New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating) has earned a consensus rating of “Hold” from the nine research firms that currently cover the stock, MarketBeat.com reports. Two research analysts rated the stock with a sell rating, two issued a hold rating and four assigned the company a buy rating. The average 1-year target price among brokers who updated their coverage on the stock in the past year is $4.75.
A number of analysts have recently released NYMT stock reports. Jonestrading cut its price target on New York Mortgage Trust shares from $5.00 to $4.50 and set a “buy” rating for the company in a Tuesday, February 22 research note. Keefe, Bruyette & Woods upgraded New York Mortgage Trust shares from a “market performance” rating to an “outperform” rating and set a price target of $4.50 for the company in a memo. research on Wednesday, February 23. Bank of America cut its price target on New York Mortgage Trust shares from $4.50 to $3.75 and set an “underperform” rating for the company in a Wednesday, March 9 research note . The Maxim Group reaffirmed a “buy” rating and set a target price of $5.00 on New York Mortgage Trust shares in a Friday, February 18 research note. Finally, Zacks Investment Research downgraded shares of New York Mortgage Trust from a “hold” to a “sell” rating in a Thursday, Feb. 24, research note.
Several institutional investors have recently increased or reduced their stake in the company. JustInvest LLC increased its holdings in New York Mortgage Trust by 22.2% during the 4th quarter. JustInvest LLC now owns 16,141 shares of the real estate investment trust worth $60,000 after buying 2,933 additional shares in the last quarter. Maryland State Retirement & Pension System increased its stake in New York Mortgage Trust by 2.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 153,417 shares of the real estate investment trust valued at $560,000 after buying 2,968 additional shares last quarter. Catalyst Capital Advisors LLC increased its stake in New York Mortgage Trust by 29.4% during the third quarter. Catalyst Capital Advisors LLC now owns 13,640 shares of the real estate investment trust worth $58,000 after buying 3,100 additional shares in the last quarter. Alliancebernstein LP increased its stake in New York Mortgage Trust by 0.6% during the fourth quarter. Alliancebernstein LP now owns 533,855 shares of the real estate investment trust valued at $1,986,000 after buying 3,314 additional shares last quarter. Finally, Triton Wealth Management PLLC increased its stake in New York Mortgage Trust by 5.0% during the 4th quarter. Triton Wealth Management PLLC now owns 72,536 shares of the real estate investment trust valued at $267,000 after buying an additional 3,435 shares last quarter. Hedge funds and other institutional investors own 56.53% of the company’s shares.
Shares on the NASDAQ NYMT were flat at $3.50 during midday trading on Monday. 1,823,370 shares were traded, against an average volume of 3,921,708. The company’s 50-day simple moving average is $3.59 and its 200-day simple moving average is $3.85. The company has a debt ratio of 1.29, a current ratio of 5.62 and a quick ratio of 5.62. The company has a market capitalization of $1.33 billion, a P/E ratio of 9.21 and a beta of 1.81. New York Mortgage Trust has a 1-year minimum of $3.24 and a 1-year maximum of $4.93.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 25. Shareholders of record on Thursday, March 24 will receive a dividend of $0.10 per share. The ex-dividend date is Wednesday, March 23. This represents an annualized dividend of $0.40 and a yield of 11.43%. New York Mortgage Trust’s dividend payout ratio (DPR) is currently 105.27%.
About New York Mortgage Trust (Get a rating)
New York Mortgage Trust, Inc. acquires, invests, finances and manages single-family and multi-family residential mortgage-related assets in the United States. Its focused investments include residential loans, second mortgages and business loans; structured multifamily real estate investments, such as preferred stock and mezzanine loans to owners of multifamily properties, as well as joint venture equity investments in multifamily properties; residential non-agency mortgage-backed securities (RMBS); Agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgages, residential housing and credit-related assets.
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