BidaskClub upgraded shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) from a hold rating to a buy rating in a research note released on Tuesday morning.

Several other equities research analysts have also weighed in on NYMT. Zacks Investment Research lowered shares of New York Mortgage Trust from a hold rating to a sell rating in a report on Saturday, May 6th. Keefe, Bruyette & Woods set a $6.00 target price on shares of New York Mortgage Trust and gave the stock a hold rating in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. New York Mortgage Trust has a consensus rating of Hold and a consensus price target of $6.15.

New York Mortgage Trust (NASDAQ NYMT) traded down 0.32% on Tuesday, hitting $6.28. 492,878 shares of the stock were exchanged. The stock has a market cap of $702.37 million, a PE ratio of 12.22 and a beta of 1.38. New York Mortgage Trust has a 1-year low of $5.65 and a 1-year high of $7.04. The company’s 50 day moving average is $6.34 and its 200 day moving average is $6.35.

New York Mortgage Trust (NASDAQ:NYMT) last announced its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The business had revenue of $13.92 million during the quarter, compared to the consensus estimate of $19.49 million. New York Mortgage Trust had a net margin of 20.53% and a return on equity of 9.98%. During the same period last year, the firm earned $0.13 EPS. On average, equities research analysts expect that New York Mortgage Trust will post $0.60 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 26th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 12.74%. The ex-dividend date was Thursday, June 22nd. New York Mortgage Trust’s payout ratio is 156.86%.

Large investors have recently bought and sold shares of the company. State Street Corp raised its stake in New York Mortgage Trust by 7.7% in the fourth quarter. State Street Corp now owns 2,164,690 shares of the real estate investment trust’s stock valued at $14,284,000 after buying an additional 153,943 shares during the last quarter. GSA Capital Partners LLP raised its stake in New York Mortgage Trust by 21.3% in the fourth quarter. GSA Capital Partners LLP now owns 41,600 shares of the real estate investment trust’s stock valued at $275,000 after buying an additional 7,300 shares during the last quarter. Teachers Advisors LLC raised its stake in New York Mortgage Trust by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 181,876 shares of the real estate investment trust’s stock valued at $1,200,000 after buying an additional 3,806 shares during the last quarter. Prospera Financial Services Inc raised its stake in New York Mortgage Trust by 6.9% in the first quarter. Prospera Financial Services Inc now owns 21,930 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 1,425 shares during the last quarter. Finally, WealthTrust Axiom LLC raised its stake in New York Mortgage Trust by 1.9% in the first quarter. WealthTrust Axiom LLC now owns 54,180 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 1,000 shares during the last quarter. 36.06% of the stock is currently owned by institutional investors and hedge funds.

About New York Mortgage Trust

New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.

Analyst Recommendations for New York Mortgage Trust (NASDAQ:NYMT)

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