New York Mortgage Trust, Inc. (NASDAQ:NYMT) Earns “Buy” Rating from Maxim Group

Maxim Group reaffirmed their buy rating on shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) in a research report report published on Monday, November 6th. They currently have a $6.50 price target on the real estate investment trust’s stock.

“NYMT reported 3Q17 comprehensive income of $0.23, versus its dividend of $0.20 per share, so book value was up 0.5%, to $6.05.”,” Maxim Group’s analyst commented.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods set a $6.00 target price on shares of New York Mortgage Trust and gave the company a hold rating in a research note on Monday, August 14th. TheStreet upgraded shares of New York Mortgage Trust from a d+ rating to a c rating in a research note on Thursday, November 2nd. Barclays PLC upped their target price on shares of New York Mortgage Trust from $5.00 to $6.00 and gave the stock an equal weight rating in a report on Tuesday, October 10th. BidaskClub lowered shares of New York Mortgage Trust from a buy rating to a hold rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research cut shares of New York Mortgage Trust from a hold rating to a sell rating in a research note on Wednesday, October 11th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $6.35.

Shares of New York Mortgage Trust (NASDAQ NYMT) opened at $6.28 on Monday. New York Mortgage Trust has a 52-week low of $5.90 and a 52-week high of $7.04. The company has a market cap of $699.09, a PE ratio of 11.57 and a beta of 1.36. The company has a current ratio of 71.04, a quick ratio of 71.04 and a debt-to-equity ratio of 13.26.

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The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 25th were paid a $0.20 dividend. The ex-dividend date was Friday, September 22nd. This represents a $0.80 annualized dividend and a dividend yield of 12.74%. New York Mortgage Trust’s payout ratio is 148.15%.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of New York Mortgage Trust by 3.7% in the second quarter. Vanguard Group Inc. now owns 4,684,792 shares of the real estate investment trust’s stock worth $29,139,000 after buying an additional 169,079 shares during the last quarter. Global X MANAGEMENT CO LLC boosted its holdings in shares of New York Mortgage Trust by 4.0% in the third quarter. Global X MANAGEMENT CO LLC now owns 2,780,156 shares of the real estate investment trust’s stock worth $17,098,000 after buying an additional 105,844 shares during the last quarter. Global X Management Co. LLC boosted its holdings in shares of New York Mortgage Trust by 7.1% in the second quarter. Global X Management Co. LLC now owns 2,674,312 shares of the real estate investment trust’s stock worth $16,634,000 after buying an additional 176,188 shares during the last quarter. State Street Corp lifted its holdings in New York Mortgage Trust by 5.8% during the second quarter. State Street Corp now owns 2,325,571 shares of the real estate investment trust’s stock valued at $14,468,000 after purchasing an additional 126,981 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in New York Mortgage Trust by 4.7% during the second quarter. Northern Trust Corp now owns 2,114,941 shares of the real estate investment trust’s stock valued at $13,155,000 after purchasing an additional 95,079 shares in the last quarter. Hedge funds and other institutional investors own 36.21% of the company’s stock.

New York Mortgage Trust Company Profile

New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.

Analyst Recommendations for New York Mortgage Trust (NASDAQ:NYMT)

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