B. Riley Lowers New York Mortgage Trust (NASDAQ:NYMT) Price Target to $8.00

New York Mortgage Trust (NASDAQ:NYMT) had its price objective lowered by equities research analysts at B. Riley from $11.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s price objective suggests a potential upside of 33.56% from the company’s previous close.

Separately, StockNews.com lowered shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One equities 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.00.

New York Mortgage Trust Price Performance

Shares of New York Mortgage Trust stock opened at $5.99 on Tuesday. The stock has a market capitalization of $542.57 million, a P/E ratio of -18.15 and a beta of 1.92. The business has a 50 day simple moving average of $6.05 and a two-hundred day simple moving average of $6.15. New York Mortgage Trust has a 12 month low of $5.14 and a 12 month high of $8.61. The company has a debt-to-equity ratio of 7.24, a current ratio of 8.25 and a quick ratio of 8.25.

Hedge Funds Weigh In On New York Mortgage Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. EMG Holdings L.P. raised its position in shares of 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 valued at $7,007,000 after buying an additional 610,971 shares during the period. Waterfall Asset Management LLC purchased a new stake in New York Mortgage Trust in the second quarter valued at $1,727,000. Barclays PLC grew its holdings in shares of New York Mortgage Trust by 347.4% during the 3rd quarter. Barclays PLC now owns 150,946 shares of the real estate investment trust’s stock worth $955,000 after purchasing an additional 117,206 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of New York Mortgage Trust during the 2nd quarter worth about $630,000. Finally, State Street Corp raised its holdings in New York Mortgage Trust by 1.6% in the 3rd quarter. State Street Corp now owns 3,495,306 shares of the real estate investment trust’s stock valued at $22,820,000 after buying an additional 54,597 shares during the period. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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.