New York Mortgage Trust (NASDAQ:NYMT) Stock Price Up 3.9% – Still a Buy?

New York Mortgage Trust, Inc. (NASDAQ:NYMT)’s share price was up 3.9% during trading on Monday . The company traded as high as $6.54 and last traded at $6.55. Approximately 440,969 shares traded hands during 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

A number of equities analysts have weighed in on NYMT shares. B. Riley lowered their price objective on New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. StockNews.com raised shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Sunday, March 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New York Mortgage Trust presently has an average rating of “Hold” and a consensus target price of $7.00.

New York Mortgage Trust Trading Down 0.2 %

The firm has a market capitalization of $586.87 million, a PE ratio of -5.68 and a beta of 1.93. The business has a fifty day moving average price of $6.46 and a two-hundred day moving average price of $6.16. The company has a current ratio of 11.17, a quick ratio of 8.25 and a debt-to-equity ratio of 8.33.

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

New York Mortgage Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 12.35%. The ex-dividend date is Monday, March 31st. New York Mortgage Trust’s dividend payout ratio (DPR) is -70.18%.

Institutional Trading of New York Mortgage Trust

A number of large investors have recently modified their holdings of NYMT. Barclays PLC lifted its stake in New York Mortgage Trust by 347.4% in the third quarter. Barclays PLC now owns 150,946 shares of the real estate investment trust’s stock worth $955,000 after acquiring an additional 117,206 shares during the last quarter. Geode Capital Management LLC grew its position in New York Mortgage Trust by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,261,614 shares of the real estate investment trust’s stock worth $14,320,000 after purchasing an additional 10,017 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of New York Mortgage Trust by 91.5% during the third quarter. Intech Investment Management LLC now owns 40,113 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 19,165 shares during the last quarter. Jane Street Group LLC raised its stake in shares of New York Mortgage Trust by 17.5% during the third quarter. Jane Street Group LLC now owns 164,388 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 24,430 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of New York Mortgage Trust during the 4th quarter worth approximately $126,000. 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.