New York Mortgage Trust Inc (NYMT) to Post FY2017 Earnings of $0.56 Per Share, B. Riley Forecasts

New York Mortgage Trust Inc (NASDAQ:NYMT) – Equities researchers at B. Riley lifted their FY2017 earnings per share estimates for shares of New York Mortgage Trust in a research report issued to clients and investors on Thursday. B. Riley analyst J. Levi-Ribner now anticipates that the real estate investment trust will post earnings of $0.56 per share for the year, up from their prior estimate of $0.55. B. Riley has a “Neutral” rating and a $6.25 price objective on the stock. B. Riley also issued estimates for New York Mortgage Trust’s Q1 2018 earnings at $0.13 EPS, Q2 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.15 EPS, FY2018 earnings at $0.56 EPS, Q1 2019 earnings at $0.14 EPS, Q2 2019 earnings at $0.15 EPS, Q3 2019 earnings at $0.15 EPS and Q4 2019 earnings at $0.15 EPS.

NYMT has been the subject of a number of other research reports. Zacks Investment Research raised shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Keefe, Bruyette & Woods set a $6.00 price target on shares of New York Mortgage Trust and gave the stock a “hold” rating in a research report on Sunday, November 12th. TheStreet raised shares of New York Mortgage Trust from a “d+” rating to a “c” rating in a research report on Thursday, November 2nd. BidaskClub downgraded shares of New York Mortgage Trust from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 21st. Finally, Barclays raised their price target on shares of New York Mortgage Trust from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $6.35.

Shares of New York Mortgage Trust (NYMT) opened at $6.07 on Friday. The company has a debt-to-equity ratio of 13.26, a current ratio of 71.04 and a quick ratio of 71.04. New York Mortgage Trust has a 1 year low of $5.90 and a 1 year high of $6.83. The stock has a market cap of $678.95, a P/E ratio of 12.14 and a beta of 1.36.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Monday, December 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.18%. The ex-dividend date is Friday, December 15th. New York Mortgage Trust’s payout ratio is currently 160.00%.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of New York Mortgage Trust by 3.7% during the second quarter. Vanguard Group Inc. now owns 4,684,792 shares of the real estate investment trust’s stock worth $29,139,000 after buying an additional 169,079 shares in the last quarter. Global X MANAGEMENT CO LLC grew its position in shares of New York Mortgage Trust by 4.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 2,780,156 shares of the real estate investment trust’s stock worth $17,098,000 after buying an additional 105,844 shares in the last quarter. State Street Corp grew its position in shares of New York Mortgage Trust by 5.8% during the second quarter. State Street Corp now owns 2,325,571 shares of the real estate investment trust’s stock worth $14,468,000 after buying an additional 126,981 shares in the last quarter. Northern Trust Corp grew its position in shares of New York Mortgage Trust by 4.7% during the second quarter. Northern Trust Corp now owns 2,114,941 shares of the real estate investment trust’s stock worth $13,155,000 after buying an additional 95,079 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in New York Mortgage Trust by 10.6% during the third quarter. Van ECK Associates Corp now owns 638,266 shares of the real estate investment trust’s stock worth $3,925,000 after purchasing an additional 61,102 shares during the last quarter. 37.80% of the stock is owned by institutional investors and hedge funds.

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New York Mortgage Trust Company Profile

New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.

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