New York Mortgage Trust (NASDAQ:NYMT) PT lowered to $3.00 at Credit Suisse Group

New York Mortgage Trust (NASDAQ:NYMT – Get Note) had its target price lowered by Credit Suisse Group equity researchers to $3.00 in a research note released Thursday, Stock Target Advisor reports. Credit Suisse Group’s price target would indicate a potential upside of 21.46% from the current share price.

A number of other research companies have also published NYMT reports recently. Jonestrading cut its price target on New York Mortgage Trust from $4.25 to $4.00 and set a “buy” rating for the company in a Thursday, August 4 report. Barclays lowered its price target on New York Mortgage Trust from $3.50 to $3.00 and set an “equal weight” rating for the company in a Monday, July 18 report. StockNews.com upgraded New York Mortgage Trust to a “sell” rating in a Monday, September 26 report. Keefe, Bruyette & Woods downgraded New York Mortgage Trust from an “outperform” rating to a “market performance” rating and set a target price of $3.00 for the company. in a report on Monday July 18. Finally, TheStreet upgraded the New York Mortgage Trust from a “c-” rating to a “d+” rating in a Wednesday, August 3 report. Two research analysts have assigned the stock a sell rating, two have assigned a hold rating and two have assigned the stock a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.63.

New York Mortgage Trust Price Performance

NYMT shares traded down $0.05 at midday Thursday, hitting $2.47. The stock recorded a trading volume of 223,866 shares, compared to an average volume of 5,739,853 shares. The company’s 50-day moving average is $2.72 and its 200-day moving average is $2.93. New York Mortgage Trust has a 12-month low of $2.07 and a 12-month high of $4.50. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt ratio of 2.30. The company has a market capitalization of $941.69 million, a price-earnings ratio of -8.79 and a beta of 1.69.

Institutional entries and exits

A number of hedge funds and other institutional investors have been buying and selling NYMT shares recently. Maryland State Retirement & Pension System raised its position in New York Mortgage Trust by 2.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 153,417 shares of the real estate investment trust worth $560,000 after purchasing 2,968 additional shares in the last quarter. Veriti Management LLC raised its position in New York Mortgage Trust shares by 79.6% in the first quarter. Veriti Management LLC now owns 20,393 shares of the real estate investment trust worth $74,000 after acquiring 9,037 additional shares in the last quarter. Selective Wealth Management Inc. bought a new stock position in New York Mortgage Trust in Q1 for a value of approximately $107,000. GPS Wealth Strategies Group LLC bought a new stock position in New York Mortgage Trust in Q1 for about $51,000. Finally, CWM LLC increased its position in New York Mortgage Trust shares by 92.9% in the 1st 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. Institutional investors hold 54.74% of the company’s shares.

About New York Mortgage Trust

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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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