Zacks Investment Research cut shares of New York Mortgage Trust (NASDAQ:NYMT) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
According to Zacks, “New York Mortgage Trust is a real estate investment trust focused on owning and managing a leveraged portfolio of residential mortgage securities and a mortgage origination business. The mortgage portfolio is comprised largely of prime adjustable-rate and hybrid mortgage loans and securities, much of which, over time will be originated by NYMT’s wholly owned mortgage origination business, The New York Mortgage Company, a taxable real estate investment trust subsidiary. “
Other equities analysts have also issued reports about the company. Barclays upped their target price on New York Mortgage Trust from $5.00 to $6.00 and gave the company an equal weight rating in a report on Tuesday, October 10th. B. Riley reaffirmed a neutral rating and issued a $6.25 target price on shares of New York Mortgage Trust in a report on Tuesday, November 7th. Maxim Group reaffirmed a buy rating and issued a $6.50 target price on shares of New York Mortgage Trust in a report on Monday, November 6th. TheStreet raised New York Mortgage Trust from a d+ rating to a c rating in a report on Thursday, November 2nd. Finally, BidaskClub lowered New York Mortgage Trust from a sell rating to a strong sell rating in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $6.35.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Monday, December 18th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 13.11%. The ex-dividend date of this dividend is Friday, December 15th. New York Mortgage Trust’s dividend payout ratio (DPR) is 160.00%.
A number of hedge funds and other institutional investors have recently made changes to their positions in NYMT. SG Americas Securities LLC bought a new position in New York Mortgage Trust during the third quarter valued at $115,000. BNP Paribas Arbitrage SA grew its holdings in New York Mortgage Trust by 183.4% during the second quarter. BNP Paribas Arbitrage SA now owns 21,139 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 13,679 shares during the period. ETRADE Capital Management LLC grew its holdings in New York Mortgage Trust by 4.2% during the second quarter. ETRADE Capital Management LLC now owns 21,127 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 851 shares during the period. Sei Investments Co. grew its holdings in New York Mortgage Trust by 50.4% during the second quarter. Sei Investments Co. now owns 23,931 shares of the real estate investment trust’s stock valued at $149,000 after purchasing an additional 8,018 shares during the period. Finally, Cetera Investment Advisers bought a new position in New York Mortgage Trust during the second quarter valued at $160,000. 37.80% of the stock is owned by institutional investors and hedge funds.
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New York Mortgage Trust Company Profile
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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