New York Mortgage Trust (NASDAQ:NYMT) Lowered to Sell Rating by StockNews.com

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

Separately, Janney Montgomery Scott started coverage on shares of New York Mortgage Trust in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.75.

New York Mortgage Trust Stock Performance

Shares of NYMT stock opened at $5.96 on Friday. New York Mortgage Trust has a 12 month low of $5.14 and a 12 month high of $9.67. The stock has a market cap of $539.85 million, a PE ratio of -18.06 and a beta of 1.94. The company has a current ratio of 8.25, a quick ratio of 6.46 and a debt-to-equity ratio of 7.24. The company’s fifty day moving average price is $6.01 and its 200-day moving average price is $6.18.

Hedge Funds Weigh In On New York Mortgage Trust

Hedge funds have recently bought and sold shares of the company. EMG Holdings L.P. lifted its stake in New York Mortgage Trust by 103.8% during the 2nd 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 acquiring an additional 610,971 shares during the period. Waterfall Asset Management LLC bought a new position in New York Mortgage Trust during the 2nd quarter valued at about $1,727,000. Van ECK Associates Corp lifted its stake in New York Mortgage Trust by 35.8% during the 2nd quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust’s stock valued at $4,592,000 after acquiring an additional 207,344 shares during the period. Los Angeles Capital Management LLC bought a new position in New York Mortgage Trust during the 2nd quarter valued at about $630,000. Finally, Bank of New York Mellon Corp lifted its stake in New York Mortgage Trust by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 760,054 shares of the real estate investment trust’s stock valued at $4,439,000 after acquiring an additional 42,007 shares during the period. Institutional investors own 54.89% of the company’s stock.

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.