Several other analysts have also issued reports on the company. BidaskClub lowered New York Mortgage Trust from a buy rating to a hold rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded New York Mortgage Trust from a sell rating to a hold rating in a research note on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods set a $6.00 target price on New York Mortgage Trust and gave the company a hold rating in a research note on Wednesday, May 10th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $6.42.
New York Mortgage Trust (NYMT) opened at 6.25 on Friday. New York Mortgage Trust has a 12 month low of $5.65 and a 12 month high of $7.04. The company has a market cap of $699.32 million, a price-to-earnings ratio of 12.25 and a beta of 1.38. The company’s 50-day moving average is $6.24 and its 200 day moving average is $6.31.
New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.04. The business had revenue of $15.71 million for the quarter, compared to the consensus estimate of $17.42 million. New York Mortgage Trust had a return on equity of 10.05% and a net margin of 19.62%. The business’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. Equities analysts forecast that New York Mortgage Trust will post $0.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 26th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, June 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.80%. New York Mortgage Trust’s payout ratio is 156.87%.
Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in New York Mortgage Trust by 7.7% in the fourth quarter. State Street Corp now owns 2,164,690 shares of the real estate investment trust’s stock worth $14,284,000 after buying an additional 153,943 shares during the last quarter. Teachers Advisors LLC raised its stake in New York Mortgage Trust by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 181,876 shares of the real estate investment trust’s stock worth $1,200,000 after buying an additional 3,806 shares during the last quarter. Prospera Financial Services Inc raised its stake in New York Mortgage Trust by 6.9% in the first quarter. Prospera Financial Services Inc now owns 21,930 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 1,425 shares during the last quarter. WealthTrust Axiom LLC raised its stake in New York Mortgage Trust by 1.9% in the first quarter. WealthTrust Axiom LLC now owns 54,180 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 1,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in New York Mortgage Trust by 8.4% in the first quarter. Wells Fargo & Company MN now owns 102,423 shares of the real estate investment trust’s stock worth $632,000 after buying an additional 7,947 shares during the last quarter. Institutional investors own 36.13% of the company’s stock.
About New York Mortgage Trust
New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.
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