Nuveen LLC Buys Shares of 220,943 New York Mortgage Trust, Inc. $NYMT

Key Points

• Nuveen LLC acquired 220,943 shares of New York Mortgage Trust, Inc., valued at approximately $1.43 million, representing about 0.24% of the company's total shares.
• Analysts from UBS Group raised the target price for New York Mortgage Trust shares from $6.50 to $6.75, maintaining a "neutral" rating, with a consensus target price of $7.75.
• The company recently declared a quarterly dividend of $0.20 per share, equating to an annualized yield of 11.1%, although its dividend payout ratio is notably high at 421.05%.

Nuveen LLC bought a new position in shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 220,943 shares of the real estate investment trust's stock, valued at approximately $1,434,000. Nuveen LLC owned about 0.24% of New York Mortgage Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NYMT. Jane Street Group LLC boosted its holdings in shares of New York Mortgage Trust by 191.6% during the 4th quarter. Jane Street Group LLC now owns 479,428 shares of the real estate investment trust's stock worth $2,905,000 after purchasing an additional 315,040 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of New York Mortgage Trust by 2,225.9% during the 4th quarter. Two Sigma Investments LP now owns 251,406 shares of the real estate investment trust's stock worth $1,524,000 after purchasing an additional 240,597 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of New York Mortgage Trust by 15.5% during the 4th quarter. Northern Trust Corp now owns 1,148,179 shares of the real estate investment trust's stock worth $6,958,000 after purchasing an additional 154,181 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of New York Mortgage Trust by 3.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,772,564 shares of the real estate investment trust's stock worth $24,484,000 after purchasing an additional 138,835 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of New York Mortgage Trust by 15.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 978,838 shares of the real estate investment trust's stock worth $5,932,000 after purchasing an additional 133,735 shares during the last quarter. 54.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, UBS Group boosted their target price on New York Mortgage Trust from $6.75 to $7.25 and gave the stock a "neutral" rating in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $7.92.

New York Mortgage Trust Trading Down 1.7%

Shares of NYMT stock traded down $0.13 during trading on Thursday, hitting $7.10. 873,670 shares of the stock traded hands, compared to its average volume of 525,416. The firm has a market capitalization of $640.75 million, a P/E ratio of 37.34 and a beta of 1.32. 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 firm's fifty day moving average price is $6.82 and its 200-day moving average price is $6.56. 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 released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $17.81 million for the quarter, compared to analyst estimates of $38.67 million. New York Mortgage Trust had a net margin of 12.50% and a return on equity of 7.59%. As a group, research analysts forecast that New York Mortgage Trust, Inc. will post 0.51 earnings per share for the current fiscal 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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 11.3%. The ex-dividend date of this dividend was Monday, June 23rd. New York Mortgage Trust's payout ratio is presently 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.