StockNews.com Downgrades New York Mortgage Trust (NASDAQ:NYMT) to Sell

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

NYMT has been the subject of a number of other research reports. Keefe, Bruyette & Woods cut their price target on New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating for the company in a research note on Friday. B. Riley reaffirmed a “buy” rating and set a $11.00 target price (down previously from $15.00) on shares of New York Mortgage Trust in a research report on Monday, March 25th.

New York Mortgage Trust Stock Down 0.9 %

Shares of NYMT traded down $0.05 during trading hours on Friday, reaching $6.21. The stock had a trading volume of 1,430,533 shares, compared to its average volume of 614,559. The firm has a 50-day simple moving average of $7.08 and a 200 day simple moving average of $7.84. New York Mortgage Trust has a 12 month low of $5.78 and a 12 month high of $10.63. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 4.21. The company has a market capitalization of $566.54 million, a price-to-earnings ratio of -3.36 and a beta of 1.91.

New York Mortgage Trust (NASDAQ:NYMT) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42). The business had revenue of $83.89 million during the quarter, compared to the consensus estimate of $19.64 million. New York Mortgage Trust had a negative net margin of 44.65% and a negative return on equity of 2.52%. During the same period last year, the business posted $0.11 earnings per share. Equities research analysts predict that New York Mortgage Trust will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in shares of New York Mortgage Trust by 9.1% during the 4th quarter. SG Americas Securities LLC now owns 23,802 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 1,979 shares during the period. EMC Capital Management lifted its stake in New York Mortgage Trust by 31.3% in the 3rd quarter. EMC Capital Management now owns 9,863 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 2,350 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in New York Mortgage Trust by 2.4% in the 3rd quarter. New York State Teachers Retirement System now owns 134,612 shares of the real estate investment trust’s stock valued at $1,143,000 after purchasing an additional 3,100 shares during the period. Yousif Capital Management LLC increased its holdings in shares of New York Mortgage Trust by 11.7% in the fourth quarter. Yousif Capital Management LLC now owns 51,046 shares of the real estate investment trust’s stock worth $435,000 after purchasing an additional 5,352 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of New York Mortgage Trust by 19.7% in the fourth quarter. New York State Common Retirement Fund now owns 34,025 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 5,594 shares in the last quarter. Institutional investors own 54.89% of the company’s stock.

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.