New York Mortgage Trust (NASDAQ:NYMT) Shares Gap Down to $9.74

New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating)’s share price gapped down before the market opened on Friday . The stock had previously closed at $9.74, but opened at $9.22. New York Mortgage Trust shares last traded at $9.02, with a volume of 518,311 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NYMT shares. LADENBURG THALM/SH SH downgraded New York Mortgage Trust from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a report on Friday, February 24th. Jonestrading reiterated a “hold” rating on shares of New York Mortgage Trust in a research report on Wednesday, March 1st. StockNews.com cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on New York Mortgage Trust from $2.50 to $10.00 and gave the stock a “market perform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, New York Mortgage Trust presently has a consensus rating of “Hold” and a consensus target price of $13.33.

New York Mortgage Trust Stock Down 4.1 %

The company has a debt-to-equity ratio of 2.36, a current ratio of 9.77 and a quick ratio of 9.77. The company has a market cap of $817.21 million, a P/E ratio of -2.48 and a beta of 1.78. The stock has a 50-day moving average of $11.20 and a 200 day moving average of $10.83.

New York Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Monday, March 20th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 17.90%. The ex-dividend date is Friday, March 17th. New York Mortgage Trust’s payout ratio is currently -44.44%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. CI Private Wealth LLC bought a new position in New York Mortgage Trust in the fourth quarter valued at about $41,000. Virtu Financial LLC bought a new position in New York Mortgage Trust in the fourth quarter valued at about $259,000. Susquehanna Fundamental Investments LLC grew its position in New York Mortgage Trust by 55.4% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 137,345 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 48,945 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in New York Mortgage Trust in the fourth quarter valued at about $55,000. Finally, Squarepoint Ops LLC bought a new position in New York Mortgage Trust in the fourth quarter valued at about $117,000. Institutional investors own 53.62% of the company’s stock.

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.