New York Mortgage Trust (NASDAQ:NYMT) Stock Price Up 3.9% – Here’s Why

New York Mortgage Trust, Inc. (NASDAQ:NYMT)’s stock price was up 3.9% on Monday . The stock traded as high as $6.54 and last traded at $6.55. Approximately 440,969 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 679,272 shares. The stock had previously closed at $6.30.

Wall Street Analysts Forecast Growth

NYMT has been the subject of several research reports. StockNews.com upgraded shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Sunday, March 2nd. B. Riley decreased their target price on shares of New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.

New York Mortgage Trust Stock Down 0.2 %

The business’s fifty day simple moving average is $6.46 and its two-hundred day simple moving average is $6.16. The company has a market cap of $586.87 million, a PE ratio of -5.68 and a beta of 1.93. The company has a debt-to-equity ratio of 8.33, a current ratio of 11.17 and a quick ratio of 8.25.

New York Mortgage Trust (NASDAQ:NYMT) last announced its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.47). The business had revenue of $26.71 million during the quarter, compared to analysts’ expectations of $20.06 million. New York Mortgage Trust had a negative net margin of 15.46% and a negative return on equity of 1.39%. On average, analysts predict that New York Mortgage Trust, Inc. will post 0.51 earnings per share for the current year.

New York Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Monday, March 31st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 12.35%. The ex-dividend date of this dividend is Monday, March 31st. New York Mortgage Trust’s payout ratio is presently -70.18%.

Hedge Funds Weigh In On New York Mortgage Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NYMT. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in New York Mortgage Trust in the 4th quarter valued at $49,000. McIlrath & Eck LLC purchased a new position in shares of New York Mortgage Trust in the third quarter worth about $62,000. Caxton Associates LP acquired a new position in New York Mortgage Trust during the fourth quarter worth about $69,000. Tower Research Capital LLC TRC grew its stake in New York Mortgage Trust by 18.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,945 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 2,014 shares in the last quarter. Finally, Guggenheim Capital LLC acquired a new stake in New York Mortgage Trust in the 4th quarter valued at about $80,000. 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.