New York Mortgage Trust, Inc. (NYMT) Short Interest Up 11.1% in September
New York Mortgage Trust, Inc. (NASDAQ:NYMT) saw a large increase in short interest in the month of September. As of September 29th, there was short interest totalling 11,792,111 shares, an increase of 11.1% from the September 15th total of 10,612,489 shares. Approximately 10.7% of the shares of the stock are sold short. Based on an average trading volume of 987,043 shares, the short-interest ratio is currently 11.9 days.
A number of equities research analysts have recently issued reports on NYMT shares. Zacks Investment Research upgraded shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub upgraded shares of New York Mortgage Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. TheStreet downgraded shares of New York Mortgage Trust from a “c” rating to a “d+” rating in a research report on Friday, August 4th. Keefe, Bruyette & Woods set a $6.00 price target on shares of New York Mortgage Trust and gave the company a “hold” rating in a research report on Monday, August 14th. Finally, Barclays PLC lifted their price target on shares of New York Mortgage Trust from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.33.
Hedge funds have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC lifted its stake in New York Mortgage Trust by 20.2% during the second quarter. Great Lakes Advisors LLC now owns 231,588 shares of the real estate investment trust’s stock valued at $1,440,000 after purchasing an additional 38,957 shares during the last quarter. Menta Capital LLC acquired a new stake in New York Mortgage Trust during the first quarter valued at approximately $560,000. Wells Fargo & Company MN lifted its stake in New York Mortgage Trust by 8.4% during the first quarter. Wells Fargo & Company MN now owns 102,423 shares of the real estate investment trust’s stock valued at $632,000 after purchasing an additional 7,947 shares during the last quarter. Caxton Associates LP acquired a new stake in New York Mortgage Trust during the first quarter valued at approximately $434,000. Finally, Bank of New York Mellon Corp lifted its stake in New York Mortgage Trust by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 555,126 shares of the real estate investment trust’s stock valued at $3,452,000 after purchasing an additional 19,728 shares during the last quarter. 36.11% of the stock is owned by institutional investors and hedge funds.
Shares of New York Mortgage Trust (NASDAQ NYMT) opened at 6.23 on Thursday. New York Mortgage Trust has a 52-week low of $5.72 and a 52-week high of $7.04. The stock’s 50 day moving average is $6.25 and its 200-day moving average is $6.27. The firm has a market capitalization of $697.08 million, a P/E ratio of 12.22 and a beta of 1.37.
New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $15.71 million during the quarter, compared to analyst estimates of $17.42 million. New York Mortgage Trust had a return on equity of 10.05% and a net margin of 19.62%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share. On average, equities analysts forecast that New York Mortgage Trust will post $0.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.84%. The ex-dividend date is Friday, September 22nd. New York Mortgage Trust’s dividend payout ratio is currently 156.87%.
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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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