New York Mortgage Trust (NASDAQ:NYMT) Upgraded to “Hold” at StockNews.com

New York Mortgage Trust (NASDAQ:NYMT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Separately, B. Riley reduced their price objective 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

New York Mortgage Trust Trading Down 2.1 %

Shares of NASDAQ:NYMT opened at $6.86 on Friday. The stock’s 50-day simple moving average is $6.13 and its two-hundred day simple moving average is $6.12. The stock has a market capitalization of $621.29 million, a price-to-earnings ratio of -6.02 and a beta of 1.92. New York Mortgage Trust has a 52-week low of $5.14 and a 52-week high of $7.40. The company has a debt-to-equity ratio of 8.33, a quick ratio of 8.25 and a current ratio of 11.17.

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

Institutional Trading of New York Mortgage Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of New York Mortgage Trust by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 6,422,036 shares of the real estate investment trust’s stock valued at $38,918,000 after buying an additional 264,334 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in New York Mortgage Trust by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,633,729 shares of the real estate investment trust’s stock valued at $22,311,000 after acquiring an additional 12,237 shares during the period. State Street Corp lifted its position in shares of New York Mortgage Trust by 1.6% in the third quarter. State Street Corp now owns 3,495,306 shares of the real estate investment trust’s stock valued at $22,820,000 after acquiring an additional 54,597 shares in the last quarter. Invesco Ltd. boosted its stake in shares of New York Mortgage Trust by 20.3% in the fourth quarter. Invesco Ltd. now owns 3,207,439 shares of the real estate investment trust’s stock worth $19,437,000 after acquiring an additional 542,002 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of New York Mortgage Trust by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,261,614 shares of the real estate investment trust’s stock worth $14,320,000 after purchasing an additional 10,017 shares in the last quarter. 54.89% of the stock is owned by hedge funds and other institutional investors.

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.