New York Mortgage Trust (NASDAQ:NYMT) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of New York Mortgage Trust (NASDAQ:NYMT) from a hold rating to a sell rating in a research report report published on Friday.

Separately, Janney Montgomery Scott began coverage on shares of New York Mortgage Trust in a research note on Tuesday, August 13th. They issued a neutral rating and a $7.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $7.75.

New York Mortgage Trust Stock Performance

NYMT stock opened at $6.74 on Friday. New York Mortgage Trust has a one year low of $5.51 and a one year high of $9.67. The firm has a market cap of $614.88 million, a price-to-earnings ratio of -3.64 and a beta of 1.94. The company has a debt-to-equity ratio of 6.30, a quick ratio of 6.46 and a current ratio of 6.46. The firm has a 50-day simple moving average of $6.50 and a two-hundred day simple moving average of $6.50.

New York Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.87%. New York Mortgage Trust’s payout ratio is -43.24%.

Hedge Funds Weigh In On New York Mortgage Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in New York Mortgage Trust by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock worth $13,032,000 after purchasing an additional 132,162 shares during the last quarter. EMG Holdings L.P. lifted its stake in shares of New York Mortgage Trust by 103.8% during the second quarter. EMG Holdings L.P. now owns 1,199,850 shares of the real estate investment trust’s stock worth $7,007,000 after buying an additional 610,971 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of New York Mortgage Trust by 0.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 833,702 shares of the real estate investment trust’s stock valued at $6,003,000 after buying an additional 6,148 shares during the last quarter. Van ECK Associates Corp increased its position in shares of New York Mortgage Trust by 35.8% in the 2nd quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust’s stock valued at $4,592,000 after acquiring an additional 207,344 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in New York Mortgage Trust by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 760,054 shares of the real estate investment trust’s stock worth $4,439,000 after acquiring an additional 42,007 shares during the last quarter. 54.89% of the stock is owned by hedge funds and other institutional investors.

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.