New York Mortgage Trust (NASDAQ:NYMT) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of New York Mortgage Trust (NASDAQ:NYMT) from a hold rating to a sell rating in a research report report published on Friday.

A number of other equities research analysts also recently commented on the company. B. Riley reiterated a buy rating and issued a $11.00 target price (down from $15.00) on shares of New York Mortgage Trust in a research report on Monday, March 25th. Keefe, Bruyette & Woods dropped their price objective on New York Mortgage Trust from $8.50 to $7.00 and set a market perform rating for the company in a report on Friday.

New York Mortgage Trust Trading Down 1.0 %

Shares of NYMT stock opened at $6.15 on Friday. The company has a debt-to-equity ratio of 5.03, a current ratio of 4.02 and a quick ratio of 4.29. The company has a market cap of $561.06 million, a price-to-earnings ratio of -3.32 and a beta of 1.91. New York Mortgage Trust has a 1 year low of $5.78 and a 1 year high of $10.63. The firm has a fifty day moving average price of $7.06 and a 200-day moving average price of $7.82.

New York Mortgage Trust (NASDAQ:NYMT) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.42). New York Mortgage Trust had a negative net margin of 44.65% and a negative return on equity of 2.60%. The company had revenue of $83.89 million for the quarter, compared to the consensus estimate of $19.64 million. During the same period in the prior year, the firm posted $0.11 EPS. As a group, equities analysts predict that New York Mortgage Trust will post 0.55 earnings per share for the current year.

New York Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, March 25th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.01%. The ex-dividend date was Friday, March 22nd. New York Mortgage Trust’s payout ratio is currently -43.24%.

Institutional Investors Weigh In On New York Mortgage Trust

Institutional investors have recently bought and sold shares of the company. EMC Capital Management increased its position 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 valued at $84,000 after buying an additional 2,350 shares in the last quarter. HBK Sorce Advisory LLC purchased a new position in shares of New York Mortgage Trust in the third quarter worth $103,000. Kestra Private Wealth Services LLC acquired a new stake in shares of New York Mortgage Trust during the fourth quarter worth $115,000. SG Americas Securities LLC acquired a new stake in shares of New York Mortgage Trust during the third quarter worth $185,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of New York Mortgage Trust during the fourth quarter valued at $201,000. 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.