Vanguard Group Inc. Lowers Holdings in New York Mortgage Trust, Inc. $NYMT

Key Points

• Vanguard Group Inc. reduced its stake in New York Mortgage Trust by 3.2%, owning approximately 6.89% of the company after selling 204,075 shares during the first quarter.
• Several institutional investors, including PNC Financial Services and Caxton Associates LP, have increased their holdings in New York Mortgage Trust, indicating a mixed sentiment among major investors.
• The company recently announced a quarterly dividend of $0.20 per share, representing an annualized yield of 11.2%, despite a high payout ratio of 421.05%.

Vanguard Group Inc. trimmed its position in New York Mortgage Trust, Inc. (NASDAQ:NYMT - Free Report) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,217,961 shares of the real estate investment trust's stock after selling 204,075 shares during the period. Vanguard Group Inc. owned approximately 6.89% of New York Mortgage Trust worth $40,355,000 as of its most recent SEC filing.

Other institutional investors also recently 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 purchasing an additional 1,566 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of New York Mortgage Trust during the 4th quarter worth $69,000. Tower Research Capital LLC TRC boosted its position in shares of New York Mortgage Trust by 18.4% during the 4th 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 purchased a new stake in shares of New York Mortgage Trust during the 4th quarter worth $80,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of New York Mortgage Trust during the 1st quarter worth $86,000. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on NYMT. Jones Trading restated a "buy" rating and set a $7.50 target price on shares of New York Mortgage Trust in a research report on Friday, May 2nd. UBS Group boosted their target price on shares of New York Mortgage Trust from $6.50 to $6.75 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. 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, B. Riley lifted their price target 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. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, New York Mortgage Trust has a consensus rating of "Moderate Buy" and a consensus target price of $7.75.

New York Mortgage Trust Trading Up 0.8%

Shares of NYMT stock opened at $7.16 on Wednesday. The firm has a 50-day moving average price of $6.76 and a 200 day moving average price of $6.52. New York Mortgage Trust, Inc. has a twelve month low of $5.01 and a twelve month high of $7.27. The company has a market capitalization of $646.62 million, a price-to-earnings ratio of 37.68 and a beta of 1.28. The company has a current ratio of 11.70, a quick ratio of 11.70 and a debt-to-equity ratio of 10.13.

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.22 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $38.67 million. 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 Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.80 annualized dividend and a yield of 11.2%. New York Mortgage Trust's payout ratio is presently 421.05%.

New York Mortgage Trust 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.

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