New York Mortgage Trust (NASDAQ:NYMT) Sets New 12-Month Low Following Weak Earnings

New York Mortgage Trust, Inc. (NASDAQ:NYMT) hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $5.78 and last traded at $5.91, with a volume of 740315 shares changing hands. The stock had previously closed at $7.02.

The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.42). New York Mortgage Trust had a positive return on equity of 0.87% and a negative net margin of 18.82%. The company had revenue of $83.89 million for the quarter, compared to analyst estimates of $19.64 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share.

New York Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, March 25th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, March 22nd. This represents a $0.80 annualized dividend and a dividend yield of 12.92%. New York Mortgage Trust’s dividend payout ratio is presently -80.81%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NYMT shares. StockNews.com raised shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. B. Riley reiterated a “buy” rating and issued a $11.00 price objective (down previously from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th.

Hedge Funds Weigh In On New York Mortgage Trust

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of New York Mortgage Trust in the 3rd quarter valued at about $185,000. New York State Teachers Retirement System raised its stake in New York Mortgage Trust by 2.4% during the third quarter. New York State Teachers Retirement System now owns 134,612 shares of the real estate investment trust’s stock worth $1,143,000 after acquiring an additional 3,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in New York Mortgage Trust by 35.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,539 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 6,425 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in New York Mortgage Trust by 0.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 899,889 shares of the real estate investment trust’s stock worth $7,640,000 after purchasing an additional 6,705 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in New York Mortgage Trust by 13.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 95,809 shares of the real estate investment trust’s stock worth $813,000 after purchasing an additional 11,721 shares during the last quarter. Institutional investors and hedge funds own 54.89% of the company’s stock.

New York Mortgage Trust Trading Down 11.8 %

The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 4.21. The stock has a market cap of $564.71 million, a P/E ratio of -6.27 and a beta of 1.91. The firm’s 50-day simple moving average is $7.10 and its 200 day simple moving average is $7.85.

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.