New York Mortgage Trust (NASDAQ:NYMT) Price Target Raised to $7.25

Key Points

• UBS Group has raised the target price for New York Mortgage Trust (NASDAQ:NYMT) from $6.75 to $7.25, indicating a potential upside of 2.18%.
• Shares of New York Mortgage Trust are currently trading at $7.10, down 1.7% during recent trading, with a 52-week range between $5.01 and $7.27.
• JPMorgan Chase & Co. increased its stake in New York Mortgage Trust by 370.5% in the second quarter, highlighting significant institutional interest in the stock.

New York Mortgage Trust (NASDAQ:NYMT - Free Report) had its price target boosted by UBS Group from $6.75 to $7.25 in a report published on Wednesday, Marketbeat reports. They currently have a neutral rating on the real estate investment trust's stock.

New York Mortgage Trust Price Performance

The company has a debt-to-equity ratio of 10.13, a current ratio of 11.70 and a quick ratio of 11.70. New York Mortgage Trust has a twelve month low of $5.01 and a twelve month high of $7.27. The firm's fifty day moving average is $6.84 and its two-hundred day moving average is $6.58. The company has a market capitalization of $640.75 million, a P/E ratio of 37.34 and a beta of 1.32.

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. New York Mortgage Trust had a return on equity of 7.59% and a net margin of 12.50%.The firm had revenue of $17.81 million during the quarter, compared to analyst estimates of $38.67 million. On average, 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 30th. Stockholders of record on Monday, June 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 11.3%. The ex-dividend date was Monday, June 23rd. New York Mortgage Trust's payout ratio is currently 421.05%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in New York Mortgage Trust by 538.9% in the second quarter. Allworth Financial LP now owns 5,431 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 4,581 shares during the last quarter. Raymond James Financial Inc. purchased a new position in New York Mortgage Trust in the second quarter valued at $51,000. PNC Financial Services Group Inc. increased its holdings in New York Mortgage Trust by 23.1% in the first quarter. PNC Financial Services Group Inc. now owns 8,334 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 1,566 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of New York Mortgage Trust by 197.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,036 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 5,330 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of New York Mortgage Trust during the second quarter worth about $68,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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, 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.