Wall Street brokerages expect New York Mortgage Trust, Inc. (NASDAQ:NYMT) to report $33.19 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for New York Mortgage Trust's earnings. The highest sales estimate is $35.27 million and the lowest is $31.10 million. New York Mortgage Trust reported sales of $28.53 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.3%. The business is scheduled to announce its next earnings report on Wednesday, August 4th.
On average, analysts expect that New York Mortgage Trust will report full-year sales of $140.10 million for the current year, with estimates ranging from $134.20 million to $145.99 million. For the next fiscal year, analysts anticipate that the firm will post sales of $202.36 million, with estimates ranging from $188.00 million to $216.71 million. Zacks Investment Research's sales calculations are a mean average based on a survey of research analysts that follow New York Mortgage Trust.
New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings data on Thursday, May 6th. The real estate investment trust reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. New York Mortgage Trust had a net margin of 97.46% and a return on equity of 9.41%.
NYMT has been the topic of a number of research analyst reports. BTIG Research reaffirmed a "hold" rating on shares of New York Mortgage Trust in a report on Wednesday, June 2nd. TheStreet raised New York Mortgage Trust from a "c-" rating to a "b-" rating in a report on Monday, May 10th. B. Riley initiated coverage on New York Mortgage Trust in a report on Wednesday, May 12th. They set a "buy" rating and a $6.00 target price on the stock. Zacks Investment Research lowered New York Mortgage Trust from a "buy" rating to a "hold" rating in a report on Wednesday, July 21st. Finally, Bank of America reissued an "underperform" rating and issued a $4.50 price target on shares of New York Mortgage Trust in a research note on Monday, May 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and an average target price of $4.45.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Veriti Management LLC grew its stake in New York Mortgage Trust by 12.8% during the 1st quarter. Veriti Management LLC now owns 20,921 shares of the real estate investment trust's stock valued at $94,000 after acquiring an additional 2,373 shares in the last quarter. Engineers Gate Manager LP grew its stake in New York Mortgage Trust by 29.1% during the 4th quarter. Engineers Gate Manager LP now owns 13,300 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 3,000 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in New York Mortgage Trust by 2.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 155,471 shares of the real estate investment trust's stock valued at $695,000 after acquiring an additional 3,000 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in New York Mortgage Trust by 19.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 18,810 shares of the real estate investment trust's stock valued at $84,000 after acquiring an additional 3,020 shares in the last quarter. Finally, Advisor Partners LLC grew its stake in New York Mortgage Trust by 20.1% during the 1st quarter. Advisor Partners LLC now owns 20,434 shares of the real estate investment trust's stock valued at $91,000 after acquiring an additional 3,418 shares in the last quarter. 53.08% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:NYMT opened at $4.33 on Monday. The business's 50-day moving average price is $4.52. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 5.41 and a beta of 1.95. New York Mortgage Trust has a 52-week low of $2.40 and a 52-week high of $4.93.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 26th. Investors of record on Thursday, June 24th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, June 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 9.24%. New York Mortgage Trust's dividend payout ratio is currently -28.78%.
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, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.
Recommended Story: What does a market perform rating mean?
Get a free copy of the Zacks research report on New York Mortgage Trust (NYMT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider New York Mortgage Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New York Mortgage Trust wasn't on the list.
While New York Mortgage Trust currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here