New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) had its price target lifted by research analysts at UBS Group from $6.50 to $6.75 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price target would indicate a potential upside of 1.50% from the stock's previous close.
Other equities analysts have also recently issued reports about the stock. Jones Trading reissued a "buy" rating and issued a $7.50 price objective on shares of New York Mortgage Trust in a research report on Friday, May 2nd. Wall Street Zen raised shares of New York Mortgage Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, B. Riley increased their price target 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, May 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $7.56.
Check Out Our Latest Analysis on NYMT
New York Mortgage Trust Trading Down 1.0%
NYMT traded down $0.07 during trading on Thursday, hitting $6.65. The company's stock had a trading volume of 451,042 shares, compared to its average volume of 695,094. The firm's 50 day moving average price is $6.70 and its 200-day moving average price is $6.34. The company has a debt-to-equity ratio of 9.15, a current ratio of 11.43 and a quick ratio of 11.43. The stock has a market cap of $600.50 million, a PE ratio of -110.83 and a beta of 1.27. New York Mortgage Trust has a twelve month low of $5.02 and a twelve month high of $7.27.
New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. The company had revenue of $33.10 million during the quarter, compared to the consensus estimate of $27.84 million. New York Mortgage Trust had a return on equity of 2.51% and a net margin of 8.50%. On average, analysts expect that New York Mortgage Trust will post 0.51 earnings per share for the current year.
Institutional Investors Weigh In On New York Mortgage Trust
Several institutional investors and hedge funds have recently bought and sold shares of NYMT. PNC Financial Services Group Inc. increased its stake in shares of 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 purchasing an additional 1,566 shares during the period. Caxton Associates LP acquired a new stake in shares of New York Mortgage Trust in the fourth quarter valued at approximately $69,000. Jump Financial LLC acquired a new stake in shares of New York Mortgage Trust in the first quarter valued at approximately $74,000. Tower Research Capital LLC TRC increased its stake in shares of New York Mortgage Trust by 18.4% in the fourth 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 during the period. Finally, Guggenheim Capital LLC acquired a new stake in shares of New York Mortgage Trust in the fourth quarter valued at approximately $80,000. Institutional investors and hedge funds own 54.89% of the company's stock.
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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