New York Mortgage Trust (NASDAQ:NYMT) Rating Lowered to “Sell” at StockNews.com

New York Mortgage Trust (NASDAQ:NYMT) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, B. Riley dropped their price target on New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.00.

New York Mortgage Trust Stock Up 0.5 %

NASDAQ NYMT opened at $6.46 on Friday. New York Mortgage Trust has a 12 month low of $5.14 and a 12 month high of $7.49. The company has a current ratio of 11.17, a quick ratio of 8.25 and a debt-to-equity ratio of 8.33. The stock has a market cap of $585.14 million, a PE ratio of -5.67 and a beta of 1.92. The stock’s 50 day moving average is $6.03 and its 200 day moving average is $6.09.

New York Mortgage Trust (NASDAQ:NYMT) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.47). The company had revenue of $26.71 million during the quarter, compared to analysts’ expectations of $20.06 million. New York Mortgage Trust had a negative return on equity of 1.39% and a negative net margin of 15.46%. Research analysts predict that New York Mortgage Trust will post 0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On New York Mortgage Trust

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in New York Mortgage Trust by 18.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,945 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 2,014 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of New York Mortgage Trust by 22.7% during the third quarter. First Trust Direct Indexing L.P. now owns 23,631 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 4,376 shares during the last quarter. Inceptionr LLC raised its holdings in shares of New York Mortgage Trust by 14.5% in the fourth quarter. Inceptionr LLC now owns 43,505 shares of the real estate investment trust’s stock worth $264,000 after buying an additional 5,513 shares during the period. Entropy Technologies LP lifted its stake in shares of New York Mortgage Trust by 53.9% during the 3rd quarter. Entropy Technologies LP now owns 19,127 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 6,700 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in New York Mortgage Trust during the 4th quarter valued at $49,000. 54.89% of the stock is owned by hedge funds and other institutional investors.

About New York Mortgage Trust

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.