Charles Schwab Investment Management Inc. Buys 105,288 Shares of New York Mortgage Trust, Inc. $NYMT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in New York Mortgage Trust, Inc. by 9.8%, owning approximately $7.65 million worth of shares following the acquisition of additional shares.
• Wall Street analysts have a consensus rating of "Moderate Buy" for New York Mortgage Trust, with target prices ranging from $6.75 to $9.00.
• New York Mortgage Trust reported $0.22 earnings per share for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.20 per share, yielding 11.2%.

Charles Schwab Investment Management Inc. increased its holdings in New York Mortgage Trust, Inc. (NASDAQ:NYMT - Free Report) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,179,141 shares of the real estate investment trust's stock after purchasing an additional 105,288 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.31% of New York Mortgage Trust worth $7,653,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in New York Mortgage Trust by 23.1% in the first quarter. PNC Financial Services Group Inc. now owns 8,334 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 1,566 shares in the last quarter. Caxton Associates LP bought a new stake in New York Mortgage Trust in the fourth quarter worth $69,000. Tower Research Capital LLC TRC boosted its holdings in New York Mortgage Trust by 18.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,945 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 2,014 shares in the last quarter. Guggenheim Capital LLC bought a new stake in New York Mortgage Trust in the fourth quarter worth $80,000. Finally, Teacher Retirement System of Texas bought a new stake in New York Mortgage Trust in the first quarter worth $86,000. 54.89% of the stock is currently owned by institutional investors.

New York Mortgage Trust Stock Performance

NYMT stock traded up $0.16 during mid-day trading on Monday, reaching $7.22. 433,672 shares of the stock traded hands, compared to its average volume of 569,426. The company has a quick ratio of 11.70, a current ratio of 11.70 and a debt-to-equity ratio of 10.13. New York Mortgage Trust, Inc. has a 52 week low of $5.01 and a 52 week high of $7.27. The business has a 50-day moving average of $6.80 and a two-hundred day moving average of $6.56. The firm has a market capitalization of $652.04 million, a PE ratio of 38.00 and a beta of 1.32.

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. New York Mortgage Trust had a net margin of 12.50% and a return on equity of 7.59%. The company had revenue of $17.81 million during the quarter, compared to analysts' expectations of $38.67 million. As a group, equities analysts predict that New York Mortgage Trust, Inc. will post 0.51 EPS for the current fiscal year.

New York Mortgage Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 30th. Investors of record on Monday, June 23rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 11.1%. The ex-dividend date was Monday, June 23rd. New York Mortgage Trust's dividend payout ratio (DPR) is presently 421.05%.

Analysts Set New Price Targets

Separately, UBS Group upped their price target on shares of New York Mortgage Trust from $6.50 to $6.75 and gave the company a "neutral" rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $7.75.

About New York Mortgage Trust

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, including business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgage, residential housing, and credit-related assets.