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

StockNews.com lowered shares of New York Mortgage Trust (NASDAQ:NYMT – Get Rating) from a hold rating to a sell rating in a research report released on Wednesday morning.

NYMT has been the subject of several other reports. Jonestrading reissued a hold rating on shares of New York Mortgage Trust in a research note on Wednesday, March 1st. Keefe, Bruyette & Woods dropped their price target on New York Mortgage Trust to $2.50 and set a market perform rating on the stock in a research note on Wednesday, March 8th. Finally, LADENBURG THALM/SH SH lowered shares of New York Mortgage Trust from a buy rating to a neutral rating and set a $12.00 price objective for the company. in a research note on Friday, February 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $13.33.

New York Mortgage Trust Trading Down 4.1 %

Shares of NASDAQ:NYMT opened at $8.94 on Wednesday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 9.77 and a current ratio of 9.77. The stock has a market capitalization of $817.21 million, a price-to-earnings ratio of -2.48 and a beta of 1.78. New York Mortgage Trust has a 1-year low of $8.28 and a 1-year high of $14.96. The company has a 50 day moving average price of $11.20 and a 200 day moving average price of $10.83.

New York Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Monday, March 20th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 17.90%. The ex-dividend date is Friday, March 17th. New York Mortgage Trust’s dividend payout ratio is currently -44.44%.

Hedge Funds Weigh In On New York Mortgage Trust

Several institutional investors and hedge funds have recently bought and sold shares of NYMT. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of New York Mortgage Trust in the third quarter worth approximately $25,000. Evergreen Capital Management LLC purchased a new stake in New York Mortgage Trust in the 3rd quarter worth approximately $26,000. M&T Bank Corp purchased a new stake in New York Mortgage Trust in the 2nd quarter worth approximately $28,000. Bleakley Financial Group LLC acquired a new stake in shares of New York Mortgage Trust during the 4th quarter valued at $28,000. Finally, Clarius Group LLC purchased a new position in shares of New York Mortgage Trust during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

About New York Mortgage Trust

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New York Mortgage Trust, Inc is a real estate investment trust, which engages in the acquisition, investment, finance, and management of mortgage-related single-family and multi-family residential assets. Its investment portfolio includes credit sensitive single-family and multi-family assets. The company was founded on September 26, 2003 and is headquartered in New York, NY.