New York Mortgage Trust (NASDAQ:NYMT) Trading Down 10.3%

New York Mortgage Trust, Inc. (NASDAQ:NYMTGet Rating)’s stock price was down 10.3% during trading on Friday . The company traded as low as $2.35 and last traded at $2.35. Approximately 199,932 shares were traded during trading, a decline of 93% from the average daily volume of 2,727,979 shares. The stock had previously closed at $2.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NYMT shares. Keefe, Bruyette & Woods cut New York Mortgage Trust from an “outperform” rating to a “market perform” rating and set a $3.00 target price on the stock. in a report on Monday, July 18th. Jonestrading reduced their price target on New York Mortgage Trust from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. Credit Suisse Group reduced their price target on New York Mortgage Trust to $3.50 in a research note on Friday, July 22nd. TheStreet lowered New York Mortgage Trust from a “c-” rating to a “d+” rating in a research note on Wednesday, August 3rd. Finally, Barclays reduced their price target on New York Mortgage Trust from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, New York Mortgage Trust has an average rating of “Hold” and an average target price of $3.71.

New York Mortgage Trust Stock Down 8.8 %

The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 2.30. The firm has a market capitalization of $911.19 million, a PE ratio of -8.54 and a beta of 1.71. The firm has a 50-day moving average of $2.90 and a two-hundred day moving average of $3.07.

New York Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Monday, September 26th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 16.74%. The ex-dividend date of this dividend is Friday, September 23rd. New York Mortgage Trust’s dividend payout ratio (DPR) is currently -142.85%.

Institutional Trading of New York Mortgage Trust

Several large investors have recently added to or reduced their stakes in NYMT. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in New York Mortgage Trust in the 1st quarter valued at $10,579,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in New York Mortgage Trust in the 1st quarter valued at $9,408,000. Invesco Ltd. increased its holdings in New York Mortgage Trust by 73.1% in the 4th quarter. Invesco Ltd. now owns 4,750,660 shares of the real estate investment trust’s stock valued at $17,672,000 after purchasing an additional 2,005,527 shares in the last quarter. Clear Harbor Asset Management LLC increased its holdings in New York Mortgage Trust by 80.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 3,127,630 shares of the real estate investment trust’s stock valued at $8,632,000 after purchasing an additional 1,394,115 shares in the last quarter. Finally, Delphi Financial Group Inc. acquired a new stake in New York Mortgage Trust in the 2nd quarter valued at $3,207,000. 54.74% of the stock is currently owned by institutional investors and hedge funds.

New York Mortgage Trust Company Profile

(Get Rating)

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, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.

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