New York Mortgage Trust, Inc. (NASDAQ:NYMT) Downgraded to Hold at BidaskClub
BidaskClub downgraded shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) from a buy rating to a hold rating in a research note published on Tuesday, August 1st.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of New York Mortgage Trust from a sell rating to a hold rating in a research note on Wednesday, July 5th. Keefe, Bruyette & Woods set a $6.00 price target on shares of New York Mortgage Trust and gave the stock a hold rating in a research report on Wednesday, May 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. New York Mortgage Trust currently has an average rating of Hold and an average price target of $6.42.
New York Mortgage Trust (NASDAQ NYMT) traded up 0.16% during mid-day trading on Tuesday, reaching $6.19. 909,165 shares of the company were exchanged. New York Mortgage Trust has a 12-month low of $5.65 and a 12-month high of $7.04. The stock has a market capitalization of $692.61 million, a price-to-earnings ratio of 12.14 and a beta of 1.38. The company’s 50 day moving average price is $6.26 and its 200-day moving average price is $6.32.
New York Mortgage Trust (NASDAQ:NYMT) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by $0.04. New York Mortgage Trust had a net margin of 19.62% and a return on equity of 10.05%. The firm had revenue of $15.71 million during the quarter, compared to the consensus estimate of $17.42 million. During the same period in the prior year, the business earned $0.10 earnings per share. New York Mortgage Trust’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts forecast that New York Mortgage Trust will post $0.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 26th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 12.92%. The ex-dividend date of this dividend was Thursday, June 22nd. New York Mortgage Trust’s dividend payout ratio is presently 156.87%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its position in shares of New York Mortgage Trust by 12.1% in the first quarter. Van ECK Associates Corp now owns 482,326 shares of the real estate investment trust’s stock worth $2,976,000 after buying an additional 52,119 shares during the last quarter. Menta Capital LLC acquired a new stake in shares of New York Mortgage Trust during the first quarter worth approximately $560,000. Wells Fargo & Company MN raised its stake in shares of New York Mortgage Trust by 8.4% in the first quarter. Wells Fargo & Company MN now owns 102,423 shares of the real estate investment trust’s stock worth $632,000 after buying an additional 7,947 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of New York Mortgage Trust during the first quarter worth approximately $434,000. Finally, State Street Corp raised its position in shares of New York Mortgage Trust by 7.7% in the fourth quarter. State Street Corp now owns 2,164,690 shares of the real estate investment trust’s stock valued at $14,284,000 after buying an additional 153,943 shares in the last quarter. Institutional investors and hedge funds own 36.21% of the company’s stock.
About New York Mortgage Trust
New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.
Receive News & Ratings for New York Mortgage Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Mortgage Trust Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.