New York Mortgage Trust (NASDAQ:NYMT) Rating Increased to Hold at StockNews.com

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

Separately, Janney Montgomery Scott began coverage on New York Mortgage Trust in a report on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 target price for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New York Mortgage Trust has an average rating of “Hold” and a consensus target price of $7.75.

New York Mortgage Trust Trading Down 0.6 %

Shares of New York Mortgage Trust stock opened at $6.53 on Friday. The stock has a market capitalization of $595.72 million, a PE ratio of -3.53 and a beta of 1.94. The stock has a 50 day moving average price of $6.49 and a two-hundred day moving average price of $6.48. New York Mortgage Trust has a 52 week low of $5.51 and a 52 week high of $9.67. The company has a debt-to-equity ratio of 6.30, a quick ratio of 6.46 and a current ratio of 6.46.

Hedge Funds Weigh In On New York Mortgage Trust

Several hedge funds have recently bought and sold shares of NYMT. Evergreen Capital Management LLC bought a new position in shares of New York Mortgage Trust in the second quarter worth approximately $83,000. AQR Capital Management LLC purchased a new position in New York Mortgage Trust during the 2nd quarter valued at $83,000. Intech Investment Management LLC bought a new position in New York Mortgage Trust in the second quarter worth about $122,000. Squarepoint Ops LLC bought a new position in shares of New York Mortgage Trust in the 2nd quarter worth approximately $136,000. Finally, SG Americas Securities LLC purchased a new position in shares of New York Mortgage Trust in the 2nd quarter valued at approximately $154,000. Hedge funds and other 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.