New York Mortgage Trust (NASDAQ:NYMT) Raised to Hold at StockNews.com

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

Separately, Janney Montgomery Scott assumed coverage on shares of New York Mortgage Trust in a research report on Tuesday, August 13th. They set a neutral rating and a $7.00 price target for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $7.75.

New York Mortgage Trust Price Performance

NYMT stock opened at $6.33 on Friday. The firm has a market capitalization of $577.47 million, a price-to-earnings ratio of -3.42 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 moving average price of $6.48 and a 200-day moving average price of $6.47. New York Mortgage Trust has a 52-week low of $5.51 and a 52-week high of $9.67.

New York Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, September 30th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 12.64%. The ex-dividend date of this dividend is Monday, September 30th. New York Mortgage Trust’s dividend payout ratio (DPR) is presently -43.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NYMT. EMG Holdings L.P. boosted its stake in shares of New York Mortgage Trust by 192.1% during the 4th quarter. EMG Holdings L.P. now owns 555,930 shares of the real estate investment trust’s stock worth $4,742,000 after acquiring an additional 365,622 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of New York Mortgage Trust by 1.3% during the 1st quarter. Van ECK Associates Corp now owns 578,929 shares of the real estate investment trust’s stock worth $4,168,000 after acquiring an additional 7,316 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of New York Mortgage Trust by 0.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 833,702 shares of the real estate investment trust’s stock worth $6,003,000 after acquiring an additional 6,148 shares during the last quarter. Sei Investments Co. boosted its stake in shares of New York Mortgage Trust by 11.8% during the 1st quarter. Sei Investments Co. now owns 73,072 shares of the real estate investment trust’s stock worth $526,000 after acquiring an additional 7,728 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new position in shares of New York Mortgage Trust during the 1st quarter worth $178,000. Hedge funds and other 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.