New York Mortgage Trust (NASDAQ:NYMT) Trading Down 3.8%

Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) dropped 3.8% during trading on Thursday . The stock traded as low as $5.86 and last traded at $5.88. Approximately 334,718 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 626,541 shares. The stock had previously closed at $6.11.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NYMT shares. B. Riley reiterated a “buy” rating and issued a $11.00 price target (down previously from $15.00) on shares of New York Mortgage Trust in a report on Monday, March 25th. UBS Group decreased their price target on shares of New York Mortgage Trust from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Keefe, Bruyette & Woods reduced their target price on shares of New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Finally, StockNews.com lowered shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

New York Mortgage Trust Trading Up 2.2 %

The company has a debt-to-equity ratio of 5.03, a current ratio of 4.02 and a quick ratio of 4.02. The business’s fifty day simple moving average is $6.20 and its 200 day simple moving average is $7.19.

New York Mortgage Trust (NASDAQ:NYMT) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.42). The company had revenue of $83.89 million during the quarter, compared to the consensus estimate of $19.64 million. New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. During the same period in the previous year, the firm posted $0.11 EPS. Sell-side analysts forecast that New York Mortgage Trust, Inc. will post -0.46 EPS for the current fiscal year.

New York Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.70%. The ex-dividend date of this dividend is Thursday, June 27th. New York Mortgage Trust’s dividend payout ratio is presently -43.24%.

Institutional Investors Weigh In On New York Mortgage Trust

A number of institutional investors have recently modified their holdings of NYMT. Kestra Private Wealth Services LLC bought a new stake in shares of New York Mortgage Trust during the 4th quarter valued at about $115,000. Sax Wealth Advisors LLC bought a new stake in shares of New York Mortgage Trust during the 1st quarter valued at about $168,000. SageView Advisory Group LLC bought a new stake in shares of New York Mortgage Trust during the 1st quarter valued at about $178,000. Teacher Retirement System of Texas acquired a new position in New York Mortgage Trust during the 4th quarter valued at about $201,000. Finally, SG Americas Securities LLC boosted its stake in New York Mortgage Trust by 9.1% during the 4th quarter. SG Americas Securities LLC now owns 23,802 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 1,979 shares during the period. Institutional investors own 54.89% of the company’s stock.

About New York Mortgage Trust

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.