Zacks Investment Research upgraded shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $7.00 price target on the real estate investment trust’s stock.

According to Zacks, “New York Mortgage Trust is a real estate investment trust focused on owning and managing a leveraged portfolio of residential mortgage securities and a mortgage origination business. The mortgage portfolio is comprised largely of prime adjustable-rate and hybrid mortgage loans and securities, much of which, over time will be originated by NYMT’s wholly owned mortgage origination business, The New York Mortgage Company, a taxable real estate investment trust subsidiary. “

Other analysts have also issued reports about the company. BidaskClub upgraded New York Mortgage Trust from a hold rating to a buy rating in a research note on Tuesday, July 25th. TheStreet lowered New York Mortgage Trust from a c rating to a d+ rating in a research note on Friday, August 4th. B. Riley restated a neutral rating and issued a $6.25 target price on shares of New York Mortgage Trust in a research note on Tuesday. Maxim Group restated a buy rating and issued a $6.50 target price on shares of New York Mortgage Trust in a research note on Monday, November 6th. Finally, Keefe, Bruyette & Woods set a $6.00 target price on New York Mortgage Trust and gave the company a hold rating in a research note on Monday, August 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. New York Mortgage Trust has an average rating of Hold and an average price target of $6.35.

Shares of New York Mortgage Trust (NYMT) traded down $0.08 during trading hours on Wednesday, hitting $6.20. The stock had a trading volume of 651,600 shares, compared to its average volume of 894,961. New York Mortgage Trust has a 52 week low of $5.90 and a 52 week high of $7.04. The firm has a market capitalization of $702.44, a price-to-earnings ratio of 11.63 and a beta of 1.36. The company has a debt-to-equity ratio of 13.26, a quick ratio of 74.43 and a current ratio of 71.04.

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The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 25th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 12.90%. The ex-dividend date was Friday, September 22nd. New York Mortgage Trust’s dividend payout ratio is 148.15%.

A number of institutional investors have recently bought and sold shares of NYMT. Global X Management Co. LLC boosted its holdings in New York Mortgage Trust by 7.1% in the second quarter. Global X Management Co. LLC now owns 2,674,312 shares of the real estate investment trust’s stock valued at $16,634,000 after acquiring an additional 176,188 shares during the last quarter. Vanguard Group Inc. boosted its holdings in New York Mortgage Trust by 3.7% in the second quarter. Vanguard Group Inc. now owns 4,684,792 shares of the real estate investment trust’s stock valued at $29,139,000 after acquiring an additional 169,079 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in New York Mortgage Trust by 38.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 584,089 shares of the real estate investment trust’s stock valued at $3,634,000 after acquiring an additional 163,438 shares during the last quarter. Citadel Advisors LLC boosted its holdings in New York Mortgage Trust by 29.5% in the second quarter. Citadel Advisors LLC now owns 561,186 shares of the real estate investment trust’s stock valued at $3,491,000 after acquiring an additional 127,793 shares during the last quarter. Finally, State Street Corp boosted its holdings in New York Mortgage Trust by 5.8% in the second quarter. State Street Corp now owns 2,325,571 shares of the real estate investment trust’s stock valued at $14,468,000 after acquiring an additional 126,981 shares during the last quarter. Institutional investors and hedge funds own 36.19% of the company’s stock.

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.

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

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