New York Mortgage Trust, Inc. (NYMT) Receives Consensus Recommendation of “Hold” from Brokerages

New York Mortgage Trust, Inc. (NASDAQ:NYMT) has earned an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $6.35.

A number of analysts have recently issued reports on NYMT shares. Zacks Investment Research upgraded New York Mortgage Trust from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, November 8th. BidaskClub upgraded New York Mortgage Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Maxim Group reiterated a “buy” rating and set a $6.50 price target on shares of New York Mortgage Trust in a research report on Monday, November 6th. TheStreet upgraded New York Mortgage Trust from a “d+” rating to a “c” rating in a research report on Thursday, November 2nd. Finally, Barclays lifted their price target on New York Mortgage Trust from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 10th.

Shares of New York Mortgage Trust (NYMT) opened at $6.39 on Monday. The stock has a market capitalization of $714.75, a PE ratio of 11.83 and a beta of 1.37. The company has a current ratio of 71.04, a quick ratio of 71.04 and a debt-to-equity ratio of 13.26. New York Mortgage Trust has a 12-month low of $5.90 and a 12-month high of $7.04.

A number of large investors have recently added to or reduced their stakes in NYMT. Teachers Advisors LLC lifted its position in New York Mortgage Trust by 2.1% in the 1st quarter. Teachers Advisors LLC now owns 185,746 shares of the real estate investment trust’s stock worth $1,146,000 after buying an additional 3,870 shares during the last quarter. Vanguard Group Inc. lifted its position in New York Mortgage Trust by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 4,515,713 shares of the real estate investment trust’s stock worth $27,862,000 after buying an additional 119,586 shares during the last quarter. Geode Capital Management LLC lifted its position in New York Mortgage Trust by 11.5% in the 1st quarter. Geode Capital Management LLC now owns 918,770 shares of the real estate investment trust’s stock worth $5,668,000 after buying an additional 94,769 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in New York Mortgage Trust by 5.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 420,651 shares of the real estate investment trust’s stock worth $2,596,000 after buying an additional 23,256 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in New York Mortgage Trust by 134.2% in the 1st quarter. Bank of America Corp DE now owns 135,853 shares of the real estate investment trust’s stock worth $838,000 after buying an additional 77,857 shares during the last quarter. Institutional investors own 37.76% of the company’s stock.

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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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