New York Mortgage Trust, Inc. (NASDAQ:NYMT) had its target price hoisted by equities research analysts at Barclays PLC from $5.00 to $6.00 in a research note issued to investors on Tuesday. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays PLC’s target price suggests a potential downside of 3.38% from the company’s current price.
NYMT has been the subject of several other research reports. BidaskClub cut shares of New York Mortgage Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $6.00 price target on shares of New York Mortgage Trust and gave the company a “hold” rating in a report on Monday, August 14th. Zacks Investment Research raised shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, TheStreet lowered shares of New York Mortgage Trust from a “c” rating to a “d+” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.31.
New York Mortgage Trust (NASDAQ:NYMT) traded down 0.16% during mid-day trading on Tuesday, reaching $6.20. The company had a trading volume of 342,146 shares. New York Mortgage Trust has a 52-week low of $5.72 and a 52-week high of $7.04. The company’s 50 day moving average is $6.26 and its 200 day moving average is $6.27. The stock has a market capitalization of $693.72 million, a price-to-earnings ratio of 12.16 and a beta of 1.37.
New York Mortgage Trust (NASDAQ:NYMT) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The business had revenue of $15.71 million for the quarter, compared to the consensus estimate of $17.42 million. New York Mortgage Trust had a net margin of 19.62% and a return on equity of 10.05%. The business’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Equities analysts predict that New York Mortgage Trust will post $0.53 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This story was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.com-unik.info/2017/10/10/new-york-mortgage-trust-inc-nymt-price-target-increased-to-6-00-by-analysts-at-barclays-plc.html.
Several hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers acquired a new position in shares of New York Mortgage Trust in the 2nd quarter valued at $160,000. The Manufacturers Life Insurance Company grew its holdings in shares of New York Mortgage Trust by 5.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 90,638 shares of the real estate investment trust’s stock valued at $564,000 after buying an additional 4,923 shares during the period. State Street Corp grew its holdings in shares of New York Mortgage Trust by 5.8% in the 2nd quarter. State Street Corp now owns 2,325,571 shares of the real estate investment trust’s stock valued at $14,468,000 after buying an additional 126,981 shares during the period. Royal Bank of Canada grew its holdings in shares of New York Mortgage Trust by 27.1% in the 2nd quarter. Royal Bank of Canada now owns 465,612 shares of the real estate investment trust’s stock valued at $2,897,000 after buying an additional 99,163 shares during the period. Finally, QS Investors LLC grew its holdings in shares of New York Mortgage Trust by 56.6% in the 2nd quarter. QS Investors LLC now owns 30,424 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 10,999 shares during the period. 36.11% of the stock is owned by institutional investors.
About New York Mortgage Trust
New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.
What are top analysts saying about New York Mortgage Trust Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for New York Mortgage Trust Inc. and related companies.