New York Mortgage Trust (NASDAQ:NYMT) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of New York Mortgage Trust (NASDAQ:NYMT) from a hold rating to a sell rating in a research report released on Friday morning.

Other equities research analysts have also recently issued research reports about the stock. B. Riley reiterated a buy rating and set a $11.00 price target (down previously from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th. Keefe, Bruyette & Woods reduced their target price on New York Mortgage Trust from $8.50 to $7.00 and set a market perform rating for the company in a report on Friday.

New York Mortgage Trust Stock Performance

Shares of NYMT opened at $6.21 on Friday. The company has a quick ratio of 4.29, a current ratio of 4.02 and a debt-to-equity ratio of 5.03. The stock has a market cap of $566.54 million, a P/E ratio of -3.36 and a beta of 1.91. The business’s 50 day moving average price is $7.06 and its 200-day moving average price is $7.82. New York Mortgage Trust has a 52 week low of $5.78 and a 52 week high of $10.63.

New York Mortgage Trust (NASDAQ:NYMT) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.42). New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. The company had revenue of $83.89 million during the quarter, compared to the consensus estimate of $19.64 million. During the same period last year, the firm posted $0.11 earnings per share. Equities research analysts anticipate that New York Mortgage Trust will post 0.55 earnings per share for the current fiscal year.

New York Mortgage Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, March 25th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 12.88%. The ex-dividend date was Friday, March 22nd. New York Mortgage Trust’s dividend payout ratio is currently -43.24%.

Institutional Investors Weigh In On New York Mortgage Trust

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of New York Mortgage Trust in the third quarter worth $185,000. New York State Teachers Retirement System grew its stake in shares of New York Mortgage Trust by 2.4% during the 3rd quarter. New York State Teachers Retirement System now owns 134,612 shares of the real estate investment trust’s stock valued at $1,143,000 after purchasing an additional 3,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of New York Mortgage Trust by 35.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,539 shares of the real estate investment trust’s stock valued at $208,000 after purchasing an additional 6,425 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of New York Mortgage Trust by 13.9% in the third quarter. Nisa Investment Advisors LLC now owns 95,809 shares of the real estate investment trust’s stock worth $813,000 after buying an additional 11,721 shares during the last quarter. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

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.