New York Mortgage Trust (NASDAQ:NYMT) Given New $7.00 Price Target at Keefe, Bruyette & Woods

New York Mortgage Trust (NASDAQ:NYMT) had its price objective cut by Keefe, Bruyette & Woods from $8.50 to $7.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a market perform rating on the real estate investment trust’s stock.

A number of other brokerages have also commented on NYMT. B. Riley reissued a buy rating and set a $11.00 price objective (down from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th. StockNews.com raised New York Mortgage Trust from a sell rating to a hold rating in a report on Thursday, February 22nd.

New York Mortgage Trust Stock Down 0.9 %

New York Mortgage Trust stock traded down $0.05 during midday trading on Friday, reaching $6.21. The stock had a trading volume of 1,433,394 shares, compared to its average volume of 678,898. New York Mortgage Trust has a 12 month low of $5.78 and a 12 month high of $10.63. The company has a market capitalization of $566.54 million, a P/E ratio of -3.36 and a beta of 1.91. The company has a fifty day moving average price of $7.06 and a two-hundred day moving average price of $7.82. The company has a current ratio of 4.02, a quick ratio of 4.29 and a debt-to-equity ratio of 5.03.

New York Mortgage Trust (NASDAQ:NYMT) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42). The company had revenue of $83.89 million for the quarter, compared to the consensus estimate of $19.64 million. New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. During the same period in the prior year, the firm posted $0.11 earnings per share. As a group, equities analysts expect that New York Mortgage Trust will post 0.55 EPS for the current fiscal year.

New York Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, March 25th were paid a $0.20 dividend. The ex-dividend date was Friday, March 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.88%. New York Mortgage Trust’s payout ratio is presently -43.24%.

Hedge Funds Weigh In On New York Mortgage Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of New York Mortgage Trust by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock worth $13,032,000 after buying an additional 132,162 shares during the last quarter. Wolverine Asset Management LLC boosted its stake in shares of New York Mortgage Trust by 7.0% in the 3rd quarter. Wolverine Asset Management LLC now owns 975,993 shares of the real estate investment trust’s stock worth $8,286,000 after buying an additional 63,504 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of New York Mortgage Trust by 0.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 899,889 shares of the real estate investment trust’s stock worth $7,640,000 after buying an additional 6,705 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of New York Mortgage Trust by 1.3% in the 1st quarter. Van ECK Associates Corp now owns 578,929 shares of the real estate investment trust’s stock worth $4,168,000 after buying an additional 7,316 shares during the last quarter. Finally, EMG Holdings L.P. boosted its stake in shares of New York Mortgage Trust by 192.1% in the 4th quarter. EMG Holdings L.P. now owns 555,930 shares of the real estate investment trust’s stock worth $4,742,000 after buying an additional 365,622 shares during the last quarter. Hedge funds and other institutional investors own 54.89% of the company’s stock.

About New York Mortgage Trust

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.