New York Mortgage Trust (NASDAQ:NYMT) Upgraded by StockNews.com to Hold

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

Separately, Janney Montgomery Scott assumed coverage on shares of New York Mortgage Trust in a report on Tuesday, August 13th. They set a “neutral” rating and a $7.00 target price for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.75.

New York Mortgage Trust Trading Down 0.6 %

NYMT opened at $6.53 on Friday. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 6.30. The stock has a market capitalization of $595.72 million, a PE ratio of -3.53 and a beta of 1.94. The firm has a 50-day moving average price of $6.49 and a two-hundred day moving average price of $6.49. New York Mortgage Trust has a 1-year low of $5.51 and a 1-year high of $9.67.

Hedge Funds Weigh In On New York Mortgage Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC bought a new stake in shares of New York Mortgage Trust in the second quarter worth $83,000. AQR Capital Management LLC bought a new stake in New York Mortgage Trust during the second quarter worth about $83,000. Intech Investment Management LLC acquired a new position in New York Mortgage Trust during the second quarter valued at approximately $122,000. Squarepoint Ops LLC acquired a new position in shares of New York Mortgage Trust during the 2nd quarter worth approximately $136,000. Finally, SG Americas Securities LLC bought a new stake in shares of New York Mortgage Trust during the 2nd quarter worth approximately $154,000. 54.89% of the stock is owned by institutional investors and hedge funds.

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.