StockNews.com upgraded shares of New York Mortgage Trust (NASDAQ:NYMT – Free 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 %
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
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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