New York Mortgage Trust (NASDAQ:NYMT) Stock Rating Upgraded by StockNews.com

New York Mortgage Trust (NASDAQ:NYMT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, B. Riley dropped their price target on New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.00.

New York Mortgage Trust Trading Down 2.1 %

NASDAQ NYMT opened at $6.86 on Friday. The firm has a market capitalization of $621.29 million, a PE ratio of -6.02 and a beta of 1.92. The stock’s 50 day moving average is $6.13 and its 200 day moving average is $6.12. New York Mortgage Trust has a twelve month low of $5.14 and a twelve month high of $7.40. The company has a quick ratio of 8.25, a current ratio of 11.17 and a debt-to-equity ratio of 8.33.

New York Mortgage Trust (NASDAQ:NYMT) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.47). The business had revenue of $26.71 million for the quarter, compared to the consensus estimate of $20.06 million. New York Mortgage Trust had a negative net margin of 15.46% and a negative return on equity of 1.39%. Research analysts forecast that New York Mortgage Trust will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New York Mortgage Trust

A number of institutional investors have recently made changes to their positions in the company. First Trust Direct Indexing L.P. lifted its position in New York Mortgage Trust by 22.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 23,631 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 4,376 shares in the last quarter. Entropy Technologies LP increased its holdings in New York Mortgage Trust by 53.9% in the 3rd quarter. Entropy Technologies LP now owns 19,127 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 6,700 shares in the last quarter. Intech Investment Management LLC increased its holdings in New York Mortgage Trust by 91.5% in the 3rd quarter. Intech Investment Management LLC now owns 40,113 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 19,165 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in New York Mortgage Trust by 16.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 156,514 shares of the real estate investment trust’s stock worth $991,000 after buying an additional 21,676 shares during the last quarter. Finally, State Street Corp lifted its stake in New York Mortgage Trust by 1.6% during the 3rd quarter. State Street Corp now owns 3,495,306 shares of the real estate investment trust’s stock valued at $22,820,000 after acquiring an additional 54,597 shares during the period. Hedge funds and other institutional investors own 54.89% of the company’s stock.

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.