Corebridge Financial Inc. Sells 3,771 Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT)

Corebridge Financial Inc. lessened its holdings in New York Mortgage Trust, Inc. (NASDAQ:NYMT) by 7.2% during the fourth quarter, HoldingsChannel reports. The firm owned 48,311 shares of the real estate investment trust’s stock after selling 3,771 shares during the quarter. Corebridge Financial Inc.’s holdings in New York Mortgage Trust were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NYMT. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in New York Mortgage Trust in the fourth quarter valued at about $49,000. McIlrath & Eck LLC bought a new position in shares of New York Mortgage Trust in the third quarter worth about $62,000. KLP Kapitalforvaltning AS acquired a new stake in shares of New York Mortgage Trust in the 4th quarter valued at approximately $98,000. Wolverine Trading LLC bought a new stake in shares of New York Mortgage Trust during the 3rd quarter valued at approximately $101,000. Finally, Proficio Capital Partners LLC acquired a new position in New York Mortgage Trust during the 4th quarter worth approximately $126,000. Institutional investors own 54.89% of the company’s stock.

New York Mortgage Trust Trading Down 6.0 %

NASDAQ NYMT opened at $5.32 on Friday. The firm has a market capitalization of $481.82 million, a PE ratio of -4.67 and a beta of 1.43. The business’s 50-day moving average price is $6.41 and its two-hundred day moving average price is $6.10. The company has a current ratio of 11.17, a quick ratio of 8.25 and a debt-to-equity ratio of 8.33. New York Mortgage Trust, Inc. has a 12 month low of $5.02 and a 12 month high of $7.25.

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 the consensus estimate of $0.03 by ($0.47). New York Mortgage Trust had a negative net margin of 15.46% and a negative return on equity of 1.39%. The company had revenue of $26.71 million during the quarter, compared to the consensus estimate of $20.06 million. On average, analysts expect 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 Monday, April 28th. Investors of record on Monday, March 31st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 15.04%. The ex-dividend date of this dividend is Monday, March 31st. New York Mortgage Trust’s dividend payout ratio is presently -70.18%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. B. Riley cut their target price on shares of 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. StockNews.com upgraded New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Sunday, March 2nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.

New York Mortgage Trust Company 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.