Street Analysts Forecast Growth

NYMT has been the subject of several research analyst reports. B. Riley dropped their price objective on shares of 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. StockNews.com upgraded New York Mortgage Trust from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.00.

New York Mortgage Trust Trading Up 3.0 %

The company has a market capitalization of $587.78 million, a price-to-earnings ratio of -5.69 and a beta of 1.93. The company has a current ratio of 11.17, a quick ratio of 8.25 and a debt-to-equity ratio of 8.33. The business’s 50 day moving average price is $6.44 and its two-hundred day moving average price is $6.16.

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

New York Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Monday, March 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 12.33%. The ex-dividend date of this dividend is Monday, March 31st. New York Mortgage Trust’s dividend payout ratio (DPR) is currently -70.18%.

Institutional Trading of New York Mortgage Trust

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in shares of New York Mortgage Trust by 18.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,945 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 2,014 shares during the last quarter. Inceptionr LLC boosted its position in shares of New York Mortgage Trust by 14.5% during the 4th quarter. Inceptionr LLC now owns 43,505 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 5,513 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in New York Mortgage Trust during the fourth quarter worth approximately $49,000. Barclays PLC lifted its stake in New York Mortgage Trust by 5.7% in the fourth quarter. Barclays PLC now owns 159,482 shares of the real estate investment trust’s stock valued at $966,000 after buying an additional 8,536 shares during the period. Finally, McIlrath & Eck LLC bought a new position in shares of New York Mortgage Trust during the 3rd quarter worth approximately $62,000. Institutional investors own 54.89% of the company’s stock.

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.