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

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

Several other equities analysts also recently issued reports on NYMT. Keefe, Bruyette & Woods cut their price objective on shares of New York Mortgage Trust from $8.50 to $7.00 and set a market perform rating on the stock in a report on Friday. B. Riley restated 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.

New York Mortgage Trust Stock Performance

NYMT stock opened at $6.15 on Friday. The company has a debt-to-equity ratio of 5.03, a quick ratio of 4.29 and a current ratio of 4.02. The firm has a market cap of $561.06 million, a price-to-earnings ratio of -3.32 and a beta of 1.91. The firm has a 50-day simple moving average of $7.06 and a two-hundred day simple moving average of $7.82. New York Mortgage Trust has a one year low of $5.78 and a one year high of $10.63.

New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.30) 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 business had revenue of $83.89 million for the quarter, compared to analysts’ expectations of $19.64 million. During the same quarter in the prior year, the company posted $0.11 EPS. On average, equities analysts forecast that New York Mortgage Trust will post 0.55 EPS for the current fiscal year.

New York Mortgage Trust Dividend Announcement

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

Hedge Funds Weigh In On New York Mortgage Trust

Several hedge funds and other institutional investors have recently bought and sold shares of NYMT. EMG Holdings L.P. increased its stake in shares of New York Mortgage Trust by 192.1% in the fourth quarter. EMG Holdings L.P. now owns 555,930 shares of the real estate investment trust’s stock worth $4,742,000 after acquiring an additional 365,622 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of New York Mortgage Trust by 9.5% during 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 buying an additional 132,162 shares during the last quarter. Wolverine Asset Management LLC boosted its stake in shares of New York Mortgage Trust by 7.0% in the third quarter. Wolverine Asset Management LLC now owns 975,993 shares of the real estate investment trust’s stock worth $8,286,000 after buying an additional 63,504 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of New York Mortgage Trust during the 3rd quarter worth approximately $466,000. Finally, Louisiana State Employees Retirement System purchased a new position in New York Mortgage Trust in the fourth quarter valued at $387,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

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.