American International Group Inc. lowered its position in New York Mortgage Trust, Inc. (NASDAQ:NYMT – Free Report) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,897 shares of the real estate investment trust’s stock after selling 1,627 shares during the quarter. American International Group Inc. owned 0.05% of New York Mortgage Trust worth $485,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in NYMT. Barclays PLC boosted its stake in shares of New York Mortgage Trust by 10.6% during the second quarter. Barclays PLC now owns 53,041 shares of the real estate investment trust’s stock valued at $526,000 after acquiring an additional 5,069 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of New York Mortgage Trust by 15.6% during the second quarter. Van ECK Associates Corp now owns 524,587 shares of the real estate investment trust’s stock valued at $5,204,000 after acquiring an additional 70,770 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of New York Mortgage Trust during the second quarter valued at $184,000. State of New Jersey Common Pension Fund D boosted its stake in shares of New York Mortgage Trust by 16.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 245,223 shares of the real estate investment trust’s stock valued at $2,433,000 after acquiring an additional 34,236 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of New York Mortgage Trust by 9.4% during the second quarter. LPL Financial LLC now owns 11,617 shares of the real estate investment trust’s stock valued at $115,000 after acquiring an additional 997 shares during the last quarter. Hedge funds and other institutional investors own 52.98% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on NYMT shares. StockNews.com lowered New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. B. Riley decreased their price target on New York Mortgage Trust from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, New York Mortgage Trust currently has an average rating of “Hold” and a consensus price target of $12.80.
New York Mortgage Trust Stock Up 2.3 %
Shares of NASDAQ:NYMT opened at $8.57 on Friday. The firm has a market cap of $777.15 million, a price-to-earnings ratio of -4.61 and a beta of 1.86. New York Mortgage Trust, Inc. has a 12-month low of $7.23 and a 12-month high of $12.96. The company has a current ratio of 12.41, a quick ratio of 12.41 and a debt-to-equity ratio of 3.81. The stock’s 50-day moving average price is $8.37 and its two-hundred day moving average price is $9.25.
New York Mortgage Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Stockholders of record on Thursday, September 21st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 14.00%. The ex-dividend date was Wednesday, September 20th. New York Mortgage Trust’s dividend payout ratio is currently -64.52%.
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.
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