Public Sector Pension Investment Board Purchases 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 lifted its stake in shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT - Free Report) by 26.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,293 shares of the real estate investment trust's stock after acquiring an additional 60,435 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of New York Mortgage Trust worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of New York Mortgage Trust by 23.1% during 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 acquiring an additional 1,566 shares during the last quarter. Caxton Associates LP bought a new position in shares of New York Mortgage Trust during the fourth quarter worth about $69,000. Tower Research Capital LLC TRC raised its position in shares of New York Mortgage Trust by 18.4% during 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 acquiring an additional 2,014 shares during the last quarter. Guggenheim Capital LLC bought a new position in shares of New York Mortgage Trust during the fourth quarter worth about $80,000. Finally, Stifel Financial Corp bought a new position in shares of New York Mortgage Trust during the fourth quarter worth about $86,000. 54.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on NYMT. B. Riley lifted their target price on New York Mortgage Trust from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group lifted their target price on New York Mortgage Trust from $6.50 to $6.75 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Jones Trading reiterated a "buy" rating and issued a $7.50 target price on shares of New York Mortgage Trust in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded New York Mortgage Trust from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, New York Mortgage Trust presently has a consensus rating of "Moderate Buy" and an average price target of $7.75.

New York Mortgage Trust Stock Up 0.8%

New York Mortgage Trust stock traded up $0.06 during mid-day trading on Tuesday, reaching $7.16. The stock had a trading volume of 353,395 shares, compared to its average volume of 738,053. The stock's 50-day simple moving average is $6.76 and its 200-day simple moving average is $6.52. New York Mortgage Trust, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $7.27. The firm has a market capitalization of $646.62 million, a PE ratio of 37.68 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.

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. New York Mortgage Trust had a return on equity of 7.59% and a net margin of 12.50%.The business had revenue of $17.81 million during the quarter, compared to the consensus estimate of $38.67 million. On average, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, July 30th. Investors of record on Monday, June 23rd were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 23rd. This represents a $0.80 annualized dividend and a yield of 11.2%. New York Mortgage Trust's dividend payout ratio is 421.05%.

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.