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

StockNews.com cut shares of New York Mortgage Trust (NASDAQ:NYMT) from a hold rating to a sell rating in a report issued on Saturday morning.

Separately, B. Riley cut their price target on New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.00.

New York Mortgage Trust Stock Up 0.5 %

NYMT stock opened at $6.46 on Friday. The business’s 50-day moving average price is $6.03 and its 200-day moving average price is $6.09. The stock has a market cap of $585.15 million, a P/E ratio of -5.67 and a beta of 1.92. New York Mortgage Trust has a twelve month low of $5.14 and a twelve month high of $7.49. The company has a quick ratio of 8.25, a current ratio of 11.17 and a debt-to-equity ratio of 8.33.

New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.47). The firm had revenue of $26.71 million for the quarter, compared to analysts’ expectations of $20.06 million. New York Mortgage Trust had a negative net margin of 15.46% and a negative return on equity of 1.39%. On average, equities research analysts forecast that New York Mortgage Trust will post 0.51 EPS for the current year.

New York Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Friday, December 20th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 12.38%. The ex-dividend date of this dividend was Friday, December 20th. New York Mortgage Trust’s dividend payout ratio (DPR) is presently -70.18%.

Hedge Funds Weigh In On New York Mortgage Trust

Several institutional investors have recently bought and sold shares of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of New York Mortgage Trust during the 4th quarter valued at about $49,000. McIlrath & Eck LLC purchased a new stake in shares of New York Mortgage Trust in the third quarter worth about $62,000. Caxton Associates LP purchased a new stake in shares of New York Mortgage Trust in the fourth quarter worth about $69,000. Sequoia Financial Advisors LLC bought a new position in New York Mortgage Trust during the third quarter valued at approximately $76,000. Finally, Tower Research Capital LLC TRC grew its holdings in New York Mortgage Trust by 18.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,945 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 2,014 shares in the last quarter. 54.89% of the stock is owned by hedge funds and other institutional investors.

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.