UBS Group Cuts New York Mortgage Trust (NASDAQ:NYMT) Price Target to $6.00

New York Mortgage Trust (NASDAQ:NYMT) had its price target decreased by analysts at UBS Group from $7.50 to $6.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s target price indicates a potential downside of 2.91% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods dropped their target price 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, May 3rd. Finally, 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 note on Monday, March 25th.

New York Mortgage Trust Price Performance

NASDAQ:NYMT opened at $6.18 on Wednesday. New York Mortgage Trust has a 52-week low of $5.78 and a 52-week high of $10.63. The company has a market cap of $563.79 million, a P/E ratio of -3.34 and a beta of 1.91. 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 stock’s 50-day simple moving average is $6.98 and its 200 day simple moving average is $7.77.

New York Mortgage Trust (NASDAQ:NYMT) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $83.89 million for the quarter, compared to analyst estimates of $19.64 million. During the same period last year, the firm earned $0.11 EPS. As a group, sell-side analysts forecast that New York Mortgage Trust will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On New York Mortgage Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. EMC Capital Management lifted its stake in shares of 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 worth $84,000 after buying an additional 2,350 shares during the last quarter. HBK Sorce Advisory LLC bought a new position in New York Mortgage Trust in the 3rd quarter valued at about $103,000. Kestra Private Wealth Services LLC acquired a new stake in New York Mortgage Trust during the fourth quarter worth approximately $115,000. SG Americas Securities LLC bought a new stake in shares of New York Mortgage Trust during the third quarter worth approximately $185,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of New York Mortgage Trust in the fourth quarter valued at approximately $201,000. 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.