New York Mortgage Trust (NASDAQ:NYMT) Sets New 12-Month Low Following Weak Earnings

New York Mortgage Trust, Inc. (NASDAQ:NYMT)’s share price reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $5.78 and last traded at $5.91, with a volume of 740315 shares trading hands. The stock had previously closed at $7.02.

The real estate investment trust reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42). The firm had revenue of $83.89 million during the quarter, compared to analysts’ expectations of $19.64 million. New York Mortgage Trust had a negative net margin of 44.65% and a negative return on equity of 2.52%. During the same period in the prior year, the company posted $0.11 earnings per share.

New York Mortgage Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 25th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 12.88%. The ex-dividend date of this dividend was Friday, March 22nd. New York Mortgage Trust’s dividend payout ratio is presently -43.24%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NYMT shares. StockNews.com cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Friday. B. Riley reaffirmed a “buy” rating and issued a $11.00 price target (down from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th. Finally, 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.

Hedge Funds Weigh In On New York Mortgage Trust

Several hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of New York Mortgage Trust by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 833,702 shares of the real estate investment trust’s stock valued at $6,003,000 after purchasing an additional 6,148 shares during the last quarter. Van ECK Associates Corp increased its position in New York Mortgage Trust by 1.3% during the first quarter. Van ECK Associates Corp now owns 578,929 shares of the real estate investment trust’s stock worth $4,168,000 after buying an additional 7,316 shares during the period. EMG Holdings L.P. lifted its stake in 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 valued at $4,742,000 after buying an additional 365,622 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in New York Mortgage Trust in the fourth quarter valued at approximately $201,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of New York Mortgage Trust by 9.5% in the fourth 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 acquiring an additional 132,162 shares during the period. Hedge funds and other institutional investors own 54.89% of the company’s stock.

New York Mortgage Trust Trading Down 0.9 %

The business’s 50-day moving average price is $7.08 and its 200-day moving average price is $7.84. The firm has a market capitalization of $566.54 million, a PE ratio of -3.36 and a beta of 1.91. The company has a debt-to-equity ratio of 4.21, a current ratio of 4.29 and a quick ratio of 4.29.

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.