New York Mortgage Trust (NASDAQ:NYMT) Raised to Hold at StockNews.com

StockNews.com upgraded shares of New York Mortgage Trust (NASDAQ:NYMTFree Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Separately, Janney Montgomery Scott began coverage on New York Mortgage Trust in a research report on Tuesday, August 13th. They issued a neutral rating and a $7.00 price target for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $7.75.

Check Out Our Latest Research Report on NYMT

New York Mortgage Trust Trading Down 3.3 %

Shares of NYMT stock opened at $6.12 on Friday. The stock has a 50-day simple moving average of $6.46 and a 200 day simple moving average of $6.46. New York Mortgage Trust has a fifty-two week low of $5.51 and a fifty-two week high of $9.67. The stock has a market capitalization of $558.32 million, a P/E ratio of -3.31 and a beta of 1.94. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 6.30.

New York Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, September 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.07%. New York Mortgage Trust’s dividend payout ratio (DPR) is -43.24%.

Institutional Investors Weigh In On New York Mortgage Trust

A number of institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its position in New York Mortgage Trust by 2.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 69,223 shares of the real estate investment trust’s stock worth $418,000 after acquiring an additional 1,634 shares during the period. The Manufacturers Life Insurance Company boosted its position in New York Mortgage Trust by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,132 shares of the real estate investment trust’s stock worth $211,000 after acquiring an additional 1,901 shares during the period. Price T Rowe Associates Inc. MD boosted its position in New York Mortgage Trust by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,717 shares of the real estate investment trust’s stock worth $531,000 after acquiring an additional 3,723 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of New York Mortgage Trust by 0.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 833,702 shares of the real estate investment trust’s stock worth $6,003,000 after purchasing an additional 6,148 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of New York Mortgage Trust by 1.3% during the 1st quarter. Van ECK Associates Corp now owns 578,929 shares of the real estate investment trust’s stock worth $4,168,000 after purchasing an additional 7,316 shares in the last quarter. 54.89% of the stock is currently owned by institutional investors and hedge funds.

New York Mortgage Trust Company Profile

(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.

See Also

Receive News & Ratings for New York Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.