Stock analysts at FBR & Co began coverage on shares of New York Mortgage Trust Inc. (NASDAQ:NYMT) in a research note issued to investors on Monday. The firm set a “market perform” rating and a $6.25 price target on the stock. FBR & Co’s price objective points to a potential upside of 8.13% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on NYMT. Zacks Investment Research cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Credit Suisse Group AG reaffirmed a “sell” rating and issued a $5.50 target price on shares of New York Mortgage Trust in a report on Wednesday, August 3rd. Deutsche Bank AG set a $6.00 target price on New York Mortgage Trust and gave the stock a “hold” rating in a report on Saturday, August 6th. Finally, Keefe, Bruyette & Woods set a $6.80 target price on New York Mortgage Trust and gave the stock a “hold” rating in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.01.
Shares of New York Mortgage Trust (NASDAQ:NYMT) opened at 5.78 on Monday. The firm has a 50-day moving average price of $5.98 and a 200 day moving average price of $5.84. The stock has a market cap of $633.31 million, a PE ratio of 13.08 and a beta of 1.00. New York Mortgage Trust has a 12-month low of $3.82 and a 12-month high of $6.68.
New York Mortgage Trust (NASDAQ:NYMT) last issued its earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.08. New York Mortgage Trust had a return on equity of 8.89% and a net margin of 18.56%. During the same period in the prior year, the firm earned $0.20 earnings per share. Equities research analysts expect that New York Mortgage Trust will post $0.90 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Monday, September 26th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, September 22nd. This represents a $0.96 annualized dividend and a yield of 16.61%. New York Mortgage Trust’s payout ratio is currently 218.19%.
A number of large investors have recently modified their holdings of NYMT. BlackRock Institutional Trust Company N.A. boosted its position in New York Mortgage Trust by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,194,887 shares of the company’s stock worth $15,144,000 after buying an additional 70,243 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in New York Mortgage Trust by 36.8% in the first quarter. Goldman Sachs Group Inc. now owns 223,129 shares of the company’s stock worth $1,058,000 after buying an additional 60,046 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in New York Mortgage Trust by 1.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 76,802 shares of the company’s stock worth $364,000 after buying an additional 792 shares in the last quarter. Bank of New York Mellon Corp boosted its position in New York Mortgage Trust by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 434,024 shares of the company’s stock worth $2,648,000 after buying an additional 10,754 shares in the last quarter. Finally, Investors Capital Advisory Services boosted its position in New York Mortgage Trust by 1.1% in the second quarter. Investors Capital Advisory Services now owns 57,425 shares of the company’s stock worth $350,000 after buying an additional 600 shares in the last quarter. 28.22% of the stock is currently owned by institutional investors.
About New York Mortgage Trust
New York Mortgage Trust, Inc is a real estate investment trust. The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. Its investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, multi-family commercial mortgage-backed securities (CMBS), mezzanine loans to and preferred equity investments in owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and commercial real estate-related debt investments, and Agency residential mortgage-backed securities (RMBS).
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