NY Mtg Tr Inc/SH (NYMT) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of NY Mtg Tr Inc/SH (NASDAQ:NYMT) from a sell rating to a hold rating in a report published on Tuesday morning.

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 also recently commented on NYMT. LADENBURG THALM/SH SH downgraded NY Mtg Tr Inc/SH from a buy rating to a neutral rating in a research note on Monday, August 6th. BidaskClub downgraded NY Mtg Tr Inc/SH from a hold rating to a sell rating in a research note on Saturday, September 15th. Maxim Group restated a buy rating and issued a $6.75 target price (up previously from $6.25) on shares of NY Mtg Tr Inc/SH in a research note on Friday, August 3rd. Finally, ValuEngine downgraded NY Mtg Tr Inc/SH from a hold rating to a sell rating in a research note on Tuesday, June 12th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $6.44.

NY Mtg Tr Inc/SH stock opened at $5.83 on Tuesday. The company has a current ratio of 86.93, a quick ratio of 86.93 and a debt-to-equity ratio of 14.47. The stock has a market cap of $845.49 million, a price-to-earnings ratio of 8.83 and a beta of 1.11. NY Mtg Tr Inc/SH has a fifty-two week low of $5.35 and a fifty-two week high of $6.54.

NY Mtg Tr Inc/SH (NASDAQ:NYMT) last posted its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The business had revenue of $17.50 million for the quarter. NY Mtg Tr Inc/SH had a return on equity of 17.07% and a net margin of 24.78%. On average, research analysts forecast that NY Mtg Tr Inc/SH will post 0.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Thursday, September 27th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, September 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.72%. NY Mtg Tr Inc/SH’s payout ratio is 121.21%.

Institutional investors and hedge funds have recently modified their holdings of the company. Element Capital Management LLC purchased a new stake in shares of NY Mtg Tr Inc/SH in the first quarter worth about $113,000. Profund Advisors LLC purchased a new position in NY Mtg Tr Inc/SH during the first quarter worth approximately $122,000. LPL Financial LLC boosted its position in NY Mtg Tr Inc/SH by 119.8% during the first quarter. LPL Financial LLC now owns 22,484 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 12,255 shares in the last quarter. Mason Street Advisors LLC purchased a new position in NY Mtg Tr Inc/SH during the first quarter worth approximately $184,000. Finally, Cambridge Investment Research Advisors Inc. boosted its position in NY Mtg Tr Inc/SH by 35.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 41,268 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 10,753 shares in the last quarter. Hedge funds and other institutional investors own 44.89% of the company’s stock.

NY Mtg Tr Inc/SH Company Profile

New York Mortgage Trust, Inc, a real estate investment trust (REIT), acquires, invests in, finances, and manages mortgage-related and residential housing-related, and financial assets in the United States. The company's investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets; non-agency residential mortgage-backed securities; multi-family commercial mortgage-backed securities; and preferred equities.

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