B. Riley Lowers New York Mortgage Trust (NASDAQ:NYMT) Price Target to $8.00

New York Mortgage Trust (NASDAQ:NYMT) had its price objective decreased by investment analysts at B. Riley from $11.00 to $8.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s price target indicates a potential upside of 33.56% from the stock’s previous close.

Separately, StockNews.com lowered shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.00.

New York Mortgage Trust Trading Down 1.5 %

NASDAQ:NYMT opened at $5.99 on Tuesday. The stock has a fifty day moving average price of $6.05 and a 200 day moving average price of $6.15. The company has a current ratio of 8.25, a quick ratio of 8.25 and a debt-to-equity ratio of 7.24. New York Mortgage Trust has a 12-month low of $5.14 and a 12-month high of $8.61. The firm has a market cap of $542.57 million, a PE ratio of -18.15 and a beta of 1.92.

Hedge Funds Weigh In On New York Mortgage Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Waterfall Asset Management LLC acquired a new stake in shares of New York Mortgage Trust during the 2nd quarter valued at approximately $1,727,000. Geode Capital Management LLC boosted its position in shares of New York Mortgage Trust by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,261,614 shares of the real estate investment trust’s stock worth $14,320,000 after buying an additional 10,017 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of New York Mortgage Trust in the 2nd quarter worth about $630,000. Intech Investment Management LLC grew its stake in New York Mortgage Trust by 91.5% in the 3rd quarter. Intech Investment Management LLC now owns 40,113 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 19,165 shares during the last quarter. Finally, Barclays PLC increased its holdings in New York Mortgage Trust by 347.4% during the 3rd quarter. Barclays PLC now owns 150,946 shares of the real estate investment trust’s stock valued at $955,000 after acquiring an additional 117,206 shares in the last quarter. Institutional investors and hedge funds 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.