Vanguard Group Inc. Sells 204,075 Shares of 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 holdings in shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT - Free Report) by 3.2% in the first quarter, according to the company in its most recent Form 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 6.89% of New York Mortgage Trust worth $40,355,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in 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 valued at $54,000 after purchasing an additional 1,566 shares during the period. Tower Research Capital LLC TRC grew its holdings in 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 valued at $78,000 after purchasing an additional 2,014 shares during the period. New York State Teachers Retirement System grew its holdings in New York Mortgage Trust by 1.6% during 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 during the period. Barclays PLC grew its holdings in New York Mortgage Trust by 5.7% during 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 during the period. Finally, Caxton Associates LP acquired a new position in New York Mortgage Trust during the fourth quarter valued at approximately $69,000. Institutional investors and hedge funds own 54.89% of the company's stock.

New York Mortgage Trust Stock Up 2.3%

Shares of New York Mortgage Trust stock traded up $0.16 on Monday, hitting $7.22. The company had a trading volume of 433,672 shares, compared to its average volume of 569,426. The firm has a market capitalization of $652.04 million, a P/E ratio of 38.00 and a beta of 1.32. 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 debt-to-equity ratio of 10.13, a current ratio of 11.70 and a quick ratio of 11.70. The stock has a 50-day moving average of $6.80 and a 200-day moving average of $6.56.

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

New York Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 30th. Stockholders of record on Monday, June 23rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date of this dividend was Monday, June 23rd. New York Mortgage Trust's payout ratio is currently 421.05%.

Analysts Set New Price Targets

Separately, UBS Group boosted their price objective on shares of New York Mortgage Trust from $6.50 to $6.75 and gave the company a "neutral" rating in a report 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. According to MarketBeat, New York Mortgage Trust has an average rating of "Moderate Buy" and an average price target of $7.75.

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.