UBS Group Lowers New York Mortgage Trust (NASDAQ:NYMT) Price Target to $6.00

New York Mortgage Trust (NASDAQ:NYMT) had its price target lowered by UBS Group from $7.50 to $6.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

A number of other research analysts also recently commented on NYMT. StockNews.com downgraded shares of New York Mortgage Trust from a hold rating to a sell rating in a research report on Friday, May 3rd. B. Riley reissued a buy rating and set a $11.00 price target (down previously from $15.00) on shares of New York Mortgage Trust in a research report on Monday, March 25th. Finally, Keefe, Bruyette & Woods cut their price objective on 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, May 3rd.

New York Mortgage Trust Stock Performance

NYMT opened at $6.02 on Wednesday. The company has a debt-to-equity ratio of 5.03, a quick ratio of 4.29 and a current ratio of 4.02. The business’s 50-day simple moving average is $7.00 and its 200 day simple moving average is $7.78. The firm has a market capitalization of $549.19 million, a PE ratio of -3.25 and a beta of 1.91. New York Mortgage Trust has a 52-week low of $5.78 and a 52-week high of $10.63.

New York Mortgage Trust (NASDAQ:NYMT) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42). New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. The company had revenue of $83.89 million for the quarter, compared to the consensus estimate of $19.64 million. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, sell-side analysts expect that New York Mortgage Trust will post 0.55 earnings per share for the current fiscal year.

New York Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 25th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $0.80 annualized dividend and a yield of 13.29%. New York Mortgage Trust’s dividend payout ratio (DPR) is presently -43.24%.

Hedge Funds Weigh In On New York Mortgage Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in New York Mortgage Trust by 9.1% in the 4th quarter. SG Americas Securities LLC now owns 23,802 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 1,979 shares during the period. EMC Capital Management lifted its holdings in shares of New York Mortgage Trust by 31.3% during the third quarter. EMC Capital Management now owns 9,863 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 2,350 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of New York Mortgage Trust by 2.4% in the third quarter. New York State Teachers Retirement System now owns 134,612 shares of the real estate investment trust’s stock valued at $1,143,000 after acquiring an additional 3,100 shares during the period. Yousif Capital Management LLC increased its position in New York Mortgage Trust by 11.7% during the fourth quarter. Yousif Capital Management LLC now owns 51,046 shares of the real estate investment trust’s stock worth $435,000 after acquiring an additional 5,352 shares during the period. Finally, New York State Common Retirement Fund raised its stake in New York Mortgage Trust by 19.7% in the 4th quarter. New York State Common Retirement Fund now owns 34,025 shares of the real estate investment trust’s stock worth $290,000 after purchasing an additional 5,594 shares in the last quarter. Institutional investors and hedge funds own 54.89% of the company’s stock.

New York Mortgage Trust Company Profile

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.