B. Riley Has Lowered Expectations for New York Mortgage Trust (NASDAQ:NYMT) Stock Price

New York Mortgage Trust (NASDAQ:NYMT) had its price target lowered by analysts at B. Riley from $11.00 to $8.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s target price indicates a potential upside of 27.80% from the company’s previous close.

Separately, StockNews.com lowered shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.

New York Mortgage Trust Stock Performance

NASDAQ NYMT opened at $6.26 on Tuesday. The company has a current ratio of 8.25, a quick ratio of 8.25 and a debt-to-equity ratio of 7.24. The firm’s fifty day moving average price is $6.03 and its two-hundred day moving average price is $6.16. New York Mortgage Trust has a 1 year low of $5.14 and a 1 year high of $8.61. The firm has a market capitalization of $567.02 million, a P/E ratio of -18.97 and a beta of 1.92.

Institutional Investors Weigh In On New York Mortgage Trust

Large investors have recently bought and sold shares of the company. Waterfall Asset Management LLC acquired a new stake in New York Mortgage Trust during the second quarter worth about $1,727,000. Geode Capital Management LLC grew its stake in New York Mortgage Trust by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,261,614 shares of the real estate investment trust’s stock worth $14,320,000 after buying an additional 10,017 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in New York Mortgage Trust during the second quarter worth about $630,000. Intech Investment Management LLC lifted its holdings in shares of New York Mortgage Trust by 91.5% in the third quarter. Intech Investment Management LLC now owns 40,113 shares of the real estate investment trust’s stock worth $254,000 after acquiring an additional 19,165 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of New York Mortgage Trust by 17.5% in the third quarter. Jane Street Group LLC now owns 164,388 shares of the real estate investment trust’s stock worth $1,041,000 after acquiring an additional 24,430 shares during the last quarter. 54.89% of the stock is currently owned by institutional investors and hedge funds.

New York Mortgage Trust Company Profile

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.