New York Mortgage Trust Inc. (NYMT) Sees Unusually-High Trading Volume
New York Mortgage Trust Inc. (NASDAQ:NYMT) shares saw strong trading volume on Friday . 1,123,236 shares changed hands during trading, an increase of 31% from the previous session’s volume of 860,519 shares.The stock last traded at $5.96 and had previously closed at $6.03.
A number of equities research analysts have recently issued reports on the stock. Deutsche Bank AG set a $6.00 price target on shares of New York Mortgage Trust and gave the company a “hold” rating in a report on Saturday, August 6th. Zacks Investment Research upgraded shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Credit Suisse Group AG restated a “sell” rating and set a $5.50 price target on shares of New York Mortgage Trust in a report on Wednesday, August 3rd. Keefe, Bruyette & Woods set a $6.80 price objective on shares of New York Mortgage Trust and gave the company a “hold” rating in a research report on Tuesday, August 9th. Finally, JMP Securities reaffirmed a “hold” rating on shares of New York Mortgage Trust in a research report on Saturday, June 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.96.
The firm has a market capitalization of $655.22 million and a P/E ratio of 13.53. The company has a 50 day moving average of $6.30 and a 200-day moving average of $5.47.
New York Mortgage Trust (NASDAQ:NYMT) last issued its earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.08. During the same quarter in the prior year, the company earned $0.20 EPS. On average, analysts predict that New York Mortgage Trust Inc. will post $0.90 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, June 27th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 16.05%. The ex-dividend date of this dividend was Thursday, June 23rd.
In other New York Mortgage Trust news, President Kevin M. Donlon bought 58,004 shares of New York Mortgage Trust stock in a transaction dated Thursday, June 9th. The shares were bought at an average price of $6.30 per share, with a total value of $365,425.20. Following the purchase, the president now owns 519,000 shares of the company’s stock, valued at $3,269,700. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Kevin M. Donlon bought 203,396 shares of New York Mortgage Trust stock in a transaction dated Tuesday, May 31st. The stock was acquired at an average cost of $5.92 per share, for a total transaction of $1,204,104.32. Following the purchase, the president now directly owns 460,996 shares in the company, valued at approximately $2,729,096.32. The disclosure for this purchase can be found here.
New York Mortgage Trust, Inc is a real estate investment trust. The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. Its investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, multi-family commercial mortgage-backed securities (CMBS), mezzanine loans to and preferred equity investments in owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and commercial real estate-related debt investments, and Agency residential mortgage-backed securities (RMBS).
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