New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating) has received a consensus recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $3.82.
Several equities research analysts recently issued reports on the company. Jonestrading dropped their price target on New York Mortgage Trust from $4.25 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 4th. TheStreet lowered New York Mortgage Trust from a “c-” rating to a “d+” rating in a research report on Wednesday, August 3rd. B. Riley cut their price target on New York Mortgage Trust from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, October 25th. StockNews.com raised New York Mortgage Trust to a “sell” rating in a research note on Friday, November 11th. Finally, Credit Suisse Group cut their price objective on New York Mortgage Trust to $3.00 in a research note on Thursday, October 13th.
Hedge Funds Weigh In On New York Mortgage Trust
Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SNC boosted its holdings in shares of New York Mortgage Trust by 52.1% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 177,540 shares of the real estate investment trust’s stock valued at $415,000 after purchasing an additional 60,811 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in New York Mortgage Trust by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 390,458 shares of the real estate investment trust’s stock valued at $914,000 after purchasing an additional 15,897 shares during the last quarter. Vanguard Group Inc. boosted its stake in New York Mortgage Trust by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 26,414,738 shares of the real estate investment trust’s stock valued at $61,810,000 after purchasing an additional 664,045 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of New York Mortgage Trust by 16.9% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 218,229 shares of the real estate investment trust’s stock worth $511,000 after buying an additional 31,562 shares during the last quarter. Finally, Evergreen Capital Management LLC purchased a new position in shares of New York Mortgage Trust in the 3rd quarter worth approximately $26,000. Institutional investors and hedge funds own 54.74% of the company’s stock.
New York Mortgage Trust Stock Down 0.4 %
Shares of NASDAQ:NYMT opened at $2.74 on Tuesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.57 and a current ratio of 11.57. New York Mortgage Trust has a 1 year low of $2.07 and a 1 year high of $3.99. The stock has a market capitalization of $1.02 billion, a P/E ratio of -3.86 and a beta of 1.70. The stock has a 50-day simple moving average of $2.56 and a 200-day simple moving average of $2.77.
New York Mortgage Trust Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Investors of record on Monday, September 26th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 23rd. This represents a $0.40 annualized dividend and a yield of 14.60%. New York Mortgage Trust’s payout ratio is presently -56.34%.
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, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.
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