New York Mortgage Trust, Inc. (NYMT) Price Target Increased to $6.00 by Analysts at Barclays PLC

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.

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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.

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