New York Mortgage Trust (NASDAQ:NYMT) Sets New 12-Month Low Following Weak Earnings

Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) hit a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $5.78 and last traded at $5.91, with a volume of 740315 shares. The stock had previously closed at $7.02.

The real estate investment trust reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.42). The firm had revenue of $83.89 million for the quarter, compared to analysts’ expectations of $19.64 million. New York Mortgage Trust had a negative net margin of 44.65% and a negative return on equity of 2.52%. During the same quarter in the prior year, the business earned $0.11 EPS.

New York Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 25th were given a dividend of $0.20 per share. The ex-dividend date was Friday, March 22nd. This represents a $0.80 annualized dividend and a yield of 12.88%. New York Mortgage Trust’s dividend payout ratio (DPR) is currently -43.24%.

Analysts Set New Price Targets

Several research firms recently commented on NYMT. B. Riley reiterated a “buy” rating and issued a $11.00 price target (down previously from $15.00) on shares of New York Mortgage Trust in a research report on Monday, March 25th. StockNews.com cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Friday. Finally, Keefe, Bruyette & Woods decreased their price target on New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating on the stock in a report on Friday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in shares of New York Mortgage Trust by 9.1% in the 4th 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. EMC Capital Management grew its holdings in New York Mortgage Trust by 31.3% during the 3rd quarter. EMC Capital Management now owns 9,863 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 2,350 shares in the last quarter. New York State Teachers Retirement System increased its position in New York Mortgage Trust by 2.4% during the 3rd quarter. New York State Teachers Retirement System now owns 134,612 shares of the real estate investment trust’s stock valued at $1,143,000 after purchasing an additional 3,100 shares during the period. Yousif Capital Management LLC raised its holdings in shares of New York Mortgage Trust by 11.7% in the 4th quarter. Yousif Capital Management LLC now owns 51,046 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 5,352 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of New York Mortgage Trust by 19.7% in the 4th quarter. New York State Common Retirement Fund now owns 34,025 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 5,594 shares in the last quarter. Institutional investors own 54.89% of the company’s stock.

New York Mortgage Trust Price Performance

The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 4.21. The firm’s 50-day moving average price is $7.08 and its two-hundred day moving average price is $7.84. The stock has a market cap of $566.54 million, a PE ratio of -3.36 and a beta of 1.91.

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.