New York Mortgage Trust (NASDAQ:NYMT) Price Target Lowered to $2.50 at Keefe, Bruyette & Woods

New York Mortgage Trust (NASDAQ:NYMT – Get Rating) had its price target cut by analysts at Keefe, Bruyette & Woods to $2.50 in a research report issued on Wednesday, March 8th, Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 74.33% from the stock’s previous close.

A number of other equities research analysts have also recently commented on NYMT. StockNews.com cut shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 4th. LADENBURG THALM/SH SH downgraded New York Mortgage Trust from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Friday, February 24th. Finally, Jonestrading restated a “hold” rating on shares of New York Mortgage Trust in a research report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.08.

New York Mortgage Trust Stock Performance

Shares of NYMT stock traded up $0.59 on Wednesday, hitting $9.74. The company’s stock had a trading volume of 1,617,785 shares, compared to its average volume of 620,014. The stock’s 50 day moving average is $11.25 and its 200-day moving average is $10.86. New York Mortgage Trust has a fifty-two week low of $8.28 and a fifty-two week high of $14.96. The company has a debt-to-equity ratio of 2.36, a quick ratio of 9.77 and a current ratio of 9.77. The company has a market capitalization of $890.33 million, a PE ratio of -2.70 and a beta of 1.78.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Eaton Vance Management boosted its holdings in New York Mortgage Trust by 18.9% during the 1st quarter. Eaton Vance Management now owns 21,272 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 3,388 shares during the period. Rhumbline Advisers raised its position in shares of New York Mortgage Trust by 0.3% during the 1st quarter. Rhumbline Advisers now owns 1,101,292 shares of the real estate investment trust’s stock worth $4,020,000 after acquiring an additional 3,657 shares in the last quarter. Catalyst Capital Advisors LLC raised its position in shares of New York Mortgage Trust by 16.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 27,890 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 4,020 shares in the last quarter. Cetera Advisor Networks LLC raised its position in shares of New York Mortgage Trust by 15.8% during the 4th quarter. Cetera Advisor Networks LLC now owns 31,056 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 4,231 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of New York Mortgage Trust by 20.8% during the 2nd quarter. Mackenzie Financial Corp now owns 28,680 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 4,929 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors and hedge funds.

New York Mortgage Trust Company Profile

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New York Mortgage Trust, Inc is a real estate investment trust, which engages in the acquisition, investment, finance, and management of mortgage-related single-family and multi-family residential assets. Its investment portfolio includes credit sensitive single-family and multi-family assets. The company was founded on September 26, 2003 and is headquartered in New York, NY.