Principal Financial Group Inc. Has $2.93 Million Stock Position in New York Mortgage Trust, Inc. (NASDAQ:NYMT)

Principal Financial Group Inc. increased its stake in New York Mortgage Trust, Inc. (NASDAQ:NYMT) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 451,094 shares of the real estate investment trust’s stock after purchasing an additional 11,831 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of New York Mortgage Trust worth $2,928,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new position in New York Mortgage Trust in the first quarter valued at about $86,000. New York State Teachers Retirement System grew its position in New York Mortgage Trust by 1.6% in the first quarter. New York State Teachers Retirement System now owns 129,512 shares of the real estate investment trust’s stock valued at $841,000 after acquiring an additional 2,100 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in 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 valued at $24,484,000 after acquiring an additional 138,835 shares during the last quarter. GAMMA Investing LLC grew its position in New York Mortgage Trust by 1,240.0% in the first quarter. GAMMA Investing LLC now owns 19,055 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 17,633 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in New York Mortgage Trust by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,363 shares of the real estate investment trust’s stock valued at $1,099,000 after acquiring an additional 24,849 shares during the last quarter. Institutional investors own 54.89% of the company’s stock.

New York Mortgage Trust Price Performance

Shares of NYMT opened at $6.68 on Friday. New York Mortgage Trust, Inc. has a 52-week low of $5.02 and a 52-week high of $7.27. The company has a debt-to-equity ratio of 9.15, a quick ratio of 11.43 and a current ratio of 11.43. The business’s 50 day moving average price is $6.72 and its two-hundred day moving average price is $6.37. The firm has a market cap of $603.20 million, a PE ratio of -111.33 and a beta of 1.27.

New York Mortgage Trust (NASDAQ:NYMT) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. New York Mortgage Trust had a return on equity of 2.51% and a net margin of 8.50%. The company had revenue of $33.10 million for the quarter, compared to analyst estimates of $27.84 million. On average, equities analysts anticipate that New York Mortgage Trust, Inc. will post 0.51 EPS for the current year.

New York Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 23rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.98%. The ex-dividend date of this dividend is Monday, June 23rd. New York Mortgage Trust’s payout ratio is -1,333.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen upgraded New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Thursday, May 1st. B. Riley lifted their target price on 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. Jones Trading reiterated a “buy” rating and issued a $7.50 target price on shares of New York Mortgage Trust in a research report on Friday, May 2nd. Finally, UBS Group boosted their price target on New York Mortgage Trust from $6.50 to $6.75 and gave the stock a “neutral” rating in a report on Thursday, July 10th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, New York Mortgage Trust currently has a consensus rating of “Hold” and a consensus target price of $7.56.

New York Mortgage Trust 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.