BidaskClub downgraded shares of New York Mortgage Trust (NASDAQ:NYMT) from a sell rating to a strong sell rating in a research report released on Thursday.

Several other equities analysts also recently commented on NYMT. Barclays increased their price objective on shares of New York Mortgage Trust from $5.00 to $6.00 and gave the company an equal weight rating in a research note on Tuesday, October 10th. B. Riley reaffirmed a neutral rating and set a $6.25 price target on shares of New York Mortgage Trust in a research note on Tuesday, November 7th. Keefe, Bruyette & Woods set a $6.00 price target on shares of New York Mortgage Trust and gave the company a hold rating in a research note on Sunday, November 12th. Maxim Group reaffirmed a buy rating and set a $6.50 price target on shares of New York Mortgage Trust in a research note on Monday, November 6th. Finally, Zacks Investment Research downgraded shares of New York Mortgage Trust from a hold rating to a sell rating in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $6.35.

Shares of New York Mortgage Trust (NASDAQ NYMT) remained flat at $$6.23 during trading hours on Thursday. 397,800 shares of the company were exchanged, compared to its average volume of 892,817. The firm has a market cap of $692.38, a P/E ratio of 11.54 and a beta of 1.37. The company has a debt-to-equity ratio of 13.26, a quick ratio of 71.04 and a current ratio of 71.04. New York Mortgage Trust has a one year low of $5.90 and a one year high of $6.85.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Monday, December 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 12.84%. The ex-dividend date of this dividend is Friday, December 15th. New York Mortgage Trust’s payout ratio is currently 148.15%.

Several hedge funds have recently added to or reduced their stakes in NYMT. Teachers Advisors LLC raised its stake in New York Mortgage Trust by 2.1% during the first quarter. Teachers Advisors LLC now owns 185,746 shares of the real estate investment trust’s stock worth $1,146,000 after buying an additional 3,870 shares during the last quarter. Sei Investments Co. raised its stake in New York Mortgage Trust by 50.4% during the second quarter. Sei Investments Co. now owns 23,931 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 8,018 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in New York Mortgage Trust by 38.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 584,089 shares of the real estate investment trust’s stock worth $3,634,000 after buying an additional 163,438 shares during the last quarter. Bank of New York Mellon Corp raised its stake in New York Mortgage Trust by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 555,126 shares of the real estate investment trust’s stock worth $3,452,000 after buying an additional 19,728 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in New York Mortgage Trust by 4.3% during the second quarter. Legal & General Group Plc now owns 27,094 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 1,106 shares during the last quarter. 37.80% of the stock is owned by hedge funds and other institutional investors.

WARNING: “New York Mortgage Trust (NYMT) Downgraded to “Strong Sell” at BidaskClub” was first posted by Watch List News and is owned by of Watch List News. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://www.watchlistnews.com/new-york-mortgage-trust-nymt-downgraded-to-strong-sell-at-bidaskclub/1778516.html.

New York Mortgage Trust Company Profile

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)

Receive News & Ratings for New York Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.