New York Mortgage Trust (NASDAQ:NYMT) Lowered to Sell Rating by StockNews.com

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

Separately, Janney Montgomery Scott started coverage on shares of New York Mortgage Trust in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.75.

New York Mortgage Trust Stock Performance

Shares of New York Mortgage Trust stock opened at $5.89 on Tuesday. The business has a fifty day simple moving average of $5.92 and a 200-day simple moving average of $6.13. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 7.24. New York Mortgage Trust has a 12 month low of $5.14 and a 12 month high of $9.67. The stock has a market cap of $533.51 million, a PE ratio of -17.85 and a beta of 1.94.

New York Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Monday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 13.58%. New York Mortgage Trust’s dividend payout ratio (DPR) is presently -242.42%.

Institutional Trading of New York Mortgage Trust

Several hedge funds have recently modified their holdings of NYMT. Waterfall Asset Management LLC acquired a new position in shares of New York Mortgage Trust in the 2nd quarter valued at approximately $1,727,000. Los Angeles Capital Management LLC bought a new position in New York Mortgage Trust during the second quarter worth about $630,000. AQR Capital Management LLC acquired a new stake in New York Mortgage Trust during the 2nd quarter valued at $83,000. Sequoia Financial Advisors LLC bought a new stake in shares of New York Mortgage Trust during the 3rd quarter worth about $76,000. Finally, Sei Investments Co. boosted its holdings in shares of New York Mortgage Trust by 11.8% during the first 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 period. 54.89% of the stock is owned by institutional investors.

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.