New York Mortgage Trust (NASDAQ:NYMT) Trading Down 3.8%

New York Mortgage Trust, Inc. (NASDAQ:NYMT)’s stock price dropped 3.8% during mid-day trading on Thursday . The company traded as low as $5.86 and last traded at $5.88. Approximately 334,718 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 626,541 shares. The stock had previously closed at $6.11.

Wall Street Analyst Weigh In

NYMT has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and issued a $11.00 price target (down from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th. Keefe, Bruyette & Woods cut their price target on New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. StockNews.com downgraded New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, UBS Group lowered their price objective on New York Mortgage Trust from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th.

New York Mortgage Trust Stock Up 2.2 %

The company has a debt-to-equity ratio of 5.03, a current ratio of 4.02 and a quick ratio of 4.02. The stock has a 50-day moving average price of $6.20 and a two-hundred day moving average price of $7.19.

New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42). New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. The firm had revenue of $83.89 million for the quarter, compared to analyst estimates of $19.64 million. During the same period in the prior year, the firm posted $0.11 EPS. As a group, equities research analysts expect that New York Mortgage Trust, Inc. will post -0.46 EPS for the current fiscal year.

New York Mortgage Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.80 dividend on an annualized basis and a yield of 13.70%. New York Mortgage Trust’s dividend payout ratio is currently -43.24%.

Institutional Trading of New York Mortgage Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC purchased a new position in shares of New York Mortgage Trust during the 4th quarter valued at about $115,000. Sax Wealth Advisors LLC purchased a new position in shares of New York Mortgage Trust during the 1st quarter valued at about $168,000. SageView Advisory Group LLC purchased a new position in shares of New York Mortgage Trust during the 1st quarter valued at about $178,000. Teacher Retirement System of Texas purchased a new position in shares of New York Mortgage Trust during the 4th quarter valued at about $201,000. Finally, SG Americas Securities LLC raised its stake in shares of New York Mortgage Trust by 9.1% during the 4th quarter. SG Americas Securities LLC now owns 23,802 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 1,979 shares during 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.