Zacks Investment Research cut shares of New York Mortgage Trust (NASDAQ:NYMT) from a buy rating to a hold rating in a research note published on Tuesday, January 9th.
According to Zacks, “New York Mortgage Trust is a real estate investment trust focused on owning and managing a leveraged portfolio of residential mortgage securities and a mortgage origination business. The mortgage portfolio is comprised largely of prime adjustable-rate and hybrid mortgage loans and securities, much of which, over time will be originated by NYMT’s wholly owned mortgage origination business, The New York Mortgage Company, a taxable real estate investment trust subsidiary. “
A number of other brokerages have also recently commented on NYMT. Keefe, Bruyette & Woods set a $6.00 target price on New York Mortgage Trust and gave the company a hold rating in a report on Sunday, November 12th. TheStreet upgraded New York Mortgage Trust from a d+ rating to a c rating in a report on Thursday, November 2nd. B. Riley restated a neutral rating and set a $6.25 price objective on shares of New York Mortgage Trust in a report on Tuesday, November 7th. BidaskClub cut New York Mortgage Trust from a sell rating to a strong sell rating in a report on Thursday, December 21st. Finally, Barclays raised their price objective on 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. New York Mortgage Trust currently has an average rating of Hold and an average target price of $6.35.
New York Mortgage Trust (NASDAQ:NYMT) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. New York Mortgage Trust had a return on equity of 10.78% and a net margin of 20.23%. analysts predict that New York Mortgage Trust will post 0.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Monday, December 18th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 13.31%. The ex-dividend date of this dividend is Friday, December 15th. New York Mortgage Trust’s dividend payout ratio (DPR) is presently 160.00%.
Several hedge funds and other institutional investors have recently made changes to their positions in NYMT. SG Americas Securities LLC purchased a new stake in shares of New York Mortgage Trust during the third quarter worth about $115,000. BNP Paribas Arbitrage SA grew its stake in New York Mortgage Trust by 183.4% in the second quarter. BNP Paribas Arbitrage SA now owns 21,139 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 13,679 shares in the last quarter. ETRADE Capital Management LLC grew its stake in New York Mortgage Trust by 4.2% in the second quarter. ETRADE Capital Management LLC now owns 21,127 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 851 shares in the last quarter. Sei Investments Co. grew its stake in New York Mortgage Trust by 50.4% in the second quarter. Sei Investments Co. now owns 23,931 shares of the real estate investment trust’s stock worth $149,000 after purchasing an additional 8,018 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in New York Mortgage Trust in the second quarter worth about $160,000. 37.80% of the stock is currently owned by institutional investors and hedge funds.
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About New York Mortgage Trust
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.
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