New York Mortgage Trust (NASDAQ:NYMT - Get Free Report)'s stock had its "buy" rating restated by analysts at Jones Trading in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $7.50 price objective on the real estate investment trust's stock. Jones Trading's target price points to a potential upside of 18.11% from the stock's previous close.
A number of other equities analysts also recently weighed in on NYMT. StockNews.com upgraded New York Mortgage Trust from a "sell" rating to a "hold" rating in a research note on Thursday. B. Riley cut their price objective on New York Mortgage Trust from $11.00 to $8.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7.10.
Read Our Latest Analysis on New York Mortgage Trust
New York Mortgage Trust Trading Up 8.2 %
Shares of NASDAQ NYMT opened at $6.35 on Friday. The stock has a market cap of $575.10 million, a P/E ratio of -5.57 and a beta of 1.43. The firm has a 50 day moving average price of $6.24 and a two-hundred day moving average price of $6.06. The company has a debt-to-equity ratio of 8.33, a quick ratio of 8.25 and a current ratio of 11.17. New York Mortgage Trust has a 52-week low of $5.02 and a 52-week high of $7.11.
New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.10. New York Mortgage Trust had a negative return on equity of 1.39% and a negative net margin of 15.46%. The business had revenue of $33.10 million for the quarter, compared to analyst estimates of $27.84 million. As a group, equities analysts forecast that New York Mortgage Trust will post 0.51 EPS for the current year.
Institutional Trading of New York Mortgage Trust
A number of hedge funds and other institutional investors have recently made changes to their positions in NYMT. Vanguard Group Inc. increased its position 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 buying an additional 264,334 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in New York Mortgage Trust by 3.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,772,564 shares of the real estate investment trust's stock worth $24,484,000 after acquiring an additional 138,835 shares during the period. Invesco Ltd. increased its holdings in 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 worth $19,437,000 after acquiring an additional 542,002 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in New York Mortgage Trust by 10.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,409,909 shares of the real estate investment trust's stock worth $8,544,000 after purchasing an additional 130,499 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in New York Mortgage Trust by 15.5% in 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 purchasing an additional 154,181 shares during the period. 54.89% of the stock is currently owned by institutional investors.
About New York Mortgage Trust
(
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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