Zacks Investment Research downgraded shares of New York Mortgage Trust (NASDAQ:NYMT) from a buy rating to a hold rating in a report published on Tuesday morning.
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. “
A number of other analysts have also issued reports on NYMT. Barclays lifted their price target on 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. B. Riley reaffirmed a neutral rating and issued a $6.25 price target on shares of New York Mortgage Trust in a research note on Tuesday, November 7th. BidaskClub lowered New York Mortgage Trust from a sell rating to a strong sell rating in a research note on Thursday, December 21st. Keefe, Bruyette & Woods set a $6.00 price target on New York Mortgage Trust and gave the stock a hold rating in a research note on Sunday, November 12th. Finally, Maxim Group reissued a buy rating and set a $6.50 price objective on shares of New York Mortgage Trust in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $6.35.
Shares of New York Mortgage Trust (NYMT) traded down $0.07 during trading hours on Tuesday, hitting $6.07. The stock had a trading volume of 639,387 shares, compared to its average volume of 892,513. The company has a debt-to-equity ratio of 13.26, a current ratio of 71.04 and a quick ratio of 71.04. The firm has a market capitalization of $678.95, a price-to-earnings ratio of 12.14 and a beta of 1.36. New York Mortgage Trust has a 12-month low of $5.90 and a 12-month high of $6.81.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Monday, December 18th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 13.18%. The ex-dividend date of this dividend is Friday, December 15th. New York Mortgage Trust’s dividend payout ratio (DPR) is currently 160.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NYMT. SG Americas Securities LLC acquired a new position in New York Mortgage Trust during the third quarter worth $115,000. BNP Paribas Arbitrage SA boosted its stake in New York Mortgage Trust by 183.4% during the second quarter. BNP Paribas Arbitrage SA now owns 21,139 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 13,679 shares during the last quarter. ETRADE Capital Management LLC boosted its stake in New York Mortgage Trust by 4.2% during the second quarter. ETRADE Capital Management LLC now owns 21,127 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 851 shares during the last quarter. Sei Investments Co. boosted its stake in New York Mortgage Trust by 50.4% during the second quarter. Sei Investments Co. now owns 23,931 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 8,018 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in New York Mortgage Trust during the second quarter worth $160,000. 37.80% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: This piece was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/01/13/new-york-mortgage-trust-nymt-downgraded-to-hold-at-zacks-investment-research.html.
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.
Get a free copy of the Zacks research report on New York Mortgage Trust (NYMT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for New York Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.