New York Mortgage Trust (NASDAQ:NYMT) Downgraded by StockNews.com to “Sell”

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

Separately, Janney Montgomery Scott began coverage on shares of New York Mortgage Trust in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 price objective 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.75.

New York Mortgage Trust Stock Down 0.3 %

NYMT opened at $5.94 on Tuesday. The firm has a market cap of $538.05 million, a P/E ratio of -18.00 and a beta of 1.94. The business’s fifty day simple moving average is $5.95 and its 200 day simple moving average is $6.13. New York Mortgage Trust has a 52 week low of $5.14 and a 52 week high of $9.67. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 7.24.

New York Mortgage Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Monday, September 30th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 13.47%. The ex-dividend date was Monday, September 30th. New York Mortgage Trust’s dividend payout ratio (DPR) is -242.42%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NYMT. McIlrath & Eck LLC acquired a new position in New York Mortgage Trust during the third quarter worth approximately $62,000. Sequoia Financial Advisors LLC acquired a new stake in shares of New York Mortgage Trust during the 3rd quarter worth $76,000. Calton & Associates Inc. purchased a new position in shares of New York Mortgage Trust in the 3rd quarter worth $82,000. Evergreen Capital Management LLC acquired a new position in New York Mortgage Trust in the second quarter valued at $83,000. Finally, AQR Capital Management LLC purchased a new stake in New York Mortgage Trust during the second quarter valued at about $83,000. 54.89% of the stock is currently 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.