UBS Group Forecasts Strong Price Appreciation for New York Mortgage Trust (NASDAQ:NYMT) Stock

New York Mortgage Trust (NASDAQ:NYMT) had its target price boosted by equities researchers at UBS Group from $6.50 to $6.75 in a research note issued on Thursday,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 upside of 1.50% from the company’s previous close.

Several other equities analysts have also weighed in on NYMT. Jones Trading restated a “buy” rating and set a $7.50 price objective on shares of New York Mortgage Trust in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, B. Riley raised their price objective on shares of New York Mortgage Trust from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, New York Mortgage Trust has an average rating of “Hold” and a consensus price target of $7.56.

New York Mortgage Trust Stock Down 1.0%

New York Mortgage Trust stock opened at $6.65 on Thursday. The stock has a market cap of $600.50 million, a price-to-earnings ratio of -110.83 and a beta of 1.27. The company has a current ratio of 11.43, a quick ratio of 11.43 and a debt-to-equity ratio of 9.15. The company’s 50-day moving average price is $6.70 and its two-hundred day moving average price is $6.34. New York Mortgage Trust has a 52 week low of $5.02 and a 52 week high of $7.27.

New York Mortgage Trust (NASDAQ:NYMT) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.20 EPS for the quarter, beating the consensus estimate of $0.10 by $0.10. The firm had revenue of $33.10 million for the quarter, compared to analysts’ expectations of $27.84 million. New York Mortgage Trust had a net margin of 8.50% and a return on equity of 2.51%. On average, analysts expect that New York Mortgage Trust will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in shares of New York Mortgage Trust by 191.6% in the fourth quarter. Jane Street Group LLC now owns 479,428 shares of the real estate investment trust’s stock worth $2,905,000 after buying an additional 315,040 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of New York Mortgage Trust in the fourth quarter worth about $116,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of New York Mortgage Trust by 20.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 93,049 shares of the real estate investment trust’s stock worth $564,000 after buying an additional 15,840 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of New York Mortgage Trust by 3.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,772,564 shares of the real estate investment trust’s stock worth $24,484,000 after buying an additional 138,835 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of New York Mortgage Trust in the fourth quarter worth about $126,000. 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.