New York Mortgage Trust (NASDAQ:NYMT) PT Lowered to $7.00

New York Mortgage Trust (NASDAQ:NYMT) had its price objective trimmed by Keefe, Bruyette & Woods from $8.50 to $7.00 in a report published on Friday morning, Benzinga reports. The firm currently has a market perform rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on the company. B. Riley reissued a buy rating and set a $11.00 price target (down previously from $15.00) on shares of New York Mortgage Trust in a research note on Monday, March 25th. StockNews.com raised New York Mortgage Trust from a sell rating to a hold rating in a research report on Thursday, February 22nd.

New York Mortgage Trust Trading Down 1.0 %

Shares of New York Mortgage Trust stock opened at $6.15 on Friday. New York Mortgage Trust has a fifty-two week low of $5.78 and a fifty-two week high of $10.63. The business’s fifty day moving average is $7.04 and its two-hundred day moving average is $7.80. The company has a debt-to-equity ratio of 5.03, a current ratio of 4.02 and a quick ratio of 4.29.

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

New York Mortgage Trust Dividend Announcement

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

Institutional Trading of New York Mortgage Trust

Several large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in New York Mortgage Trust by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 833,702 shares of the real estate investment trust’s stock valued at $6,003,000 after purchasing an additional 6,148 shares in the last quarter. Van ECK Associates Corp increased its holdings in New York Mortgage Trust by 1.3% in the 1st quarter. Van ECK Associates Corp now owns 578,929 shares of the real estate investment trust’s stock valued at $4,168,000 after purchasing an additional 7,316 shares in the last quarter. EMG Holdings L.P. increased its holdings in New York Mortgage Trust by 192.1% in the 4th quarter. EMG Holdings L.P. now owns 555,930 shares of the real estate investment trust’s stock valued at $4,742,000 after purchasing an additional 365,622 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in New York Mortgage Trust in the 4th quarter valued at $201,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in New York Mortgage Trust by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock valued at $13,032,000 after purchasing an additional 132,162 shares in the last quarter. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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.