New York Mortgage Trust Upgraded to Neutral by Zacks (NYMT)
New York Mortgage Trust (NASDAQ:NYMT) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Tuesday, Analyst Ratings.Net reports. The firm currently has a $6.30 price objective on the stock. Zacks‘ target price would indicate a potential upside of 2.94% from the stock’s previous close.
Shares of New York Mortgage Trust (NASDAQ:NYMT) traded down 0.66% during mid-day trading on Tuesday, hitting $6.0797. 394,404 shares of the company’s stock traded hands. New York Mortgage Trust has a one year low of $5.51 and a one year high of $7.62. The stock’s 50-day moving average is $6.22 and its 200-day moving average is $6.. The company has a market cap of $387.6 million and a P/E ratio of 6.42.
New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.05.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 17.65%. The ex-dividend date of this dividend is Thursday, September 19th.
A number of other analysts have also recently weighed in on NYMT. Analysts at Deutsche Bank cut their price target on shares of New York Mortgage Trust from $7.50 to $7.00 in a research note to investors on Friday, August 9th. Analysts at Ladenburg Thalmann cut their price target on shares of New York Mortgage Trust to $7.50 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock.
New York Mortgage Trust, Inc (NASDAQ:NYMT), together with its consolidated subsidiaries, is a self-advised real estate investment trust (REIT).
To view Zacks’ full report, visit www.zacks.com
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