Maxim Group reiterated their buy rating on shares of NY Mtg Tr Inc/SH (NASDAQ:NYMT) in a research report released on Tuesday morning. The firm currently has a $6.75 target price on the real estate investment trust’s stock.
“NYMT reported 3Q18 comprehensive income of $0.14, versus its dividend of $0.20, partly due to an intra-quarter common equity raise and lower average earning assets. Strong originations drove period-end earning assets up; combined with a solid 4Q18 pipeline and the new equity, this should position NYMT well for 4Q18 and 2019.”,” Maxim Group’s analyst wrote.
Several other research firms also recently weighed in on NYMT. LADENBURG THALM/SH SH downgraded NY Mtg Tr Inc/SH from a buy rating to a neutral rating in a research note on Monday, August 6th. BidaskClub upgraded NY Mtg Tr Inc/SH from a hold rating to a buy rating in a research note on Saturday, October 27th. Zacks Investment Research upgraded NY Mtg Tr Inc/SH from a sell rating to a hold rating in a research note on Wednesday, July 25th. Finally, ValuEngine downgraded NY Mtg Tr Inc/SH from a hold rating to a sell rating in a research note on Wednesday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $6.25.
NASDAQ:NYMT traded up $0.02 during trading on Tuesday, reaching $6.09. The company’s stock had a trading volume of 2,497,248 shares, compared to its average volume of 1,369,308. The company has a market capitalization of $874.69 million, a PE ratio of 9.23 and a beta of 1.00. The company has a debt-to-equity ratio of 13.55, a current ratio of 88.96 and a quick ratio of 86.93. NY Mtg Tr Inc/SH has a 12 month low of $5.35 and a 12 month high of $6.54.
NY Mtg Tr Inc/SH (NASDAQ:NYMT) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. The company had revenue of $19.60 million during the quarter, compared to the consensus estimate of $17.10 million. NY Mtg Tr Inc/SH had a return on equity of 17.13% and a net margin of 25.07%. Sell-side analysts anticipate that NY Mtg Tr Inc/SH will post 0.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Thursday, September 27th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 26th. This represents a $0.80 annualized dividend and a dividend yield of 13.14%. NY Mtg Tr Inc/SH’s payout ratio is 121.21%.
Hedge funds have recently bought and sold shares of the company. LSV Asset Management boosted its stake in NY Mtg Tr Inc/SH by 1.2% in the 3rd quarter. LSV Asset Management now owns 3,441,590 shares of the real estate investment trust’s stock worth $20,924,000 after purchasing an additional 39,279 shares during the period. Bank of New York Mellon Corp boosted its stake in NY Mtg Tr Inc/SH by 24.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,570,469 shares of the real estate investment trust’s stock worth $9,549,000 after purchasing an additional 305,262 shares during the period. Van ECK Associates Corp boosted its stake in NY Mtg Tr Inc/SH by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 575,232 shares of the real estate investment trust’s stock worth $3,457,000 after purchasing an additional 18,423 shares during the period. Rhumbline Advisers boosted its stake in NY Mtg Tr Inc/SH by 19.2% in the 3rd quarter. Rhumbline Advisers now owns 319,095 shares of the real estate investment trust’s stock worth $1,940,000 after purchasing an additional 51,294 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its stake in NY Mtg Tr Inc/SH by 5.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 285,310 shares of the real estate investment trust’s stock worth $1,715,000 after purchasing an additional 13,710 shares during the period. Institutional investors own 45.00% of the company’s stock.
About NY Mtg Tr Inc/SH
New York Mortgage Trust, Inc, a real estate investment trust (REIT), acquires, invests in, finances, and manages mortgage-related and residential housing-related, and financial assets in the United States. The company's investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets; non-agency residential mortgage-backed securities; multi-family commercial mortgage-backed securities; and preferred equities.
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