New York Mortgage Trust (NASDAQ:NYMT) Downgraded to Sell at StockNews.com

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

Separately, Janney Montgomery Scott assumed coverage on New York Mortgage Trust in a report on Tuesday, August 13th. They issued a neutral rating and a $7.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $7.75.

New York Mortgage Trust Price Performance

Shares of NYMT opened at $6.74 on Friday. 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 $9.67. The stock has a market cap of $614.88 million, a PE ratio of -3.64 and a beta of 1.94. The firm has a fifty day moving average price of $6.49 and a 200 day moving average price of $6.51.

Institutional Investors Weigh In On New York Mortgage Trust

Several hedge funds have recently made changes to their positions in NYMT. Charles Schwab Investment Management Inc. raised its stake in New York Mortgage Trust by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock valued at $13,032,000 after acquiring an additional 132,162 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of New York Mortgage Trust during the fourth quarter worth approximately $201,000. EMG Holdings L.P. lifted its holdings in shares of New York Mortgage Trust by 192.1% during the fourth quarter. EMG Holdings L.P. now owns 555,930 shares of the real estate investment trust’s stock worth $4,742,000 after purchasing an additional 365,622 shares during the period. Van ECK Associates Corp grew its position in New York Mortgage Trust by 1.3% in the 1st quarter. Van ECK Associates Corp now owns 578,929 shares of the real estate investment trust’s stock valued at $4,168,000 after buying an additional 7,316 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in New York Mortgage Trust by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 833,702 shares of the real estate investment trust’s stock valued at $6,003,000 after buying an additional 6,148 shares during the period. Institutional investors and hedge funds 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.