New York Mortgage Trust, Inc. (NASDAQ:NYMT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “New York Mortgage Trust is a real estate investment trust focused on owning and managing a leveraged portfolio of residential mortgage securities and a mortgage origination business. The mortgage portfolio is comprised largely of prime adjustable-rate and hybrid mortgage loans and securities, much of which, over time will be originated by NYMT’s wholly owned mortgage origination business, The New York Mortgage Company, a taxable real estate investment trust subsidiary. “

Several other brokerages also recently commented on NYMT. TheStreet downgraded New York Mortgage Trust from a “c” rating to a “d+” rating in a research note on Friday, August 4th. Keefe, Bruyette & Woods set a $6.00 target price on New York Mortgage Trust and gave the stock a “hold” rating in a research note on Monday, August 14th. Finally, BidaskClub upgraded New York Mortgage Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $6.42.

Shares of New York Mortgage Trust (NASDAQ NYMT) traded up 0.561% during midday trading on Tuesday, reaching $6.275. 25,151 shares of the company’s stock traded hands. The firm has a market capitalization of $702.12 million, a P/E ratio of 12.304 and a beta of 1.38. New York Mortgage Trust has a 52-week low of $5.65 and a 52-week high of $7.04. The stock’s 50 day moving average price is $6.24 and its 200 day moving average price is $6.31.

New York Mortgage Trust (NASDAQ:NYMT) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.04. New York Mortgage Trust had a return on equity of 10.05% and a net margin of 19.62%. The business had revenue of $15.71 million for the quarter, compared to the consensus estimate of $17.42 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that New York Mortgage Trust will post $0.54 EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in NYMT. Global X Management Co. LLC boosted its stake in New York Mortgage Trust by 69.4% in the first quarter. Global X Management Co. LLC now owns 2,498,124 shares of the real estate investment trust’s stock valued at $15,413,000 after buying an additional 1,023,434 shares during the last quarter. UBS Group AG boosted its stake in New York Mortgage Trust by 26.5% in the first quarter. UBS Group AG now owns 2,947,802 shares of the real estate investment trust’s stock valued at $18,188,000 after buying an additional 617,466 shares during the last quarter. LSV Asset Management boosted its stake in New York Mortgage Trust by 11.3% in the first quarter. LSV Asset Management now owns 3,457,511 shares of the real estate investment trust’s stock valued at $21,332,000 after buying an additional 349,811 shares during the last quarter. Vanguard Group Inc. boosted its stake in New York Mortgage Trust by 3.7% in the second quarter. Vanguard Group Inc. now owns 4,684,792 shares of the real estate investment trust’s stock valued at $29,139,000 after buying an additional 169,079 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in New York Mortgage Trust by 38.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 584,089 shares of the real estate investment trust’s stock valued at $3,634,000 after buying an additional 163,438 shares during the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

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.

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