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 report released on Saturday.

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

New York Mortgage Trust Stock Down 3.3 %

Shares of NYMT stock opened at $6.12 on Friday. New York Mortgage Trust has a 12 month low of $5.51 and a 12 month high of $9.67. The firm has a market cap of $558.32 million, a PE ratio of -3.31 and a beta of 1.94. The stock has a 50 day moving average of $6.46 and a 200-day moving average of $6.46. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 6.30.

New York Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, September 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 13.07%. The ex-dividend date is Monday, September 30th. New York Mortgage Trust’s dividend payout ratio is currently -43.24%.

Hedge Funds Weigh In On New York Mortgage Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Evergreen Capital Management LLC acquired a new position in shares of New York Mortgage Trust during the second quarter valued at $83,000. AQR Capital Management LLC acquired a new position in New York Mortgage Trust in the second quarter valued at about $83,000. Intech Investment Management LLC acquired a new position in New York Mortgage Trust in the second quarter valued at about $122,000. Squarepoint Ops LLC acquired a new position in New York Mortgage Trust in the second quarter valued at about $136,000. Finally, SG Americas Securities LLC acquired a new position in New York Mortgage Trust in the second quarter valued at about $154,000. Institutional investors and hedge funds 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.