B. Riley Reiterates “Buy” Rating for New York Mortgage Trust (NASDAQ:NYMT)

B. Riley reiterated their buy rating on shares of New York Mortgage Trust (NASDAQ:NYMT) in a research note published on Monday, Benzinga reports. B. Riley currently has a $11.00 price target on the real estate investment trust’s stock, down from their prior price target of $15.00.

Several other equities analysts have also issued reports on the stock. UBS Group started coverage on shares of New York Mortgage Trust in a report on Wednesday, December 6th. They set a neutral rating and a $8.50 price objective on the stock. StockNews.com raised New York Mortgage Trust from a sell rating to a hold rating in a research report on Thursday, February 22nd.

New York Mortgage Trust Stock Performance

Shares of NYMT stock opened at $7.13 on Monday. The firm has a market cap of $650.54 million, a price-to-earnings ratio of -7.20 and a beta of 1.93. The company’s 50 day moving average is $7.48 and its 200 day moving average is $8.15. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 4.21. New York Mortgage Trust has a 52-week low of $6.87 and a 52-week high of $10.63.

New York Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, March 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.22%. The ex-dividend date is Friday, March 22nd. New York Mortgage Trust’s payout ratio is presently -80.81%.

Hedge Funds Weigh In On New York Mortgage Trust

Large investors have recently made changes to their positions in the business. Centiva Capital LP acquired a new position in shares of New York Mortgage Trust during the fourth quarter worth $35,000. Envestnet Asset Management Inc. acquired a new position in shares of New York Mortgage Trust during the third quarter worth $36,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of New York Mortgage Trust during the first quarter worth $37,000. Belpointe Asset Management LLC grew its holdings in shares of New York Mortgage Trust by 71.9% during the first quarter. Belpointe Asset Management LLC now owns 4,095 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,713 shares during the last quarter. Finally, CI Private Wealth LLC purchased a new stake in shares of New York Mortgage Trust during the fourth quarter valued at $41,000. 54.89% of the stock is owned by institutional investors and hedge funds.

About New York Mortgage Trust

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.