NY MTG TR INC/SH (NASDAQ:NYMT) Receives $6.08 Consensus Target Price from Analysts

NY MTG TR INC/SH (NASDAQ:NYMT) has been given an average rating of “Hold” by the eight brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $6.08.

NYMT has been the subject of several recent research reports. BidaskClub downgraded NY MTG TR INC/SH from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 14th. Nomura initiated coverage on NY MTG TR INC/SH in a report on Wednesday, March 27th. They issued a “buy” rating and a $6.50 price objective for the company. Zacks Investment Research upgraded NY MTG TR INC/SH from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a report on Friday, May 17th. Finally, Maxim Group restated a “buy” rating and issued a $6.75 price objective on shares of NY MTG TR INC/SH in a report on Tuesday, May 7th.

Shares of NYMT stock traded up $0.07 on Friday, hitting $6.24. The stock had a trading volume of 169,542 shares, compared to its average volume of 2,149,176. The company has a debt-to-equity ratio of 14.72, a current ratio of 120.54 and a quick ratio of 120.54. The company has a market capitalization of $1.31 billion, a P/E ratio of 7.24 and a beta of 0.81. NY MTG TR INC/SH has a one year low of $5.58 and a one year high of $6.54.

NY MTG TR INC/SH (NASDAQ:NYMT) last released its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $26.20 million during the quarter, compared to the consensus estimate of $23.00 million. NY MTG TR INC/SH had a return on equity of 13.32% and a net margin of 21.47%. On average, analysts anticipate that NY MTG TR INC/SH will post 0.64 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY raised its holdings in NY MTG TR INC/SH by 15.7% in the first quarter. Metropolitan Life Insurance Co NY now owns 55,040 shares of the real estate investment trust’s stock worth $335,000 after purchasing an additional 7,465 shares in the last quarter. MetLife Investment Advisors LLC raised its holdings in NY MTG TR INC/SH by 19.8% in the first quarter. MetLife Investment Advisors LLC now owns 76,110 shares of the real estate investment trust’s stock worth $464,000 after purchasing an additional 12,593 shares in the last quarter. Advisors Asset Management Inc. bought a new position in NY MTG TR INC/SH in the first quarter worth about $2,197,000. Geode Capital Management LLC raised its holdings in NY MTG TR INC/SH by 28.7% in the first quarter. Geode Capital Management LLC now owns 2,180,493 shares of the real estate investment trust’s stock worth $13,279,000 after purchasing an additional 486,281 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in NY MTG TR INC/SH by 7.0% in the first quarter. California State Teachers Retirement System now owns 260,574 shares of the real estate investment trust’s stock worth $1,587,000 after purchasing an additional 17,131 shares in the last quarter. Institutional investors and hedge funds own 47.70% of the company’s stock.

NY MTG TR INC/SH Company Profile

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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Analyst Recommendations for NY MTG TR INC/SH (NASDAQ:NYMT)

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