Analysts Set New York Mortgage Trust, Inc. (NASDAQ:NYMT) PT at $7.10

Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the four ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $7.38.

A number of equities research analysts recently weighed in on NYMT shares. StockNews.com upgraded New York Mortgage Trust from a "sell" rating to a "hold" rating in a research note on Thursday. Jones Trading reissued a "buy" rating and set a $7.50 price target on shares of New York Mortgage Trust in a research report on Friday. Finally, B. Riley lifted their price objective on shares of New York Mortgage Trust from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday.

New York Mortgage Trust Stock Up 4.7 %

New York Mortgage Trust stock traded up $0.30 during midday trading on Friday, hitting $6.65. 1,524,809 shares of the company's stock were exchanged, compared to its average volume of 692,216. New York Mortgage Trust has a 12 month low of $5.02 and a 12 month high of $7.11. The company has a debt-to-equity ratio of 8.33, a quick ratio of 8.25 and a current ratio of 11.17. The company has a market cap of $600.48 million, a PE ratio of -5.83 and a beta of 1.24. The firm has a 50-day moving average of $6.23 and a two-hundred day moving average of $6.08.

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.10. The company had revenue of $33.10 million for the quarter, compared to analyst estimates of $27.84 million. New York Mortgage Trust had a negative net margin of 15.46% and a negative return on equity of 1.39%. As a group, analysts expect that New York Mortgage Trust will post 0.51 earnings per share for the current fiscal year.

New York Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Monday, March 31st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 12.03%. The ex-dividend date of this dividend was Monday, March 31st. New York Mortgage Trust's dividend payout ratio is presently -1,333.33%.

Hedge Funds Weigh In On New York Mortgage Trust

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in 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 valued at $78,000 after purchasing an additional 2,014 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of 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 buying an additional 2,100 shares during the last quarter. Inceptionr LLC increased its position in shares of New York Mortgage Trust by 14.5% in the 4th quarter. Inceptionr LLC now owns 43,505 shares of the real estate investment trust's stock valued at $264,000 after acquiring an additional 5,513 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in New York Mortgage Trust in the 4th quarter worth $49,000. Finally, Barclays PLC lifted its position in New York Mortgage Trust by 5.7% during the 4th quarter. Barclays PLC now owns 159,482 shares of the real estate investment trust's stock worth $966,000 after acquiring an additional 8,536 shares during the period. Institutional investors and hedge funds own 54.89% of the company's stock.

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.