MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 450,501 Shares of New York Mortgage Trust, Inc. $NYMT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in New York Mortgage Trust by 32.0% during the first quarter, owning approximately 2.06% of the company worth $12,074,000 after acquiring an additional 450,501 shares.
• New York Mortgage Trust reported quarterly earnings with an EPS of $0.22, exceeding analyst expectations of $0.20, but with revenue falling short at $17.81 million compared to forecasts of $38.67 million.
• UBS Group raised its price target for New York Mortgage Trust from $6.75 to $7.25 while maintaining a "neutral" rating, amidst a general consensus rating of "Moderate Buy" with an average target price of $7.92.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT - Free Report) by 32.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,860,410 shares of the real estate investment trust's stock after acquiring an additional 450,501 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.06% of New York Mortgage Trust worth $12,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of New York Mortgage Trust by 23.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,334 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 1,566 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of New York Mortgage Trust during the 1st quarter worth approximately $74,000. Ieq Capital LLC acquired a new stake in shares of New York Mortgage Trust during the 1st quarter worth approximately $82,000. Teacher Retirement System of Texas acquired a new stake in shares of New York Mortgage Trust during the 1st quarter worth approximately $86,000. Finally, Stifel Financial Corp acquired a new stake in shares of New York Mortgage Trust during the 4th quarter worth approximately $86,000. Institutional investors and hedge funds own 54.89% of the company's stock.

New York Mortgage Trust Stock Performance

The company's 50-day simple moving average is $6.87 and its two-hundred day simple moving average is $6.59. The company has a debt-to-equity ratio of 10.13, a current ratio of 11.70 and a quick ratio of 11.70. The company has a market capitalization of $640.75 million, a P/E ratio of 37.34 and a beta of 1.32. New York Mortgage Trust, Inc. has a 52 week low of $5.01 and a 52 week high of $7.27.

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.22 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $17.81 million for the quarter, compared to analysts' expectations of $38.67 million. As a group, sell-side analysts forecast that New York Mortgage Trust, Inc. will post 0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, UBS Group increased their price objective on shares of New York Mortgage Trust from $6.75 to $7.25 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, New York Mortgage Trust currently has an average rating of "Moderate Buy" and an average price target of $7.92.

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.