New York Mortgage Trust (NASDAQ:NYMT) Stock Rating Reaffirmed by B. Riley

New York Mortgage Trust (NASDAQ:NYMTGet Free Report)‘s stock had its “buy” rating reissued by equities research analysts at B. Riley in a note issued to investors on Monday, Benzinga reports. They currently have a $11.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $15.00. B. Riley’s target price would suggest a potential upside of 59.88% from the company’s previous close.

A number of other equities research analysts also recently issued reports on NYMT. StockNews.com raised New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. UBS Group initiated coverage on New York Mortgage Trust in a research report on Wednesday, December 6th. They set a “neutral” rating and a $8.50 price target for the company.

View Our Latest Report on NYMT

New York Mortgage Trust Stock Performance

New York Mortgage Trust stock opened at $6.88 on Monday. The firm has a market capitalization of $627.73 million, a P/E ratio of -6.95 and a beta of 1.93. The stock has a fifty day moving average price of $7.50 and a 200 day moving average price of $8.16. New York Mortgage Trust has a 52 week low of $6.87 and a 52 week high of $10.63. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 4.21.

Institutional Investors Weigh In On New York Mortgage Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC boosted its position in shares of New York Mortgage Trust by 9.4% in the second quarter. LPL Financial LLC now owns 11,617 shares of the real estate investment trust’s stock worth $115,000 after buying an additional 997 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of New York Mortgage Trust by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 30,060 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 1,615 shares during the period. Belpointe Asset Management LLC boosted its position in shares of New York Mortgage Trust by 71.9% in the first quarter. Belpointe Asset Management LLC now owns 4,095 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,713 shares during the period. Sei Investments Co. boosted its position in shares of New York Mortgage Trust by 3.0% in the fourth quarter. Sei Investments Co. now owns 65,344 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 1,906 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of New York Mortgage Trust by 9.1% in the fourth quarter. SG Americas Securities LLC now owns 23,802 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 1,979 shares during the period. Hedge funds and other institutional investors own 54.89% of the company’s stock.

New York Mortgage Trust Company Profile

(Get Free Report)

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.

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