New York Mortgage Trust (NASDAQ:NYMT) has been given a $6.00 price objective by investment analysts at B. Riley in a note issued to investors on Thursday. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. B. Riley’s target price would indicate a potential upside of 6.01% from the company’s previous close.
NYMT has been the topic of several other research reports. Maxim Group decreased their price target on New York Mortgage Trust from $6.50 to $6.25 and set a “buy” rating on the stock in a research note on Wednesday. Zacks Investment Research raised New York Mortgage Trust from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, November 8th. BidaskClub lowered New York Mortgage Trust from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 21st. TheStreet raised New York Mortgage Trust from a “d+” rating to a “c” rating in a research note on Thursday, November 2nd. Finally, Keefe, Bruyette & Woods set a $6.00 price target on New York Mortgage Trust and gave the stock a “hold” rating in a research note on Sunday, November 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. New York Mortgage Trust currently has an average rating of “Hold” and an average target price of $6.25.
Shares of New York Mortgage Trust (NASDAQ:NYMT) opened at $5.66 on Thursday. New York Mortgage Trust has a twelve month low of $5.35 and a twelve month high of $6.69. The firm has a market capitalization of $619.67, a P/E ratio of 8.58 and a beta of 1.18. The company has a debt-to-equity ratio of 13.26, a current ratio of 71.04 and a quick ratio of 71.04.
A number of hedge funds have recently bought and sold shares of NYMT. Two Sigma Advisers LP purchased a new stake in New York Mortgage Trust in the 4th quarter valued at approximately $108,000. SG Americas Securities LLC purchased a new stake in New York Mortgage Trust in the 3rd quarter valued at approximately $115,000. Koch Industries Inc. purchased a new stake in New York Mortgage Trust in the 4th quarter valued at approximately $152,000. Fox Run Management L.L.C. purchased a new stake in New York Mortgage Trust in the 4th quarter valued at approximately $164,000. Finally, UBS Asset Management Americas Inc. lifted its stake in New York Mortgage Trust by 0.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 28,879 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 93 shares in the last quarter. 38.10% of the stock is currently 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.
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