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Shares of New York Mortgage Trust (NASDAQ:NYMT) were the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 2,968,743 shares, a drop of 35.0% from the March 31st total of 4,570,208 shares, Analyst Ratings Network reports. Approximately 3.9% of the shares of the company are sold short. Based on an average daily volume of 3,397,899 shares, the days-to-cover ratio is currently 0.9 days.

NYMT has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of New York Mortgage Trust in a research note on Monday, April 14th. They now have a $7.00 price target on the stock. Separately, analysts at Zacks downgraded shares of New York Mortgage Trust from a “neutral” rating to an “underperform” rating in a research note on Monday, April 7th. They now have a $7.10 price target on the stock. Finally, analysts at UBS AG initiated coverage on shares of New York Mortgage Trust in a research note on Friday, March 21st. They set a “buy” rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $7.83.

Shares of New York Mortgage Trust (NASDAQ:NYMT) opened at 7.38 on Monday. New York Mortgage Trust has a 52 week low of $5.55 and a 52 week high of $8.12. The stock’s 50-day moving average is $7.57 and its 200-day moving average is $7.15. The company has a market cap of $558.7 million and a price-to-earnings ratio of 6.69.

New York Mortgage Trust (NASDAQ:NYMT) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.11.

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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