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

New York Mortgage Trust (NASDAQ:NYMT) had its target price lowered by stock analysts at UBS Group from $7.50 to $6.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target points to a potential downside of 0.50% from the company’s current price.

A number of other brokerages have also recently commented on NYMT. B. Riley reiterated a “buy” rating and issued a $11.00 target price (down previously from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th. Keefe, Bruyette & Woods dropped their price objective on shares of New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Finally, StockNews.com cut shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd.

New York Mortgage Trust Price Performance

NYMT stock traded down $0.12 during trading on Wednesday, hitting $6.03. 117,562 shares of the company’s stock traded hands, compared to its average volume of 616,041. New York Mortgage Trust has a 52 week low of $5.78 and a 52 week high of $10.63. The stock has a market capitalization of $550.12 million, a price-to-earnings ratio of -3.26 and a beta of 1.91. The business has a fifty day simple moving average of $7.02 and a 200 day simple moving average of $7.79. The company has a debt-to-equity ratio of 5.03, a quick ratio of 4.29 and a current ratio of 4.02.

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

Hedge Funds Weigh In On New York Mortgage Trust

Several hedge funds have recently bought and sold shares of NYMT. EMC Capital Management boosted its stake 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 valued at $84,000 after purchasing an additional 2,350 shares during the period. HBK Sorce Advisory LLC purchased a new stake in New York Mortgage Trust in the 3rd quarter valued at about $103,000. Kestra Private Wealth Services LLC bought a new position in New York Mortgage Trust in the 4th quarter worth about $115,000. SG Americas Securities LLC bought a new position in New York Mortgage Trust in the 3rd quarter worth about $185,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of New York Mortgage Trust during the fourth quarter worth approximately $201,000. Institutional investors own 54.89% of the company’s stock.

About New York Mortgage Trust

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.