$33.87 Million in Sales Expected for New York Mortgage Trust, Inc. (NASDAQ:NYMT) This Quarter

Wall Street brokerages forecast that New York Mortgage Trust, Inc. (NASDAQ:NYMT) will post $33.87 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for New York Mortgage Trust’s earnings, with estimates ranging from $32.50 million to $35.25 million. New York Mortgage Trust reported sales of $25.96 million during the same quarter last year, which indicates a positive year-over-year growth rate of 30.5%. The company is expected to issue its next earnings report on Wednesday, February 23rd.

On average, analysts expect that New York Mortgage Trust will report full-year sales of $126.84 million for the current financial year, with estimates ranging from $125.40 million to $128.27 million. For the next year, analysts expect that the firm will report sales of $161.38 million, with estimates ranging from $143.20 million to $179.56 million. Zacks’ sales averages are an average based on a survey of research firms that follow New York Mortgage Trust.

New York Mortgage Trust (NASDAQ:NYMT) last posted its earnings results on Tuesday, November 2nd. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). New York Mortgage Trust had a net margin of 118.27% and a return on equity of 10.80%. During the same quarter in the prior year, the firm posted $0.07 earnings per share.

Separately, Zacks Investment Research cut shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.08.

Several hedge funds have recently made changes to their positions in NYMT. EMG Holdings L.P. acquired a new position in shares of New York Mortgage Trust during the third quarter worth approximately $7,667,000. Balyasny Asset Management LLC acquired a new position in shares of New York Mortgage Trust during the third quarter worth approximately $7,471,000. Two Sigma Advisers LP lifted its position in shares of New York Mortgage Trust by 56.4% during the third quarter. Two Sigma Advisers LP now owns 2,766,800 shares of the real estate investment trust’s stock worth $11,787,000 after purchasing an additional 997,500 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of New York Mortgage Trust by 96.8% during the third quarter. Goldman Sachs Group Inc. now owns 1,938,480 shares of the real estate investment trust’s stock worth $8,258,000 after purchasing an additional 953,298 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of New York Mortgage Trust by 61.2% during the second quarter. Invesco Ltd. now owns 2,184,007 shares of the real estate investment trust’s stock worth $9,762,000 after purchasing an additional 828,847 shares in the last quarter. Institutional investors own 53.89% of the company’s stock.

New York Mortgage Trust stock traded up $0.01 during trading hours on Thursday, hitting $3.95. 1,077,160 shares of the stock were exchanged, compared to its average volume of 2,980,058. The company has a debt-to-equity ratio of 1.22, a quick ratio of 18.94 and a current ratio of 18.94. The stock has a market capitalization of $1.50 billion, a P/E ratio of 7.90 and a beta of 1.85. New York Mortgage Trust has a 12 month low of $3.50 and a 12 month high of $4.93. The business’s 50-day moving average is $4.28 and its two-hundred day moving average is $4.38.

The business also recently announced a quarterly dividend, which was paid on Monday, October 25th. Stockholders of record on Thursday, September 23rd were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.13%. New York Mortgage Trust’s payout ratio is 80.00%.

About New York Mortgage Trust

New York Mortgage Trust, Inc is a real estate investment trust, which engages in the acquisition, investment, finance and management of mortgage-related and residential housing-related assets. Its objective is to deliver long-term stable distributions to its stockholders over changing economic conditions through a combination of net interest margin and capital gains from a diversified investment portfolio.

Recommended Story: Guidelines for Successful Channel Trading

Get a free copy of the Zacks research report on New York Mortgage Trust (NYMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for New York Mortgage Trust (NASDAQ:NYMT)

Receive News & Ratings for New York Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.