Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating) have received a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $3.71.
Several analysts have recently commented on the stock. Barclays decreased their price target on shares of New York Mortgage Trust from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. TheStreet cut shares of New York Mortgage Trust from a “c-” rating to a “d+” rating in a research note on Wednesday, August 3rd. Credit Suisse Group reduced their price objective on shares of New York Mortgage Trust to $3.50 in a research note on Friday, July 22nd. Jonestrading reduced their price objective on shares of New York Mortgage Trust from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. Finally, Keefe, Bruyette & Woods cut shares of New York Mortgage Trust from an “outperform” rating to a “market perform” rating and set a $3.00 price objective on the stock. in a research note on Monday, July 18th.
Institutional Investors Weigh In On New York Mortgage Trust
Several hedge funds have recently bought and sold shares of NYMT. CWM LLC raised its holdings in New York Mortgage Trust by 92.9% in the first quarter. CWM LLC now owns 7,386 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 3,558 shares during the period. M&T Bank Corp acquired a new stake in shares of New York Mortgage Trust during the second quarter worth $28,000. Retirement Guys Formula LLC acquired a new stake in shares of New York Mortgage Trust during the second quarter worth $32,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of New York Mortgage Trust during the first quarter worth $37,000. Finally, Sciencast Management LP acquired a new stake in shares of New York Mortgage Trust during the first quarter worth $43,000. 54.74% of the stock is currently owned by institutional investors and hedge funds.
New York Mortgage Trust Price Performance
New York Mortgage Trust Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Monday, June 27th were issued a $0.10 dividend. The ex-dividend date was Friday, June 24th. This represents a $0.40 annualized dividend and a yield of 14.04%. New York Mortgage Trust’s dividend payout ratio (DPR) is presently -142.85%.
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, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.
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