New York Mortgage Trust (NASDAQ:NYMT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of New York Mortgage Trust (NASDAQ:NYMT) from a sell rating to a hold rating in a research report released on Thursday morning.

Separately, Janney Montgomery Scott began coverage on shares of New York Mortgage Trust in a research report on Tuesday, August 13th. They set a neutral rating and a $7.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, New York Mortgage Trust currently has an average rating of Hold and a consensus price target of $7.75.

New York Mortgage Trust Stock Performance

NYMT opened at $6.61 on Thursday. The company has a market cap of $598.73 million, a price-to-earnings ratio of -3.57 and a beta of 1.94. The company’s fifty day moving average price is $6.44 and its two-hundred day moving average price is $6.51. New York Mortgage Trust has a 1-year low of $5.51 and a 1-year high of $9.68. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 6.30.

New York Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.10%. The ex-dividend date of this dividend was Thursday, June 27th. New York Mortgage Trust’s payout ratio is currently -43.24%.

Hedge Funds Weigh In On New York Mortgage Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Waterfall Asset Management LLC bought a new position in New York Mortgage Trust in the second quarter worth about $1,727,000. The Manufacturers Life Insurance Company lifted its stake in shares of New York Mortgage Trust by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,132 shares of the real estate investment trust’s stock valued at $211,000 after purchasing an additional 1,901 shares during the period. AQR Capital Management LLC bought a new stake in shares of New York Mortgage Trust during the second quarter valued at approximately $83,000. Squarepoint Ops LLC purchased a new stake in New York Mortgage Trust in the second quarter worth $136,000. Finally, Evergreen Capital Management LLC purchased a new position in New York Mortgage Trust during the second quarter valued at $83,000. Institutional investors own 54.89% of the company’s stock.

About New York Mortgage Trust

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, including business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgage, residential housing, and credit-related assets.