Brokerages Set NY MTG TR INC/SH (NYMT) Price Target at $6.38

NY MTG TR INC/SH (NASDAQ:NYMT) has received an average rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.38.

NYMT has been the subject of several recent research reports. BidaskClub raised NY MTG TR INC/SH from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Maxim Group reissued 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 report on Friday, August 3rd. LADENBURG THALM/SH SH downgraded NY MTG TR INC/SH from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. Zacks Investment Research downgraded NY MTG TR INC/SH from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Finally, ValuEngine downgraded NY MTG TR INC/SH from a “hold” rating to a “sell” rating in a report on Thursday, October 4th.

Institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its holdings in NY MTG TR INC/SH by 119.8% in the first quarter. LPL Financial LLC now owns 22,484 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 12,255 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in NY MTG TR INC/SH in the third quarter valued at $137,000. Russell Investments Group Ltd. acquired a new stake in NY MTG TR INC/SH in the third quarter valued at $258,000. SG Americas Securities LLC lifted its holdings in NY MTG TR INC/SH by 174.3% in the second quarter. SG Americas Securities LLC now owns 47,416 shares of the real estate investment trust’s stock valued at $285,000 after acquiring an additional 30,128 shares during the period. Finally, MetLife Investment Advisors LLC lifted its holdings in NY MTG TR INC/SH by 58.1% in the second quarter. MetLife Investment Advisors LLC now owns 53,512 shares of the real estate investment trust’s stock valued at $322,000 after acquiring an additional 19,666 shares during the period. 52.25% of the stock is owned by institutional investors.

Shares of NASDAQ NYMT traded up $0.05 during mid-day trading on Monday, hitting $6.11. 1,240,002 shares of the company were exchanged, compared to its average volume of 1,536,833. The company has a debt-to-equity ratio of 13.55, a current ratio of 88.96 and a quick ratio of 88.95. NY MTG TR INC/SH has a 1-year low of $5.35 and a 1-year high of $6.54. The company has a market cap of $855.76 million, a PE ratio of 9.26 and a beta of 1.00.

NY MTG TR INC/SH (NASDAQ:NYMT) last issued its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.05. NY MTG TR INC/SH had a return on equity of 17.13% and a net margin of 25.07%. The firm had revenue of $19.60 million during the quarter, compared to the consensus estimate of $17.10 million. Analysts anticipate that NY MTG TR INC/SH will post 0.79 earnings per share for the current fiscal year.

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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