New York Mortgage Trust (NASDAQ:NYMT) Reaches New 52-Week Low at $6.70

New York Mortgage Trust, Inc. (NASDAQ:NYMT)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.70 and last traded at $6.74, with a volume of 91875 shares trading hands. The stock had previously closed at $6.87.

Analysts Set New Price Targets

A number of research analysts have weighed in on NYMT shares. StockNews.com upgraded New York Mortgage Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. B. Riley restated a “buy” rating and issued a $11.00 price objective (down previously from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th.

New York Mortgage Trust Stock Performance

The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 4.21. The firm has a fifty day moving average price of $7.22 and a 200 day moving average price of $7.97.

New York Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, March 25th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $0.80 annualized dividend and a dividend yield of 11.76%. New York Mortgage Trust’s dividend payout ratio is presently -80.81%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Centiva Capital LP purchased a new stake in New York Mortgage Trust in the 4th quarter valued at about $35,000. Envestnet Asset Management Inc. purchased a new stake in New York Mortgage Trust in the 3rd quarter valued at about $36,000. Raymond James Financial Services Advisors Inc. purchased a new stake in New York Mortgage Trust in the 1st quarter valued at about $37,000. CI Private Wealth LLC purchased a new stake in New York Mortgage Trust in the 4th quarter valued at about $41,000. Finally, Belpointe Asset Management LLC raised its holdings in New York Mortgage Trust by 71.9% in the 1st quarter. Belpointe Asset Management LLC now owns 4,095 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,713 shares during the period. Hedge funds and other institutional investors own 54.89% of the company’s stock.

New York Mortgage Trust Company Profile

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.