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

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

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

New York Mortgage Trust Stock Up 2.0 %

NASDAQ NYMT opened at $6.61 on Thursday. The business’s 50-day moving average is $6.44 and its 200 day moving average is $6.51. The stock has a market capitalization of $598.73 million, a PE ratio of -3.57 and a beta of 1.94. The company has a debt-to-equity ratio of 6.30, a current ratio of 6.46 and a quick ratio of 6.46. New York Mortgage Trust has a 1 year low of $5.51 and a 1 year high of $9.68.

New York Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Friday, June 28th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.80 annualized dividend and a yield of 12.10%. New York Mortgage Trust’s payout ratio is -43.24%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Waterfall Asset Management LLC purchased a new stake in New York Mortgage Trust in the second quarter worth $1,727,000. The Manufacturers Life Insurance Company boosted its holdings in shares of 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 valued at $211,000 after buying an additional 1,901 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of New York Mortgage Trust in the 2nd quarter worth about $83,000. Squarepoint Ops LLC bought a new position in shares of New York Mortgage Trust in the 2nd quarter worth about $136,000. Finally, Evergreen Capital Management LLC purchased a new position in New York Mortgage Trust during the 2nd quarter valued at about $83,000. Institutional investors own 54.89% of the company’s stock.

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.