NY MTG TR INC/SH (NYMT) Rating Lowered to Hold at Zacks Investment Research

NY MTG TR INC/SH (NASDAQ:NYMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “New York Mortgage Trust is a real estate investment trust focused on owning and managing a leveraged portfolio of residential mortgage securities and a mortgage origination business. The mortgage portfolio is comprised largely of prime adjustable-rate and hybrid mortgage loans and securities, much of which, over time will be originated by NYMT’s wholly owned mortgage origination business, The New York Mortgage Company, a taxable real estate investment trust subsidiary. “

Several other research analysts have also recently weighed in on the company. BidaskClub raised NY MTG TR INC/SH from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 20th. ValuEngine raised NY MTG TR INC/SH from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Maxim Group reaffirmed a “buy” rating and set a $6.75 price target on shares of NY MTG TR INC/SH in a research report on Tuesday, November 6th. Finally, Raymond James began coverage on NY MTG TR INC/SH in a research report on Friday, October 12th. They set a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. NY MTG TR INC/SH presently has a consensus rating of “Hold” and an average target price of $6.58.

NYMT stock opened at $6.14 on Tuesday. The company has a debt-to-equity ratio of 13.55, a quick ratio of 88.95 and a current ratio of 88.96. NY MTG TR INC/SH has a 1-year low of $5.35 and a 1-year high of $6.54. The firm has a market capitalization of $950.08 million, a price-to-earnings ratio of 9.30 and a beta of 0.86.

NY MTG TR INC/SH (NASDAQ:NYMT) last posted its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.05. NY MTG TR INC/SH had a return on equity of 17.13% and a net margin of 25.07%. The business had revenue of $19.60 million for the quarter, compared to analysts’ expectations of $17.10 million. As a group, research analysts predict that NY MTG TR INC/SH will post 0.79 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management lifted its holdings in NY MTG TR INC/SH by 1.2% during the third quarter. LSV Asset Management now owns 3,441,590 shares of the real estate investment trust’s stock worth $20,924,000 after buying an additional 39,279 shares during the period. Bank of New York Mellon Corp lifted its stake in NY MTG TR INC/SH by 24.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,570,469 shares of the real estate investment trust’s stock valued at $9,549,000 after buying an additional 305,262 shares in the last quarter. Claybrook Capital LLC lifted its stake in NY MTG TR INC/SH by 29.0% in the 3rd quarter. Claybrook Capital LLC now owns 356,135 shares of the real estate investment trust’s stock valued at $2,165,000 after buying an additional 80,000 shares in the last quarter. Rhumbline Advisers raised its holdings in NY MTG TR INC/SH by 19.2% in the 3rd quarter. Rhumbline Advisers now owns 319,095 shares of the real estate investment trust’s stock valued at $1,940,000 after acquiring an additional 51,294 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in NY MTG TR INC/SH by 8.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 263,015 shares of the real estate investment trust’s stock valued at $1,599,000 after acquiring an additional 20,840 shares during the last quarter. Institutional investors own 52.43% of the company’s stock.

About NY MTG TR INC/SH

New York Mortgage Trust, Inc, a real estate investment trust (REIT), acquires, invests in, finances, and manages mortgage-related and residential housing-related, and financial assets in the United States. The company's investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets; non-agency residential mortgage-backed securities; multi-family commercial mortgage-backed securities; and preferred equities.

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