NY MTG TR INC/SH (NASDAQ:NYMT) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of NY MTG TR INC/SH (NASDAQ:NYMT) from a hold rating to a buy rating in a research report report published on Tuesday, BidAskClub reports.

Other analysts have also recently issued reports about the stock. Nomura reissued a buy rating and set a $4.50 target price on shares of NY MTG TR INC/SH in a report on Thursday, April 30th. Zacks Investment Research cut shares of NY MTG TR INC/SH from a hold rating to a sell rating in a report on Wednesday, June 3rd. Credit Suisse Group raised shares of NY MTG TR INC/SH from an underperform rating to a neutral rating in a report on Friday, April 24th. Barclays raised shares of NY MTG TR INC/SH from an underweight rating to an equal weight rating and set a $2.50 price objective on the stock in a report on Wednesday, May 27th. Finally, ValuEngine raised shares of NY MTG TR INC/SH from a hold rating to a buy rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $4.83.

Shares of NASDAQ:NYMT opened at $2.61 on Tuesday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -2.04 and a beta of 1.90. NY MTG TR INC/SH has a 1-year low of $0.98 and a 1-year high of $6.47. The company’s fifty day moving average is $2.38 and its two-hundred day moving average is $4.05. The company has a debt-to-equity ratio of 1.79, a quick ratio of 92.36 and a current ratio of 92.36.

NY MTG TR INC/SH (NASDAQ:NYMT) last issued its earnings results on Thursday, May 21st. The real estate investment trust reported ($1.71) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.98) by ($0.73). The business had revenue of $47.08 million for the quarter, compared to analyst estimates of $46.50 million. NY MTG TR INC/SH had a negative return on equity of 30.87% and a net margin of 23.67%. Sell-side analysts expect that NY MTG TR INC/SH will post -1.59 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Wednesday, July 1st will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 7.66%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC grew its position in NY MTG TR INC/SH by 53.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 15,953 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 5,587 shares in the last quarter. Calton & Associates Inc. boosted its position in shares of NY MTG TR INC/SH by 61.9% during the 1st quarter. Calton & Associates Inc. now owns 16,188 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 6,188 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of NY MTG TR INC/SH by 29.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,389 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 6,273 shares in the last quarter. Amalgamated Bank boosted its position in shares of NY MTG TR INC/SH by 28.8% during the 4th quarter. Amalgamated Bank now owns 41,613 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 9,302 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of NY MTG TR INC/SH by 1.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,218,585 shares of the real estate investment trust’s stock valued at $1,889,000 after purchasing an additional 17,706 shares in the last quarter. Hedge funds and other institutional investors own 53.38% of the company’s stock.

About NY MTG TR INC/SH

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related and residential housing-related assets in the United States. Its investment portfolio includes structured multi-family property investments, such as multi-family commercial mortgage-backed securities and preferred equity in, and mezzanine loans to owners of multi-family properties; residential mortgage loans, including distressed residential mortgage loans, non- qualified mortgage loans, second mortgages, and other residential mortgage loans; non-agency residential mortgage-backed securities (RMBS); agency RMBS; and other mortgage-related and residential housing-related assets.

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Analyst Recommendations for NY MTG TR INC/SH (NASDAQ:NYMT)

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