New York Mortgage Trust (NASDAQ:NYMT) upgraded on StockNews.com

New York Mortgage Trust (NASDAQ:NYMT – Get Note) was upgraded by StockNews.com equity researchers to a “sell” rating in a note released Monday to investors.

A number of other brokerages also weighed in on NYMT. Keefe, Bruyette & Woods downgraded New York Mortgage Trust from an “outperform” rating to a “market performer” rating and set a price target of $3.00 for the stock. in a Monday July 18 research note. TheStreet downgraded New York Mortgage Trust from a “c-” rating to a “d+” rating in a Wednesday, August 3 report. Barclays cut 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. Credit Suisse Group lowered its price target on the New York Mortgage Trust to $3.50 in a report released Friday, July 22. Finally, Jonestrading reduced 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. Two equity research analysts gave the stock a sell rating, two gave the company a hold rating and two gave the company a buy rating. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.71.

New York mortgage trust shares down 8.4%

NYMT shares were down $0.20 during Monday trading hours, hitting $2.17. 10,277,432 shares of the company were traded, with an average volume of 3,550,925. New York Mortgage Trust has a 1-year low of $2.16 and a 1-year high of $4.50. The stock has a market capitalization of $827.31 million, a PE ratio of -7.75 and a beta of 1.71. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt ratio of 2.30. The stock’s fifty-day moving average price is $2.88 and its two-hundred-day moving average price is $3.04.

Institutional entries and exits

Major investors have recently been buying and selling stocks. Gotham Asset Management LLC purchased a new stake in shares of New York Mortgage Trust in the fourth quarter valued at approximately $77,000. Victory Capital Management Inc. increased its position in New York Mortgage Trust shares by 67.0% in the first quarter. Victory Capital Management Inc. now owns 91,583 shares of the real estate investment trust worth $295,000 after buying 36,739 additional shares in the last quarter. Condor Capital Management increased its position in New York Mortgage Trust shares by 49.7% in the first quarter. Condor Capital Management now owns 394,010 shares of the real estate investment trust worth $1,438,000 after buying an additional 130,724 shares last quarter. Veriti Management LLC increased 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 valued at $74,000 after buying 9,037 additional shares last quarter. Finally, Profund Advisors LLC increased its position in New York Mortgage Trust shares by 24.2% in the first quarter. Profund Advisors LLC now owns 52,624 shares of the real estate investment trust worth $192,000 after purchasing an additional 10,241 shares in the last quarter. 54.74% of the shares are held by institutional investors and hedge funds.

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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Analyst Recommendations for New York Mortgage Trust (NASDAQ: NYMT)

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