BidaskClub Lowers NY MTG TR INC/SH (NASDAQ:NYMT) to Hold

NY MTG TR INC/SH (NASDAQ:NYMT) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday, BidAskClub reports.

A number of other equities analysts have also recently weighed in on NYMT. Maxim Group set a $7.00 price target on NY MTG TR INC/SH and gave the stock a “buy” rating in a report on Friday, July 19th. Nomura upped their price target on NY MTG TR INC/SH from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Raymond James restated a “hold” rating on shares of NY MTG TR INC/SH in a report on Monday, September 23rd. LADENBURG THALM/SH SH upgraded NY MTG TR INC/SH from a “neutral” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research upgraded NY MTG TR INC/SH from a “hold” rating to a “strong-buy” rating and set a $7.00 price target for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $6.50.

NASDAQ NYMT traded up $0.03 on Friday, reaching $6.11. The company had a trading volume of 1,181,602 shares, compared to its average volume of 2,692,266. The firm has a market capitalization of $1.60 billion, a PE ratio of 7.10 and a beta of 0.77. NY MTG TR INC/SH has a 1 year low of $5.58 and a 1 year high of $6.44. The firm has a 50-day moving average of $6.11 and a 200-day moving average of $6.15. The company has a debt-to-equity ratio of 13.59, a current ratio of 116.34 and a quick ratio of 116.34.

NY MTG TR INC/SH (NASDAQ:NYMT) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.08). The company had revenue of $25.69 million during the quarter, compared to analysts’ expectations of $32.90 million. NY MTG TR INC/SH had a return on equity of 10.99% and a net margin of 18.56%. As a group, sell-side analysts expect that NY MTG TR INC/SH will post 0.67 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Prime Capital Investment Advisors LLC raised its position in shares of NY MTG TR INC/SH by 85.7% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 13,000 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 6,000 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of NY MTG TR INC/SH by 11.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 60,900 shares of the real estate investment trust’s stock valued at $378,000 after purchasing an additional 6,340 shares in the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of NY MTG TR INC/SH by 15.7% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 55,040 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 7,465 shares in the last quarter. LSV Asset Management raised its position in shares of NY MTG TR INC/SH by 0.3% in the 2nd quarter. LSV Asset Management now owns 3,567,011 shares of the real estate investment trust’s stock valued at $22,115,000 after purchasing an additional 9,700 shares in the last quarter. Finally, Strs Ohio raised its position in shares of NY MTG TR INC/SH by 22.7% in the 2nd quarter. Strs Ohio now owns 55,600 shares of the real estate investment trust’s stock valued at $344,000 after purchasing an additional 10,300 shares in the last quarter. 44.55% of the stock is currently owned by institutional investors.

About NY MTG TR INC/SH

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related and residential housing-related assets in the United States. Its investment portfolio includes structured multi-family property investments, such as multi-family commercial mortgage-backed securities and preferred equity in, and mezzanine loans to owners of multi-family properties; residential mortgage loans, including distressed residential mortgage loans, non- qualified mortgage loans, second mortgages, and other residential mortgage loans; non-agency residential mortgage-backed securities (RMBS); agency RMBS; and other mortgage-related and residential housing-related assets.

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Analyst Recommendations for NY MTG TR INC/SH (NASDAQ:NYMT)

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