New York Mortgage Trust (NASDAQ:NYMT) Downgraded by StockNews.com

New York Mortgage Trust (NASDAQ:NYMT) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Other analysts have also recently issued research reports about the stock. B. Riley reiterated a “buy” rating and issued a $11.00 price objective (down previously from $15.00) on shares of New York Mortgage Trust in a research note on Monday, March 25th. Keefe, Bruyette & Woods dropped their price target on shares of New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating for the company in a research report on Friday.

New York Mortgage Trust Stock Performance

NASDAQ:NYMT opened at $6.21 on Friday. The stock has a 50 day simple moving average of $7.06 and a 200 day simple moving average of $7.82. The stock has a market cap of $566.54 million, a P/E ratio of -3.36 and a beta of 1.91. New York Mortgage Trust has a 1-year low of $5.78 and a 1-year high of $10.63. The company has a current ratio of 4.02, a quick ratio of 4.29 and a debt-to-equity ratio of 5.03.

New York Mortgage Trust (NASDAQ:NYMT) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42). The firm had revenue of $83.89 million for the quarter, compared to analyst estimates of $19.64 million. New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. During the same period in the prior year, the business posted $0.11 EPS. Research analysts anticipate that New York Mortgage Trust will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On New York Mortgage Trust

A number of large investors have recently bought and sold shares of the company. EMC Capital Management raised its position in shares of New York Mortgage Trust by 31.3% in the 3rd quarter. EMC Capital Management now owns 9,863 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 2,350 shares in the last quarter. HBK Sorce Advisory LLC bought a new position in New York Mortgage Trust in the third quarter valued at approximately $103,000. Kestra Private Wealth Services LLC acquired a new position in New York Mortgage Trust during the fourth quarter valued at approximately $115,000. SG Americas Securities LLC bought a new stake in New York Mortgage Trust during the third quarter worth $185,000. Finally, Teacher Retirement System of Texas bought a new stake in New York Mortgage Trust during the fourth quarter worth $201,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

About New York Mortgage Trust

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, including business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgage, residential housing, and credit-related assets.