Janney Montgomery Scott Upgrades New York Mortgage Trust (NASDAQ:NYMT) to “Hold”

New York Mortgage Trust (NASDAQ:NYMT) was upgraded by stock analysts at Janney Montgomery Scott to a “hold” rating in a research note issued to investors on Monday, MarketBeat.com reports.

Several other research analysts have also recently commented on NYMT. Keefe, Bruyette & Woods lowered their target price on shares of New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. UBS Group lowered their target price on shares of New York Mortgage Trust from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Finally, StockNews.com cut shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.75.

New York Mortgage Trust Trading Up 0.8 %

Shares of NASDAQ:NYMT opened at $6.17 on Monday. New York Mortgage Trust has a 52-week low of $5.51 and a 52-week high of $9.68. The company has a market capitalization of $562.88 million, a P/E ratio of -3.34 and a beta of 1.93. The company has a 50-day simple moving average of $6.21 and a 200 day simple moving average of $6.68. The company has a debt-to-equity ratio of 6.30, a quick ratio of 4.02 and a current ratio of 6.46.

Institutional Trading of New York Mortgage Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of New York Mortgage Trust by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock worth $13,032,000 after purchasing an additional 132,162 shares during the period. EMG Holdings L.P. increased its stake in New York Mortgage Trust by 192.1% in the fourth quarter. EMG Holdings L.P. now owns 555,930 shares of the real estate investment trust’s stock valued at $4,742,000 after purchasing an additional 365,622 shares in the last quarter. New York State Common Retirement Fund increased its stake in New York Mortgage Trust by 19.7% in the fourth 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 purchasing an additional 5,594 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in New York Mortgage Trust by 0.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 833,702 shares of the real estate investment trust’s stock valued at $6,003,000 after purchasing an additional 6,148 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in New York Mortgage Trust by 11.7% in the fourth quarter. Yousif Capital Management LLC now owns 51,046 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 5,352 shares in the last quarter. Institutional investors and hedge funds own 54.89% of the company’s stock.

About New York Mortgage Trust

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.