New York Mortgage Trust (NYMT) Stock Rating Lowered by BidaskClub

New York Mortgage Trust (NASDAQ:NYMT) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday.

Several other research firms have also recently weighed in on NYMT. Maxim Group reiterated a “buy” rating and issued a $6.50 target price on shares of New York Mortgage Trust in a research note on Monday, November 6th. TheStreet raised shares of New York Mortgage Trust from a “d+” rating to a “c” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Keefe, Bruyette & Woods set a $6.00 price target on shares of New York Mortgage Trust and gave the stock a “hold” rating in a research report on Sunday, November 12th. Finally, B. Riley reissued a “neutral” rating and issued a $6.25 price target on shares of New York Mortgage Trust in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.35.

Shares of New York Mortgage Trust (NASDAQ NYMT) opened at $6.23 on Thursday. The company has a debt-to-equity ratio of 13.26, a current ratio of 71.04 and a quick ratio of 71.04. New York Mortgage Trust has a one year low of $5.90 and a one year high of $6.85. The firm has a market cap of $696.85, a PE ratio of 11.54 and a beta of 1.37.

A number of large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in New York Mortgage Trust in the third quarter worth about $469,000. California Public Employees Retirement System increased its holdings in shares of New York Mortgage Trust by 6.9% during the third quarter. California Public Employees Retirement System now owns 549,254 shares of the real estate investment trust’s stock worth $3,378,000 after buying an additional 35,554 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of New York Mortgage Trust by 1.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 592,279 shares of the real estate investment trust’s stock worth $3,643,000 after buying an additional 8,190 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of New York Mortgage Trust by 46.8% during the third quarter. Wells Fargo & Company MN now owns 173,658 shares of the real estate investment trust’s stock worth $1,068,000 after buying an additional 55,357 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of New York Mortgage Trust by 10.6% during the third quarter. Van ECK Associates Corp now owns 638,266 shares of the real estate investment trust’s stock worth $3,925,000 after buying an additional 61,102 shares in the last quarter. 37.80% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for New York Mortgage Trust (NASDAQ:NYMT)

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