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

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

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

New York Mortgage Trust Stock Up 1.2 %

New York Mortgage Trust stock traded up $0.07 during mid-day trading on Friday, reaching $5.96. The stock had a trading volume of 697,009 shares, compared to its average volume of 916,048. The firm has a market capitalization of $539.86 million, a PE ratio of -18.06 and a beta of 1.94. New York Mortgage Trust has a fifty-two week low of $5.14 and a fifty-two week high of $9.67. The stock’s 50-day simple moving average is $6.03 and its 200-day simple moving average is $6.19. The company has a debt-to-equity ratio of 7.24, a quick ratio of 6.46 and a current ratio of 8.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. EMG Holdings L.P. increased its stake in New York Mortgage Trust by 103.8% in 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 buying an additional 610,971 shares during the last quarter. Waterfall Asset Management LLC bought a new stake in New York Mortgage Trust during the second quarter worth $1,727,000. Van ECK Associates Corp boosted its position in New York Mortgage Trust by 35.8% in the second quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust’s stock worth $4,592,000 after purchasing an additional 207,344 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in New York Mortgage Trust in the second quarter worth $630,000. Finally, Bank of New York Mellon Corp increased its position in shares of 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 purchasing an additional 42,007 shares during the last quarter. 54.89% of the stock is owned by institutional investors.

New York Mortgage Trust Company Profile

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.