State Board of Administration of Florida Retirement System trimmed its stake in New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating) by 62.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,889 shares of the real estate investment trust’s stock after selling 86,647 shares during the period. State Board of Administration of Florida Retirement System’s holdings in New York Mortgage Trust were worth $143,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. M&T Bank Corp purchased a new position in New York Mortgage Trust during the 2nd quarter valued at about $28,000. Retirement Guys Formula LLC bought a new stake in shares of New York Mortgage Trust in the second quarter worth approximately $32,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of New York Mortgage Trust in the first quarter worth approximately $37,000. Meeder Asset Management Inc. grew its stake in shares of New York Mortgage Trust by 84.4% in the first quarter. Meeder Asset Management Inc. now owns 13,910 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 6,365 shares during the period. Finally, Centaurus Financial Inc. bought a new stake in shares of New York Mortgage Trust in the first quarter worth approximately $66,000. 54.74% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on NYMT shares. Jonestrading cut their target price on shares of New York Mortgage Trust from $4.25 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. B. Riley cut their target price on shares of New York Mortgage Trust from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, October 25th. TheStreet lowered shares of New York Mortgage Trust from a “c-” rating to a “d+” rating in a research report on Wednesday, August 3rd. Credit Suisse Group cut their target price on shares of New York Mortgage Trust to $3.00 in a research report on Thursday, October 13th. Finally, StockNews.com upgraded shares of New York Mortgage Trust to a “sell” rating in a research report on Friday, November 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.82.
New York Mortgage Trust Price Performance
New York Mortgage Trust Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Stockholders of record on Monday, September 26th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 14.44%. The ex-dividend date of this dividend was Friday, September 23rd. New York Mortgage Trust’s dividend payout ratio (DPR) is presently -56.34%.
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, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.
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