Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) have earned a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.33.
Several equities research analysts recently weighed in on NYMT shares. Zacks Investment Research lowered New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. BidaskClub lowered New York Mortgage Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $6.00 price objective on New York Mortgage Trust and gave the stock a “hold” rating in a report on Monday, August 14th. Barclays PLC lifted their price objective on New York Mortgage Trust from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 10th. Finally, TheStreet lowered New York Mortgage Trust from a “c” rating to a “d+” rating in a report on Friday, August 4th.
A number of hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers purchased a new position in New York Mortgage Trust during the 2nd quarter valued at about $160,000. The Manufacturers Life Insurance Company grew its holdings in New York Mortgage Trust by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 90,638 shares of the real estate investment trust’s stock valued at $564,000 after buying an additional 4,923 shares in the last quarter. State Street Corp grew its holdings in New York Mortgage Trust by 5.8% during the 2nd quarter. State Street Corp now owns 2,325,571 shares of the real estate investment trust’s stock valued at $14,468,000 after buying an additional 126,981 shares in the last quarter. Royal Bank of Canada grew its holdings in New York Mortgage Trust by 27.1% during the 2nd quarter. Royal Bank of Canada now owns 465,612 shares of the real estate investment trust’s stock valued at $2,897,000 after buying an additional 99,163 shares in the last quarter. Finally, QS Investors LLC grew its holdings in New York Mortgage Trust by 56.6% during the 2nd quarter. QS Investors LLC now owns 30,424 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 10,999 shares in the last quarter. 36.11% of the stock is owned by institutional investors and hedge funds.
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New York Mortgage Trust (NYMT) traded up 0.32% during trading on Friday, hitting $6.29. 698,249 shares of the company traded hands. New York Mortgage Trust has a 12-month low of $5.72 and a 12-month high of $7.04. The stock has a 50 day moving average price of $6.25 and a 200 day moving average price of $6.27. The company has a market capitalization of $703.79 million, a P/E ratio of 12.33 and a beta of 1.37.
New York Mortgage Trust (NASDAQ:NYMT) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). New York Mortgage Trust had a return on equity of 10.05% and a net margin of 19.62%. The firm had revenue of $15.71 million during the quarter, compared to analysts’ expectations of $17.42 million. During the same period last year, the business posted $0.10 EPS. The company’s revenue was down 5.7% compared to the same quarter last year. On average, equities analysts anticipate that New York Mortgage Trust will post $0.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 12.72%. The ex-dividend date is Friday, September 22nd. New York Mortgage Trust’s payout ratio is presently 156.87%.
About New York Mortgage Trust
New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.
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