StockNews.com Upgrades New York Mortgage Trust (NASDAQ:NYMT) to “Hold”

New York Mortgage Trust (NASDAQ:NYMT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, B. Riley reduced their price objective on New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

New York Mortgage Trust Stock Performance

NASDAQ:NYMT traded up $0.01 during trading hours on Wednesday, hitting $6.05. 407,574 shares of the company were exchanged, compared to its average volume of 567,090. The company’s 50 day moving average price is $6.07 and its 200-day moving average price is $6.12. The stock has a market capitalization of $548.01 million, a price-to-earnings ratio of -18.33 and a beta of 1.92. New York Mortgage Trust has a 52-week low of $5.14 and a 52-week high of $7.68. The company has a debt-to-equity ratio of 7.24, a current ratio of 8.25 and a quick ratio of 8.25.

Institutional Trading of New York Mortgage Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its holdings in New York Mortgage Trust by 347.4% in the 3rd quarter. Barclays PLC now owns 150,946 shares of the real estate investment trust’s stock worth $955,000 after buying an additional 117,206 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of New York Mortgage Trust by 0.4% in the third quarter. Geode Capital Management LLC now owns 2,261,614 shares of the real estate investment trust’s stock valued at $14,320,000 after acquiring an additional 10,017 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of New York Mortgage Trust by 91.5% in the third quarter. Intech Investment Management LLC now owns 40,113 shares of the real estate investment trust’s stock worth $254,000 after acquiring an additional 19,165 shares during the last quarter. Jane Street Group LLC raised its stake in New York Mortgage Trust by 17.5% in the 3rd quarter. Jane Street Group LLC now owns 164,388 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 24,430 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in New York Mortgage Trust in the 2nd quarter valued at $83,000. Hedge funds and other institutional investors 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.