New York Mortgage Trust Inc. (NASDAQ:NYMT) Receives Consensus Recommendation of “Hold” from Analysts
New York Mortgage Trust Inc. (NASDAQ:NYMT) has received a consensus recommendation of “Hold” from the eight analysts that are currently covering the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.96.
NYMT has been the topic of several research analyst reports. Zacks Investment Research cut shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Credit Suisse Group AG reaffirmed a “sell” rating and issued a $5.50 price target on shares of New York Mortgage Trust in a report on Wednesday, August 3rd. Deutsche Bank AG set a $6.00 price target on shares of New York Mortgage Trust and gave the stock a “hold” rating in a report on Saturday, August 6th. Finally, Keefe, Bruyette & Woods set a $6.80 price target on shares of New York Mortgage Trust and gave the stock a “hold” rating in a report on Tuesday, August 9th.
Shares of New York Mortgage Trust (NASDAQ:NYMT) traded up 0.614% on Friday, reaching $5.735. The company had a trading volume of 290,804 shares. The company has a market capitalization of $628.38 million, a PE ratio of 12.975 and a beta of 1.00. New York Mortgage Trust has a one year low of $3.82 and a one year high of $6.68. The company’s 50-day moving average is $6.00 and its 200-day moving average is $5.81.
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New York Mortgage Trust (NASDAQ:NYMT) last issued its earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.08. New York Mortgage Trust had a net margin of 18.56% and a return on equity of 8.89%. During the same quarter in the prior year, the firm posted $0.20 EPS. Equities research analysts predict that New York Mortgage Trust will post $0.90 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Monday, September 26th will be paid a $0.24 dividend. The ex-dividend date is Thursday, September 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 16.84%. New York Mortgage Trust’s dividend payout ratio is presently 218.19%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. boosted its position in New York Mortgage Trust by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,194,887 shares of the company’s stock worth $15,144,000 after buying an additional 70,243 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in New York Mortgage Trust by 36.8% in the first quarter. Goldman Sachs Group Inc. now owns 223,129 shares of the company’s stock worth $1,058,000 after buying an additional 60,046 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in New York Mortgage Trust by 1.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 76,802 shares of the company’s stock worth $364,000 after buying an additional 792 shares in the last quarter. Royal Bank of Canada boosted its position in New York Mortgage Trust by 27.3% in the first quarter. Royal Bank of Canada now owns 194,292 shares of the company’s stock worth $921,000 after buying an additional 41,617 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in New York Mortgage Trust by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 434,024 shares of the company’s stock worth $2,648,000 after buying an additional 10,754 shares in the last quarter. 28.22% of the stock is currently owned by institutional investors and hedge funds.
About New York Mortgage Trust
New York Mortgage Trust, Inc is a real estate investment trust. The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. Its investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, multi-family commercial mortgage-backed securities (CMBS), mezzanine loans to and preferred equity investments in owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and commercial real estate-related debt investments, and Agency residential mortgage-backed securities (RMBS).
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