New York Mortgage Trust (NASDAQ:NYMT) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of New York Mortgage Trust (NASDAQ:NYMT) from a hold rating to a sell rating in a research note released on Friday morning.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods dropped their target price on New York Mortgage Trust from $8.50 to $7.00 and set a market perform rating on the stock in a research report on Friday. B. Riley reaffirmed a buy rating and set a $11.00 price objective (down previously from $15.00) on shares of New York Mortgage Trust in a research report on Monday, March 25th.

New York Mortgage Trust Stock Down 0.9 %

NASDAQ:NYMT opened at $6.21 on Friday. The company has a debt-to-equity ratio of 5.03, a current ratio of 4.02 and a quick ratio of 4.29. New York Mortgage Trust has a 1-year low of $5.78 and a 1-year high of $10.63. The company has a 50-day moving average of $7.06 and a 200 day moving average of $7.82. The firm has a market cap of $566.54 million, a PE ratio of -3.36 and a beta of 1.91.

New York Mortgage Trust (NASDAQ:NYMT) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.42). New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. The business had revenue of $83.89 million during the quarter, compared to analysts’ expectations of $19.64 million. During the same period in the previous year, the company posted $0.11 EPS. As a group, research analysts anticipate that New York Mortgage Trust will post 0.55 EPS for the current fiscal year.

New York Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 25th were paid a $0.20 dividend. The ex-dividend date was Friday, March 22nd. This represents a $0.80 annualized dividend and a yield of 12.88%. New York Mortgage Trust’s dividend payout ratio (DPR) is -43.24%.

Hedge Funds Weigh In On New York Mortgage Trust

A number of large investors have recently made changes to their positions in NYMT. SG Americas Securities LLC acquired a new stake in shares of New York Mortgage Trust in the 3rd quarter worth $185,000. New York State Teachers Retirement System raised its stake in New York Mortgage Trust by 2.4% in the third quarter. New York State Teachers Retirement System now owns 134,612 shares of the real estate investment trust’s stock valued at $1,143,000 after buying an additional 3,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in New York Mortgage Trust by 35.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,539 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 6,425 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of New York Mortgage Trust by 0.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 899,889 shares of the real estate investment trust’s stock worth $7,640,000 after acquiring an additional 6,705 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of New York Mortgage Trust by 13.9% during the third quarter. Nisa Investment Advisors LLC now owns 95,809 shares of the real estate investment trust’s stock worth $813,000 after acquiring an additional 11,721 shares during the last quarter. 54.89% of the stock is 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.