NY MTG TR INC/SH (NASDAQ:NYMT) has been given a consensus recommendation of “Hold” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.08.
NYMT has been the topic of several recent analyst reports. BidaskClub downgraded shares of NY MTG TR INC/SH from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 6th. Nomura started coverage on shares of NY MTG TR INC/SH in a research note on Wednesday, March 27th. They issued a “buy” rating and a $6.50 target price on the stock. Barclays cut NY MTG TR INC/SH from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a report on Thursday, February 28th. Finally, Zacks Investment Research cut NY MTG TR INC/SH from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th.
Several institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio raised its holdings in shares of NY MTG TR INC/SH by 7.9% in the first quarter. Strs Ohio now owns 45,300 shares of the real estate investment trust’s stock valued at $275,000 after buying an additional 3,300 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of NY MTG TR INC/SH in the first quarter valued at about $183,000. Mercer Global Advisors Inc. ADV bought a new position in shares of NY MTG TR INC/SH in the first quarter valued at about $118,000. Geode Capital Management LLC raised its holdings in shares of NY MTG TR INC/SH by 24.9% in the fourth quarter. Geode Capital Management LLC now owns 1,694,212 shares of the real estate investment trust’s stock valued at $9,978,000 after buying an additional 338,211 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of NY MTG TR INC/SH by 10.4% in the fourth quarter. Amalgamated Bank now owns 21,957 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 2,065 shares during the last quarter. 44.04% of the stock is owned by institutional investors and hedge funds.
NY MTG TR INC/SH (NASDAQ:NYMT) last issued its earnings results on Thursday, February 21st. The real estate investment trust reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.13). NY MTG TR INC/SH had a net margin of 20.71% and a return on equity of 13.29%. The firm had revenue of $21.87 million during the quarter, compared to analyst estimates of $19.90 million. On average, analysts forecast that NY MTG TR INC/SH will post 0.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Friday, March 29th will be issued a $0.20 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.76%. NY MTG TR INC/SH’s dividend payout ratio is 93.02%.
About NY MTG TR INC/SH
New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related and residential housing-related assets in the United States. Its investment portfolio includes structured multi-family property investments, such as multi-family commercial mortgage-backed securities and preferred equity in, and mezzanine loans to owners of multi-family properties; residential mortgage loans, including distressed residential mortgage loans, non- qualified mortgage loans, second mortgages, and other residential mortgage loans; non-agency residential mortgage-backed securities (RMBS); agency RMBS; and other mortgage-related and residential housing-related assets.
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