StockNews.com Downgrades New York Mortgage Trust (NASDAQ:NYMT) to Sell

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

Separately, Janney Montgomery Scott initiated coverage on New York Mortgage Trust in a report on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, New York Mortgage Trust currently has a consensus rating of “Hold” and a consensus target price of $7.75.

New York Mortgage Trust Trading Down 0.3 %

NYMT traded down $0.02 during trading on Tuesday, hitting $5.94. 628,168 shares of the stock were exchanged, compared to its average volume of 615,734. The company has a debt-to-equity ratio of 7.24, a quick ratio of 8.25 and a current ratio of 8.25. The firm has a 50 day simple moving average of $5.95 and a 200 day simple moving average of $6.13. The firm has a market cap of $538.05 million, a price-to-earnings ratio of -18.00 and a beta of 1.94. New York Mortgage Trust has a 1 year low of $5.14 and a 1 year high of $9.67.

Institutional Investors Weigh In On New York Mortgage Trust

A number of institutional investors have recently added to or reduced their stakes in NYMT. State Street Corp raised its holdings in New York Mortgage Trust by 1.6% in the third quarter. State Street Corp now owns 3,495,306 shares of the real estate investment trust’s stock worth $22,820,000 after purchasing an additional 54,597 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 10,017 shares in the last quarter. EMG Holdings L.P. lifted its position in New York Mortgage Trust by 103.8% during the second quarter. EMG Holdings L.P. now owns 1,199,850 shares of the real estate investment trust’s stock valued at $7,007,000 after acquiring an additional 610,971 shares during the last quarter. Van ECK Associates Corp boosted its stake in New York Mortgage Trust by 35.8% in the second quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust’s stock valued at $4,592,000 after acquiring an additional 207,344 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in New York Mortgage Trust by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 760,054 shares of the real estate investment trust’s stock worth $4,439,000 after purchasing an additional 42,007 shares during the last quarter. 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.