New York Mortgage Trust (NASDAQ:NYMT) Stock Rating Upgraded by StockNews.com

New York Mortgage Trust (NASDAQ:NYMT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Separately, Janney Montgomery Scott began coverage on shares of New York Mortgage Trust in a report on Tuesday, August 13th. They set a “neutral” rating and a $7.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, New York Mortgage Trust currently has an average rating of “Hold” and an average price target of $7.75.

New York Mortgage Trust Price Performance

Shares of NASDAQ:NYMT opened at $6.53 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 firm has a market cap of $595.72 million, a price-to-earnings ratio of -3.53 and a beta of 1.94. The business has a 50-day simple moving average of $6.49 and a two-hundred day simple moving average of $6.48. New York Mortgage Trust has a fifty-two week low of $5.51 and a fifty-two week high of $9.67.

Institutional Trading of New York Mortgage Trust

Large investors have recently added to or reduced their stakes in the business. EMG Holdings L.P. boosted its stake in shares of New York Mortgage Trust by 192.1% during the 4th quarter. EMG Holdings L.P. now owns 555,930 shares of the real estate investment trust’s stock worth $4,742,000 after acquiring an additional 365,622 shares during the last quarter. Waterfall Asset Management LLC purchased a new position in New York Mortgage Trust during the second quarter valued at $1,727,000. Los Angeles Capital Management LLC bought a new stake in New York Mortgage Trust during the second quarter valued at about $630,000. Mirae Asset Global Investments Co. Ltd. increased its position in New York Mortgage Trust by 0.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 833,702 shares of the real estate investment trust’s stock worth $6,003,000 after buying an additional 6,148 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of New York Mortgage Trust by 11.8% in the first quarter. Sei Investments Co. now owns 73,072 shares of the real estate investment trust’s stock worth $526,000 after buying an additional 7,728 shares during the period. 54.89% of the stock is currently owned by 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.