New York Mortgage Trust (NASDAQ:NYMT) Downgraded to Sell Rating by StockNews.com

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

Separately, Janney Montgomery Scott assumed coverage on New York Mortgage Trust in a report on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.75.

New York Mortgage Trust Stock Performance

New York Mortgage Trust stock traded up $0.07 during trading on Friday, hitting $5.96. The stock had a trading volume of 697,009 shares, compared to its average volume of 916,048. The company has a quick ratio of 6.46, a current ratio of 8.25 and a debt-to-equity ratio of 7.24. The stock’s 50 day moving average is $6.03 and its two-hundred day moving average is $6.19. New York Mortgage Trust has a 1 year low of $5.14 and a 1 year high of $9.67. The stock has a market cap of $539.86 million, a price-to-earnings ratio of -18.06 and a beta of 1.94.

Institutional Trading of New York Mortgage Trust

A number of institutional investors have recently added to or reduced their stakes in NYMT. Waterfall Asset Management LLC bought a new stake in shares of New York Mortgage Trust during the second quarter valued at about $1,727,000. Los Angeles Capital Management LLC bought a new position in New York Mortgage Trust in the 2nd quarter valued at $630,000. AQR Capital Management LLC purchased a new position in shares of New York Mortgage Trust during the 2nd quarter valued at $83,000. Sequoia Financial Advisors LLC bought a new position in shares of New York Mortgage Trust in the third quarter worth $76,000. Finally, Sei Investments Co. grew its position in New York Mortgage Trust by 11.8% during the first quarter. Sei Investments Co. now owns 73,072 shares of the real estate investment trust’s stock worth $526,000 after buying an additional 7,728 shares in the last quarter. 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.