New York Mortgage Trust (NASDAQ:NYMT) Price Target Lowered to $7.00 at Keefe, Bruyette & Woods

New York Mortgage Trust (NASDAQ:NYMT) had its price target cut by Keefe, Bruyette & Woods from $8.50 to $7.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a market perform rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the company. StockNews.com upgraded New York Mortgage Trust from a sell rating to a hold rating in a report on Thursday, February 22nd. B. Riley restated a buy rating and issued a $11.00 price objective (down from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th.

New York Mortgage Trust Stock Performance

NASDAQ:NYMT traded down $0.06 during midday trading on Friday, hitting $6.15. The company’s stock had a trading volume of 1,018,640 shares, compared to its average volume of 619,220. The firm’s 50 day moving average is $7.06 and its 200-day moving average is $7.82. The firm has a market cap of $561.06 million, a P/E ratio of -3.36 and a beta of 1.91. New York Mortgage Trust has a fifty-two week low of $5.78 and a fifty-two week high of $10.63. The company has a debt-to-equity ratio of 5.03, a current ratio of 4.02 and a quick ratio of 4.29.

New York Mortgage Trust (NASDAQ:NYMT) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $19.64 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. Equities 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 firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 25th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, March 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 13.01%. New York Mortgage Trust’s dividend payout ratio (DPR) is presently -43.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NYMT. Charles Schwab Investment Management Inc. increased its position in shares of New York Mortgage Trust by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock valued at $13,032,000 after purchasing an additional 132,162 shares during the last quarter. Wolverine Asset Management LLC raised its position in shares of New York Mortgage Trust by 7.0% during the 3rd quarter. Wolverine Asset Management LLC now owns 975,993 shares of the real estate investment trust’s stock worth $8,286,000 after acquiring an additional 63,504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in New York Mortgage Trust by 0.8% during the third 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. Van ECK Associates Corp raised its stake in New York Mortgage Trust by 1.3% during the 1st quarter. Van ECK Associates Corp now owns 578,929 shares of the real estate investment trust’s stock worth $4,168,000 after acquiring an additional 7,316 shares in the last quarter. Finally, EMG Holdings L.P. boosted its position in shares of New York Mortgage Trust by 192.1% in the 4th 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 during the period. 54.89% of the stock is owned by institutional investors and hedge funds.

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.