New York Mortgage Trust, Inc. (NASDAQ:NYMT) Receives Average Analyst Rating of “Hold”
New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating) received an average rating of “Hold” from the seven brokerages that cover the business, Marketbeat reports. Two equity research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The 12-month average price target among brokers who have rated the stock over the past year is $4.25.
A number of brokerages weighed in on NYMT. StockNews.com downgraded the New York Mortgage Trust from a “hold” rating to a “sell” rating in a Tuesday, May 10 research note. Barclays lowered its target price on New York Mortgage Trust from $4.00 to $3.50 in a report on Wednesday April 27. Finally, Bank of America lowered its price target on New York Mortgage Trust from $4.50 to $3.75 and set an “underperform” rating on the stock in a Wednesday, March 9 report.
A number of hedge funds and other institutional investors have recently increased or reduced their holdings in NYMT. CWM LLC increased its stake in New York Mortgage Trust to 92.9% during the first quarter. CWM LLC now owns 7,386 shares of the real estate investment trust worth $27,000 after acquiring 3,558 additional shares in the last quarter. Aaron Wealth Advisors LLC acquired a new equity stake in New York Mortgage Trust in the first quarter valued at approximately $2,696,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of New York Mortgage Trust in the first quarter valued at approximately $37,000. Verdence Capital Advisors LLC acquired a new stake in shares of New York Mortgage Trust in the fourth quarter valued at approximately $44,000. Finally, Camelot Portfolios LLC acquired a new equity stake in New York Mortgage Trust in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors hold 54.25% of the company’s shares.
NYMT stock opened at $2.77 on Friday. The company has a 50-day moving average price of $2.99 and a 200-day moving average price of $3.43. The stock has a market capitalization of $1.06 billion, a price/earnings ratio of 55.40, a PEG ratio of 7.98 and a beta of 1.77. New York Mortgage Trust has a fifty-two week minimum of $2.24 and a fifty-two week maximum of $4.63. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt ratio of 1.73.
New York Mortgage Trust (NASDAQ:NYMT – Get Rating) last released its results on Tuesday, May 3. The real estate investment trust reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.08 per ($0.30). New York Mortgage Trust had a return on equity of 7.42% and a net margin of 31.18%. During the same period a year earlier, the company posted EPS of $0.11. As a group, sell-side analysts expect New York Mortgage Trust to post year-to-date EPS of 0.09.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 25. Shareholders of record on Monday, June 27 will receive a dividend of $0.10. The ex-dividend date is Friday, June 24. This represents an annualized dividend of $0.40 and a dividend yield of 14.44%. New York Mortgage Trust’s dividend payout ratio is currently 800.00%.
About New York Mortgage Trust (Get an evaluation)
New York Mortgage Trust, Inc. acquires, invests, finances and manages single-family and multi-family residential mortgage-related assets in the United States. Its focused investments include residential loans, second mortgages and business loans; structured multifamily real estate investments, such as preferred stock and mezzanine loans to owners of multifamily properties, as well as joint venture equity investments in multifamily properties; residential non-agency mortgage-backed securities (RMBS); Agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgages, residential housing and credit-related assets.
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