UBS Group Increases New York Mortgage Trust (NASDAQ:NYMT) Price Target to $6.75

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) had its price objective lifted by analysts at UBS Group from $6.50 to $6.75 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price objective suggests a potential upside of 1.73% from the stock's current price.

NYMT has been the topic of several other research reports. B. Riley lifted their price target on New York Mortgage Trust from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen upgraded New York Mortgage Trust from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Finally, Jones Trading reiterated a "buy" rating and set a $7.50 price target on shares of New York Mortgage Trust in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $7.56.

New York Mortgage Trust Price Performance

NYMT stock traded down $0.09 during midday trading on Thursday, reaching $6.64. The stock had a trading volume of 133,409 shares, compared to its average volume of 693,068. The company's fifty day simple moving average is $6.70 and its 200 day simple moving average is $6.33. The company has a current ratio of 11.43, a quick ratio of 11.43 and a debt-to-equity ratio of 9.15. The company has a market cap of $599.14 million, a price-to-earnings ratio of -110.58 and a beta of 1.27. New York Mortgage Trust has a 52-week low of $5.02 and a 52-week high of $7.27.

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 2.51% and a net margin of 8.50%. As a group, sell-side analysts predict that New York Mortgage Trust will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of New York Mortgage Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC increased its position in shares of New York Mortgage Trust by 191.6% during the 4th quarter. Jane Street Group LLC now owns 479,428 shares of the real estate investment trust's stock worth $2,905,000 after purchasing an additional 315,040 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in New York Mortgage Trust in the 4th quarter valued at about $116,000. Price T Rowe Associates Inc. MD grew its position in New York Mortgage Trust by 20.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 93,049 shares of the real estate investment trust's stock valued at $564,000 after acquiring an additional 15,840 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in New York Mortgage Trust by 3.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,772,564 shares of the real estate investment trust's stock valued at $24,484,000 after acquiring an additional 138,835 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in New York Mortgage Trust in the 4th quarter valued at about $126,000. 54.89% of the stock is owned by institutional investors and hedge funds.

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.