New York Mortgage Trust (NYMT) Downgraded to “Hold” at Zacks Investment Research

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.

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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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