Zacks Investment Research upgraded shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) from a sell rating to a hold rating in a research note released on Wednesday, October 18th.
According to Zacks, “New York Mortgage Trust is a real estate investment trust focused on owning and managing a leveraged portfolio of residential mortgage securities and a mortgage origination business. The mortgage portfolio is comprised largely of prime adjustable-rate and hybrid mortgage loans and securities, much of which, over time will be originated by NYMT’s wholly owned mortgage origination business, The New York Mortgage Company, a taxable real estate investment trust subsidiary. “
Several other brokerages have also issued reports on NYMT. BidaskClub lowered shares of New York Mortgage Trust from a buy rating to a hold rating in a research note on Tuesday, August 1st. Barclays PLC raised their price target on shares of New York Mortgage Trust from $5.00 to $6.00 and gave the stock an equal weight rating in a research note on Tuesday, October 10th. Keefe, Bruyette & Woods set a $6.00 price target on shares of New York Mortgage Trust and gave the stock a hold rating in a research note on Monday, August 14th. Finally, TheStreet lowered shares of New York Mortgage Trust from a c rating to a d+ rating in a research note on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. New York Mortgage Trust currently has a consensus rating of Hold and a consensus price target of $6.33.
Shares of New York Mortgage Trust (NYMT) traded up 0.99% during trading on Wednesday, reaching $6.13. The company’s stock had a trading volume of 1,222,540 shares. The firm has a market cap of $685.89 million, a PE ratio of 12.02 and a beta of 1.37. The stock’s 50 day moving average price is $6.25 and its 200-day moving average price is $6.27. New York Mortgage Trust has a 12 month low of $5.72 and a 12 month high of $7.04.
New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04). New York Mortgage Trust had a return on equity of 10.05% and a net margin of 19.62%. The company had revenue of $15.71 million for the quarter, compared to analysts’ expectations of $17.42 million. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities analysts predict that New York Mortgage Trust will post $0.53 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 25th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 13.05%. New York Mortgage Trust’s dividend payout ratio is 156.87%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in New York Mortgage Trust by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,684,792 shares of the real estate investment trust’s stock valued at $29,139,000 after buying an additional 169,079 shares in the last quarter. Global X Management Co. LLC grew its stake in New York Mortgage Trust by 7.1% in the 2nd quarter. Global X Management Co. LLC now owns 2,674,312 shares of the real estate investment trust’s stock valued at $16,634,000 after buying an additional 176,188 shares in the last quarter. State Street Corp grew its stake in New York Mortgage Trust by 5.8% in the 2nd quarter. State Street Corp now owns 2,325,571 shares of the real estate investment trust’s stock valued at $14,468,000 after buying an additional 126,981 shares in the last quarter. Northern Trust Corp grew its stake in New York Mortgage Trust by 4.7% in the 2nd quarter. Northern Trust Corp now owns 2,114,941 shares of the real estate investment trust’s stock valued at $13,155,000 after buying an additional 95,079 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in New York Mortgage Trust by 11.5% in the 1st quarter. Geode Capital Management LLC now owns 918,770 shares of the real estate investment trust’s stock valued at $5,668,000 after buying an additional 94,769 shares in the last quarter. Institutional investors and hedge funds own 36.12% of the company’s stock.
New York Mortgage Trust Company Profile
New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.
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