Jones Trading reissued their buy rating on shares of New York Mortgage Trust (NASDAQ:NYMT - Free Report) in a research note published on Friday morning,Benzinga reports. Jones Trading currently has a $7.50 price objective on the real estate investment trust's stock.
Several other analysts also recently issued reports on the stock. StockNews.com raised shares of New York Mortgage Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. B. Riley dropped their price objective on New York Mortgage Trust from $11.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $7.38.
Read Our Latest Report on NYMT
New York Mortgage Trust Price Performance
NYMT traded up $0.16 during trading on Friday, hitting $6.60. 371,236 shares of the company traded hands, compared to its average volume of 689,601. The company has a current ratio of 11.17, a quick ratio of 8.25 and a debt-to-equity ratio of 8.33. The company has a market cap of $595.52 million, a PE ratio of -5.79 and a beta of 1.24. New York Mortgage Trust has a 1 year low of $5.02 and a 1 year high of $7.11. The stock's 50-day simple moving average is $6.21 and its two-hundred day simple moving average is $6.09.
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 for the quarter, topping the consensus estimate of $0.10 by $0.10. The company had revenue of $33.10 million for the quarter, compared to analysts' expectations of $27.84 million. New York Mortgage Trust had a negative return on equity of 1.39% and a negative net margin of 15.46%. As a group, sell-side analysts anticipate that New York Mortgage Trust will post 0.51 earnings per share for the current fiscal year.
New York Mortgage Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Monday, March 31st were paid a $0.20 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 12.13%. New York Mortgage Trust's dividend payout ratio (DPR) is currently -1,333.33%.
Institutional Investors Weigh In On New York Mortgage Trust
Institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in shares of New York Mortgage Trust by 20.3% in the fourth quarter. Invesco Ltd. now owns 3,207,439 shares of the real estate investment trust's stock valued at $19,437,000 after acquiring an additional 542,002 shares in the last quarter. Jane Street Group LLC increased its holdings in 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 buying an additional 315,040 shares during the period. Vanguard Group Inc. raised its stake in New York Mortgage Trust by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 6,422,036 shares of the real estate investment trust's stock worth $38,918,000 after buying an additional 264,334 shares in the last quarter. Two Sigma Investments LP lifted its holdings in 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 worth $1,524,000 after buying an additional 240,597 shares during the period. Finally, Northern Trust Corp boosted its position in New York Mortgage Trust by 15.5% during the 4th 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 in the last quarter. 54.89% of the stock is owned by institutional investors.
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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