Maxim Group restated their buy rating on shares of New York Mortgage Trust (NASDAQ:NYMT) in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $6.25 target price on the real estate investment trust’s stock, down from their previous target price of $6.50.
Several other equities research analysts have also recently commented on the company. TheStreet raised New York Mortgage Trust from a d+ rating to a c rating in a report on Thursday, November 2nd. Zacks Investment Research cut New York Mortgage Trust from a buy rating to a hold rating in a report on Tuesday, January 9th. BidaskClub cut New York Mortgage Trust from a sell rating to a strong sell rating in a report on Thursday, December 21st. Keefe, Bruyette & Woods set a $6.00 price target on New York Mortgage Trust and gave the company a hold rating in a report on Sunday, November 12th. Finally, B. Riley reaffirmed a neutral rating and issued a $6.25 price target on shares of New York Mortgage Trust in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $6.25.
Shares of New York Mortgage Trust (NASDAQ:NYMT) opened at $5.70 on Wednesday. New York Mortgage Trust has a twelve month low of $5.35 and a twelve month high of $6.69. The company has a market capitalization of $637.57, a P/E ratio of 9.50 and a beta of 1.18. The company has a current ratio of 71.04, a quick ratio of 71.04 and a debt-to-equity ratio of 13.26.
New York Mortgage Trust (NASDAQ:NYMT) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.06. New York Mortgage Trust had a return on equity of 13.37% and a net margin of 22.10%. The firm had revenue of $15.04 million for the quarter, compared to analysts’ expectations of $19.97 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. analysts expect that New York Mortgage Trust will post 0.55 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Monday, December 18th were issued a $0.20 dividend. The ex-dividend date was Friday, December 15th. This represents a $0.80 annualized dividend and a dividend yield of 14.04%. New York Mortgage Trust’s dividend payout ratio is currently 133.33%.
Several hedge funds and other institutional investors have recently bought and sold shares of NYMT. Two Sigma Investments LP bought a new position in shares of New York Mortgage Trust in the fourth quarter valued at $2,438,000. Deutsche Bank AG increased its holdings in shares of New York Mortgage Trust by 61.9% in the fourth quarter. Deutsche Bank AG now owns 830,558 shares of the real estate investment trust’s stock valued at $5,123,000 after buying an additional 317,413 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of New York Mortgage Trust by 94.3% in the fourth quarter. Renaissance Technologies LLC now owns 568,300 shares of the real estate investment trust’s stock valued at $3,506,000 after buying an additional 275,800 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of New York Mortgage Trust in the fourth quarter valued at $1,400,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of New York Mortgage Trust by 31.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 777,472 shares of the real estate investment trust’s stock valued at $4,798,000 after buying an additional 185,193 shares in the last quarter. 38.10% of the stock is currently owned by institutional investors.
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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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