New York Mortgage Trust, Inc. (NASDAQ:NYMT) Expected to Post Quarterly Sales of $29.76 Million

Analysts expect that New York Mortgage Trust, Inc. (NASDAQ:NYMTGet Rating) will post sales of $29.76 million for the current quarter, Zacks reports. Two analysts have made estimates for New York Mortgage Trust’s earnings, with the highest sales estimate coming in at $36.43 million and the lowest estimate coming in at $23.10 million. New York Mortgage Trust posted sales of $31.48 million during the same quarter last year, which suggests a negative year over year growth rate of 5.5%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that New York Mortgage Trust will report full-year sales of $127.71 million for the current financial year, with estimates ranging from $102.10 million to $153.32 million. For the next fiscal year, analysts anticipate that the firm will report sales of $108.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover New York Mortgage Trust.

New York Mortgage Trust (NASDAQ:NYMTGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.30). New York Mortgage Trust had a net margin of 31.18% and a return on equity of 7.42%. During the same period in the previous year, the company posted $0.11 earnings per share.

NYMT has been the topic of a number of research analyst reports. Maxim Group reiterated a “buy” rating and issued a $5.00 target price on shares of New York Mortgage Trust in a report on Friday, February 18th. TheStreet cut New York Mortgage Trust from a “b-” rating to a “c+” rating in a report on Monday, February 14th. Bank of America reduced their target price on New York Mortgage Trust from $4.50 to $3.75 and set an “underperform” rating on the stock in a report on Wednesday, March 9th. StockNews.com cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. Finally, Jonestrading reduced their price objective on New York Mortgage Trust from $5.00 to $4.50 and set a “buy” rating on the stock in a research note on Tuesday, February 22nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.33.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of New York Mortgage Trust by 2.9% in the first quarter. Vanguard Group Inc. now owns 25,413,787 shares of the real estate investment trust’s stock worth $92,760,000 after acquiring an additional 714,954 shares in the last quarter. State Street Corp lifted its stake in shares of New York Mortgage Trust by 8.6% in the first quarter. State Street Corp now owns 14,478,874 shares of the real estate investment trust’s stock worth $54,204,000 after acquiring an additional 1,144,802 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of New York Mortgage Trust in the fourth quarter worth about $40,377,000. Geode Capital Management LLC lifted its stake in shares of New York Mortgage Trust by 1.5% in the third quarter. Geode Capital Management LLC now owns 6,824,362 shares of the real estate investment trust’s stock worth $29,071,000 after acquiring an additional 103,979 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of New York Mortgage Trust by 26.5% in the first quarter. Invesco Ltd. now owns 6,009,670 shares of the real estate investment trust’s stock worth $21,935,000 after acquiring an additional 1,259,010 shares in the last quarter. Institutional investors and hedge funds own 54.25% of the company’s stock.

New York Mortgage Trust stock traded up $0.04 during midday trading on Friday, reaching $3.06. The stock had a trading volume of 2,083,065 shares, compared to its average volume of 3,525,752. New York Mortgage Trust has a twelve month low of $2.84 and a twelve month high of $4.93. The stock has a market capitalization of $1.17 billion, a PE ratio of 61.20, a price-to-earnings-growth ratio of 8.76 and a beta of 1.77. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.03 and a current ratio of 4.03. The stock’s 50-day simple moving average is $3.30 and its 200 day simple moving average is $3.59.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 25th. Shareholders of record on Thursday, March 24th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 13.07%. The ex-dividend date was Wednesday, March 23rd. New York Mortgage Trust’s dividend payout ratio is presently 800.00%.

About New York Mortgage Trust (Get Rating)

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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