Public Sector Pension Investment Board Buys 60,435 Shares of New York Mortgage Trust, Inc. $NYMT

Key Points

• The Public Sector Pension Investment Board increased its stake in New York Mortgage Trust by 26.6%, holding approximately 287,293 shares valued at \$1,865,000 as of the latest SEC filing.
• New York Mortgage Trust reported earnings per share (EPS) of \$0.22 for the quarter, exceeding analysts' expectations of \$0.20, while facing a significant revenue shortfall with only \$17.81 million reported against a forecast of \$38.67 million.
• The company announced a quarterly dividend of \$0.20 per share, reflecting an annualized dividend of \$0.80 and a yield of 11.4%, despite a payout ratio of 421.05%.

Public Sector Pension Investment Board boosted its stake in New York Mortgage Trust, Inc. (NASDAQ:NYMT - Free Report) by 26.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 287,293 shares of the real estate investment trust's stock after purchasing an additional 60,435 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of New York Mortgage Trust worth $1,865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. raised its stake 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 valued at $54,000 after purchasing an additional 1,566 shares in the last quarter. Tower Research Capital LLC TRC raised its stake 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 valued at $78,000 after purchasing an additional 2,014 shares in the last quarter. New York State Teachers Retirement System raised its stake in New York Mortgage Trust by 1.6% in the first quarter. New York State Teachers Retirement System now owns 129,512 shares of the real estate investment trust's stock valued at $841,000 after purchasing an additional 2,100 shares in the last quarter. Barclays PLC raised its stake in New York Mortgage Trust by 5.7% in the fourth quarter. Barclays PLC now owns 159,482 shares of the real estate investment trust's stock valued at $966,000 after purchasing an additional 8,536 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in New York Mortgage Trust during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 54.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Jones Trading reissued a "buy" rating and set a $7.50 target price on shares of New York Mortgage Trust in a research note on Friday, May 2nd. B. Riley boosted their target price on New York Mortgage Trust from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen raised New York Mortgage Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, UBS Group boosted their target price on New York Mortgage Trust from $6.50 to $6.75 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, New York Mortgage Trust presently has an average rating of "Moderate Buy" and a consensus price target of $7.75.

New York Mortgage Trust Trading Up 3.5%

Shares of NASDAQ:NYMT traded up $0.24 during midday trading on Friday, hitting $7.14. 860,936 shares of the stock were exchanged, compared to its average volume of 727,542. The stock has a market capitalization of $644.81 million, a price-to-earnings ratio of 37.58 and a beta of 1.28. The company has a debt-to-equity ratio of 10.13, a quick ratio of 11.70 and a current ratio of 11.70. The business's 50-day moving average price is $6.74 and its 200 day moving average price is $6.51. New York Mortgage Trust, Inc. has a 12 month low of $5.01 and a 12 month high of $7.27.

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 for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $17.81 million for the quarter, compared to analysts' expectations of $38.67 million. New York Mortgage Trust had a return on equity of 7.59% and a net margin of 12.50%. Analysts predict that New York Mortgage Trust, Inc. will post 0.51 earnings per share for the current year.

New York Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 30th. Stockholders of record on Monday, June 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 11.2%. The ex-dividend date was Monday, June 23rd. New York Mortgage Trust's payout ratio is 421.05%.

New York Mortgage Trust Company Profile

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.