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Shares of New York Mortgage Trust (NASDAQ:NYMT) were the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 2,113,143 shares, a decline of 32.3% from the January 15th total of 3,121,614 shares, American Banking and Market News reports. Based on an average trading volume of 1,200,385 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.9% of the company’s stock are short sold.

A number of analysts have recently weighed in on NYMT shares. Analysts at Zacks upgraded shares of New York Mortgage Trust from an “underperform” rating to a “neutral” rating in a research note on Monday, December 9th. They now have a $7.20 price target on the stock. Analysts at JMP Securities initiated coverage on shares of New York Mortgage Trust in a research note on Tuesday, December 3rd. They set a “market perform” rating on the stock.

Shares of New York Mortgage Trust (NASDAQ:NYMT) traded up 0.27% on Thursday, hitting $7.45. 731,613 shares of the company’s stock traded hands. New York Mortgage Trust has a 1-year low of $5.55 and a 1-year high of $7.62. The stock’s 50-day moving average is $7.06 and its 200-day moving average is $6.64. The company has a market cap of $475.0 million and a price-to-earnings ratio of 7.75.

New York Mortgage Trust, Inc (NASDAQ:NYMT), together with its consolidated subsidiaries, is a self-advised real estate investment trust (REIT).

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