New York Mortgage Trust (NASDAQ:NYMT) Price Target Cut to $6.00 by Analysts at UBS Group

New York Mortgage Trust (NASDAQ:NYMT) had its target price cut by UBS Group from $7.50 to $6.00 in a report released on Wednesday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

NYMT has been the topic of several other research reports. Keefe, Bruyette & Woods dropped their price objective on shares of New York Mortgage Trust from $8.50 to $7.00 and set a market perform rating on the stock in a research note on Friday, May 3rd. B. Riley reiterated a buy rating and set a $11.00 price target (down from $15.00) on shares of New York Mortgage Trust in a research report on Monday, March 25th. Finally, StockNews.com lowered New York Mortgage Trust from a hold rating to a sell rating in a research report on Friday, May 3rd.

New York Mortgage Trust Price Performance

Shares of NYMT opened at $6.02 on Wednesday. New York Mortgage Trust has a 52 week low of $5.78 and a 52 week high of $10.63. The company has a current ratio of 4.02, a quick ratio of 4.29 and a debt-to-equity ratio of 5.03. The firm has a market cap of $549.19 million, a price-to-earnings ratio of -3.25 and a beta of 1.91. The stock has a 50 day moving average of $7.00 and a 200-day moving average of $7.78.

New York Mortgage Trust (NASDAQ:NYMT) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42). New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. The business had revenue of $83.89 million during the quarter, compared to analyst estimates of $19.64 million. During the same period in the prior year, the firm earned $0.11 EPS. As a group, analysts forecast that New York Mortgage Trust will post 0.55 EPS for the current year.

New York Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, March 25th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $0.80 annualized dividend and a dividend yield of 13.29%. New York Mortgage Trust’s dividend payout ratio is presently -43.24%.

Institutional Trading of New York Mortgage Trust

Several large investors have recently added to or reduced their stakes in NYMT. EMC Capital Management grew its stake in shares of New York Mortgage Trust by 31.3% in the third quarter. EMC Capital Management now owns 9,863 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 2,350 shares in the last quarter. HBK Sorce Advisory LLC acquired a new position in New York Mortgage Trust during the 3rd quarter valued at about $103,000. Kestra Private Wealth Services LLC acquired a new position in New York Mortgage Trust during the 4th quarter valued at about $115,000. SG Americas Securities LLC bought a new stake in shares of New York Mortgage Trust during the 3rd quarter worth about $185,000. Finally, Teacher Retirement System of Texas bought a new position in shares of New York Mortgage Trust in the fourth quarter valued at approximately $201,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

New York Mortgage Trust Company Profile

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.