New York Mortgage Trust (NASDAQ:NYMT) Cut to “Sell” at StockNews.com

StockNews.com cut shares of New York Mortgage Trust (NASDAQ:NYMT) from a hold rating to a sell rating in a research note released on Friday.

Separately, Janney Montgomery Scott started coverage on New York Mortgage Trust in a research report on Tuesday, August 13th. They set a neutral rating and a $7.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $7.75.

New York Mortgage Trust Stock Performance

NASDAQ NYMT opened at $6.64 on Friday. The company has a debt-to-equity ratio of 6.30, a quick ratio of 6.46 and a current ratio of 6.46. The company has a market capitalization of $605.75 million, a PE ratio of -3.59 and a beta of 1.94. New York Mortgage Trust has a 52-week low of $5.51 and a 52-week high of $9.67. The company has a 50-day simple moving average of $6.50 and a 200 day simple moving average of $6.50.

New York Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 12.05%. New York Mortgage Trust’s dividend payout ratio is currently -43.24%.

Hedge Funds Weigh In On New York Mortgage Trust

Several hedge funds have recently made changes to their positions in the stock. EMG Holdings L.P. increased its position in shares of New York Mortgage Trust by 103.8% during the second quarter. EMG Holdings L.P. now owns 1,199,850 shares of the real estate investment trust’s stock valued at $7,007,000 after buying an additional 610,971 shares during the period. Waterfall Asset Management LLC purchased a new stake in shares of New York Mortgage Trust during the 2nd quarter valued at $1,727,000. Van ECK Associates Corp lifted its stake in New York Mortgage Trust by 35.8% during the second quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust’s stock worth $4,592,000 after purchasing an additional 207,344 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of New York Mortgage Trust by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock worth $13,032,000 after purchasing an additional 132,162 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of New York Mortgage Trust during the 2nd quarter valued at about $630,000. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

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.