New York Mortgage Trust (NASDAQ:NYMT) Upgraded by StockNews.com to “Hold”

New York Mortgage Trust (NASDAQ:NYMT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, Janney Montgomery Scott initiated coverage on New York Mortgage Trust in a research note on Tuesday, August 13th. They set a “neutral” rating and a $7.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, New York Mortgage Trust has an average rating of “Hold” and a consensus price target of $7.75.

New York Mortgage Trust Trading Up 2.2 %

NASDAQ NYMT traded up $0.14 on Thursday, reaching $6.48. 326,693 shares of the company were exchanged, compared to its average volume of 576,569. The business’s fifty day moving average price is $6.42 and its 200 day moving average price is $6.52. The stock has a market capitalization of $591.16 million, a P/E ratio of -3.50 and a beta of 1.94. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 6.30. New York Mortgage Trust has a fifty-two week low of $5.51 and a fifty-two week high of $9.68.

Hedge Funds Weigh In On New York Mortgage Trust

Several large investors have recently modified their holdings of the business. EMG Holdings L.P. lifted its stake in New York Mortgage Trust by 103.8% during the 2nd quarter. EMG Holdings L.P. now owns 1,199,850 shares of the real estate investment trust’s stock worth $7,007,000 after acquiring an additional 610,971 shares in the last quarter. Waterfall Asset Management LLC acquired a new position in New York Mortgage Trust during the 2nd quarter worth about $1,727,000. Van ECK Associates Corp lifted its stake in New York Mortgage Trust by 35.8% during the 2nd quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust’s stock worth $4,592,000 after acquiring an additional 207,344 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in New York Mortgage Trust by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock worth $13,032,000 after acquiring an additional 132,162 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in New York Mortgage Trust during the 2nd quarter worth about $630,000. Institutional investors and hedge funds 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.