New York Mortgage Trust (NASDAQ:NYMT) Lifted to “Hold” at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of New York Mortgage Trust (NASDAQ:NYMT) to a hold rating in a research report report published on Monday morning, MarketBeat.com reports.

A number of other analysts have also issued reports on NYMT. StockNews.com lowered New York Mortgage Trust from a hold rating to a sell rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods lowered their price objective on shares of New York Mortgage Trust from $8.50 to $7.00 and set a market perform rating on the stock in a research note on Friday, May 3rd. Finally, UBS Group cut their target price on shares of New York Mortgage Trust from $7.50 to $6.00 and set a neutral rating for the company in a research note on Wednesday, May 8th. One research 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, the stock has a consensus rating of Hold and an average price target of $7.75.

New York Mortgage Trust Trading Up 2.1 %

Shares of NASDAQ:NYMT opened at $6.36 on Monday. The company has a debt-to-equity ratio of 6.30, a quick ratio of 4.02 and a current ratio of 6.46. The stock’s 50-day moving average is $6.22 and its 200-day moving average is $6.67. The company has a market cap of $580.21 million, a P/E ratio of -3.44 and a beta of 1.93. New York Mortgage Trust has a 52-week low of $5.51 and a 52-week high of $9.68.

New York Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 12.58%. The ex-dividend date was Thursday, June 27th. New York Mortgage Trust’s payout ratio is presently -43.24%.

Institutional Trading of New York Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in New York Mortgage Trust by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,132 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 1,901 shares during the period. AQR Capital Management LLC acquired a new stake in shares of New York Mortgage Trust during the 2nd quarter valued at about $83,000. Squarepoint Ops LLC acquired a new stake in shares of New York Mortgage Trust during the 2nd quarter valued at about $136,000. Evergreen Capital Management LLC bought a new stake in New York Mortgage Trust in the second quarter valued at about $83,000. Finally, Public Sector Pension Investment Board raised its position in New York Mortgage Trust by 6.7% in the second quarter. Public Sector Pension Investment Board now owns 200,708 shares of the real estate investment trust’s stock worth $1,172,000 after purchasing an additional 12,528 shares in the last quarter. 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.