New York Mortgage Trust Inc. (NYMT) Coverage Initiated at FBR & Co
Equities researchers at FBR & Co started coverage on shares of New York Mortgage Trust Inc. (NASDAQ:NYMT) in a research report issued on Monday. The brokerage set a “market perform” rating and a $6.25 price target on the stock. FBR & Co’s price objective points to a potential upside of 9.46% from the company’s current price.
Other analysts have also issued research reports about the stock. 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 research note on Tuesday, August 9th. 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 research note on Saturday, August 6th. Zacks Investment Research upgraded shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Credit Suisse Group AG restated a “sell” rating and issued a $5.50 price target on shares of New York Mortgage Trust in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.01.
New York Mortgage Trust (NASDAQ:NYMT) opened at 5.71 on Monday. The firm’s 50-day moving average is $5.99 and its 200-day moving average is $5.81. The stock has a market cap of $625.64 million, a P/E ratio of 12.92 and a beta of 0.99. New York Mortgage Trust has a 12 month low of $3.82 and a 12 month high of $6.68.
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New York Mortgage Trust (NASDAQ:NYMT) last posted its quarterly earnings data 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 previous year, the business posted $0.20 EPS. On average, equities analysts forecast that New York Mortgage Trust will post $0.90 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Monday, September 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 16.81%. The ex-dividend date of this dividend is Thursday, September 22nd. New York Mortgage Trust’s dividend payout ratio is presently 218.19%.
Institutional investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. increased its position in New York Mortgage Trust by 5.2% in the second quarter. Suntrust Banks Inc. now owns 17,115 shares of the company’s stock worth $104,000 after buying an additional 845 shares in the last quarter. Ameriprise Financial Inc. increased its position in New York Mortgage Trust by 3.3% in the second quarter. Ameriprise Financial Inc. now owns 21,504 shares of the company’s stock worth $132,000 after buying an additional 680 shares in the last quarter. Commonwealth Equity Services Inc increased its position in New York Mortgage Trust by 96.1% in the second quarter. Commonwealth Equity Services Inc now owns 26,061 shares of the company’s stock worth $159,000 after buying an additional 12,771 shares in the last quarter. BlackRock Inc. increased its position in New York Mortgage Trust by 380.7% in the second quarter. BlackRock Inc. now owns 36,853 shares of the company’s stock worth $226,000 after buying an additional 29,186 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position in New York Mortgage Trust by 4.1% in the second quarter. BlackRock Advisors LLC now owns 55,572 shares of the company’s stock worth $339,000 after buying an additional 2,193 shares in the last quarter. 28.22% of the stock is owned by hedge funds and other institutional investors.
New York Mortgage Trust Company Profile
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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