Wolverine Asset Management LLC Has $2.98 Million Stock Position in New York Mortgage Trust, Inc. (NASDAQ:NYMT)

Key Points

• Wolverine Asset Management LLC reduced its stake in New York Mortgage Trust by 27.3% in the first quarter, now holding approximately 459,028 shares valued at about $2.98 million.
• Brokerages have mixed sentiment towards New York Mortgage Trust, with price targets ranging from $6.75 to $9.00, while three analysts rated it as a "hold" and two as a "buy."
• The company recently declared a quarterly dividend of $0.20 per share, representing an annualized yield of 12.0%, although its payout ratio is notably high at 421.05%.

Wolverine Asset Management LLC lowered its position in shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 459,028 shares of the real estate investment trust's stock after selling 172,274 shares during the quarter. Wolverine Asset Management LLC owned 0.51% of New York Mortgage Trust worth $2,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Invesco Ltd. grew its position in shares of New York Mortgage Trust by 20.3% during the 4th quarter. Invesco Ltd. now owns 3,207,439 shares of the real estate investment trust's stock valued at $19,437,000 after purchasing an additional 542,002 shares in the last quarter. Jane Street Group LLC raised its stake in shares of New York Mortgage Trust by 191.6% during the fourth quarter. Jane Street Group LLC now owns 479,428 shares of the real estate investment trust's stock valued at $2,905,000 after acquiring an additional 315,040 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of New York Mortgage Trust by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 6,422,036 shares of the real estate investment trust's stock valued at $38,918,000 after acquiring an additional 264,334 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of New York Mortgage Trust by 2,225.9% during the fourth quarter. Two Sigma Investments LP now owns 251,406 shares of the real estate investment trust's stock valued at $1,524,000 after acquiring an additional 240,597 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of New York Mortgage Trust by 15.5% during the fourth quarter. Northern Trust Corp now owns 1,148,179 shares of the real estate investment trust's stock valued at $6,958,000 after acquiring an additional 154,181 shares during the last quarter. Institutional investors own 54.89% of the company's stock.

New York Mortgage Trust Stock Performance

NASDAQ NYMT traded up $0.10 during trading hours on Wednesday, hitting $6.89. The company had a trading volume of 272,148 shares, compared to its average volume of 718,796. New York Mortgage Trust, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $7.27. The company has a quick ratio of 11.70, a current ratio of 11.70 and a debt-to-equity ratio of 10.13. The business has a fifty day simple moving average of $6.72 and a 200-day simple moving average of $6.46. The firm has a market cap of $621.78 million, a P/E ratio of 36.24 and a beta of 1.28.

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last issued its 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. New York Mortgage Trust had a return on equity of 7.59% and a net margin of 12.50%. The firm had revenue of $17.81 million for the quarter, compared to analyst estimates of $38.67 million. Equities analysts predict that New York Mortgage Trust, Inc. will post 0.51 EPS for the current year.

New York Mortgage Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 30th. Shareholders of record on Monday, June 23rd were given 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 11.6%. New York Mortgage Trust's dividend payout ratio (DPR) is currently 421.05%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NYMT. Jones Trading restated a "buy" rating and issued a $7.50 target price on shares of New York Mortgage Trust in a report on Friday, May 2nd. Wall Street Zen upgraded shares of New York Mortgage Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. B. Riley upped their price target on shares of New York Mortgage Trust from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, UBS Group raised 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 research note on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $7.56.

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.