New York Mortgage Trust, Inc. (NASDAQ:NYMT) Receives Consensus Recommendation of “Hold” from Brokerages
New York Mortgage Trust, Inc. (NASDAQ:NYMT) has received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $6.13.
NYMT has been the topic of several research analyst reports. Ladenburg Thalmann Financial Services cut New York Mortgage Trust from a “buy” rating to a “neutral” rating in a research note on Friday, March 24th. Zacks Investment Research cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 6th. Finally, Keefe, Bruyette & Woods set a $6.00 target price on New York Mortgage Trust and gave the company a “hold” rating in a research note on Wednesday, May 10th.
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New York Mortgage Trust (NYMT) opened at 6.25 on Friday. The firm’s 50 day moving average price is $6.30 and its 200-day moving average price is $6.41. New York Mortgage Trust has a 12-month low of $5.65 and a 12-month high of $7.04. The company has a market capitalization of $699.02 million, a PE ratio of 12.16 and a beta of 1.38.
New York Mortgage Trust (NASDAQ:NYMT) last posted its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. New York Mortgage Trust had a net margin of 20.53% and a return on equity of 9.98%. The business had revenue of $13.92 million for the quarter, compared to analysts’ expectations of $19.49 million. During the same period last year, the firm posted $0.13 earnings per share. On average, equities analysts anticipate that New York Mortgage Trust will post $0.60 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Monday, June 26th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, June 22nd. This represents a $0.80 annualized dividend and a dividend yield of 12.80%. New York Mortgage Trust’s dividend payout ratio (DPR) is presently 156.86%.
Several institutional investors have recently bought and sold shares of NYMT. Van ECK Associates Corp boosted its stake in shares of New York Mortgage Trust by 12.1% in the first quarter. Van ECK Associates Corp now owns 482,326 shares of the real estate investment trust’s stock valued at $2,976,000 after buying an additional 52,119 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of New York Mortgage Trust during the fourth quarter valued at $2,060,000. Menta Capital LLC purchased a new stake in shares of New York Mortgage Trust during the first quarter valued at $560,000. State Street Corp boosted its stake in shares of New York Mortgage Trust by 7.7% in the fourth quarter. State Street Corp now owns 2,164,690 shares of the real estate investment trust’s stock valued at $14,284,000 after buying an additional 153,943 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of New York Mortgage Trust by 11.3% in the first quarter. LSV Asset Management now owns 3,457,511 shares of the real estate investment trust’s stock valued at $21,332,000 after buying an additional 349,811 shares during the last quarter. 36.07% of the stock is currently 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 (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.
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