New York Mortgage Trust (NASDAQ:NYMT - Free Report) had its target price trimmed by UBS Group from $7.50 to $6.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the real estate investment trust's stock.
Several other brokerages have also weighed in on NYMT. StockNews.com lowered New York Mortgage Trust from a hold rating to a sell rating in a research report on Friday, May 3rd. B. Riley restated a buy rating and issued a $11.00 price objective (down from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th. Finally, Keefe, Bruyette & Woods decreased their target price on New York Mortgage Trust from $8.50 to $7.00 and set a market perform rating for the company in a report on Friday, May 3rd.
Get Our Latest Stock Analysis on New York Mortgage Trust
New York Mortgage Trust Trading Down 2.1 %
NYMT traded down $0.13 during midday trading on Wednesday, hitting $6.02. The company's stock had a trading volume of 817,679 shares, compared to its average volume of 624,503. New York Mortgage Trust has a 52-week low of $5.78 and a 52-week high of $10.63. The firm has a 50-day moving average price of $7.02 and a two-hundred day moving average price of $7.79. The company has a current ratio of 4.02, a quick ratio of 4.29 and a debt-to-equity ratio of 5.03. The firm has a market cap of $549.19 million, a P/E ratio of -3.25 and a beta of 1.91.
New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.42). The company had revenue of $83.89 million during the quarter, compared to analysts' expectations of $19.64 million. New York Mortgage Trust had a negative net margin of 44.65% and a negative return on equity of 2.60%. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, research analysts anticipate that New York Mortgage Trust will post 0.55 earnings per share for the current year.
New York Mortgage Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, March 25th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 13.29%. The ex-dividend date of this dividend was Friday, March 22nd. New York Mortgage Trust's payout ratio is -43.24%.
Hedge Funds Weigh In On New York Mortgage Trust
Several hedge funds and other institutional investors have recently bought and sold shares of NYMT. EMG Holdings L.P. raised its stake in shares of New York Mortgage Trust by 192.1% during the fourth quarter. EMG Holdings L.P. now owns 555,930 shares of the real estate investment trust's stock valued at $4,742,000 after purchasing an additional 365,622 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in New York Mortgage Trust by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust's stock worth $13,032,000 after buying an additional 132,162 shares in the last quarter. Wolverine Asset Management LLC grew its stake in shares of New York Mortgage Trust by 7.0% during the third quarter. Wolverine Asset Management LLC now owns 975,993 shares of the real estate investment trust's stock valued at $8,286,000 after acquiring an additional 63,504 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of New York Mortgage Trust during the third quarter worth about $466,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of New York Mortgage Trust during the fourth quarter worth about $387,000. 54.89% of the stock is owned by institutional investors and hedge funds.
New York Mortgage Trust Company Profile
(
Get Free Report)
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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