Keefe, Bruyette & Woods Analysts Give New York Mortgage Trust, Inc. (NYMT) a $6.00 Price Target

Keefe, Bruyette & Woods set a $6.00 price objective on New York Mortgage Trust, Inc. (NASDAQ:NYMT) in a research report report published on Sunday. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of New York Mortgage Trust from a hold rating to a buy rating in a research note on Tuesday, July 25th. TheStreet downgraded shares of New York Mortgage Trust from a c rating to a d+ rating in a research note on Friday, August 4th. Zacks Investment Research downgraded shares of New York Mortgage Trust from a hold rating to a sell rating in a research note on Tuesday, August 22nd. B. Riley reaffirmed a neutral rating and issued a $6.25 target price on shares of New York Mortgage Trust in a research note on Tuesday, November 7th. Finally, Maxim Group reaffirmed 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $6.35.

Shares of New York Mortgage Trust (NASDAQ:NYMT) opened at $6.30 on Friday. The firm has a market cap of $699.09, a P/E ratio of 11.57 and a beta of 1.36. 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 $7.04.

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The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 25th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 12.70%. The ex-dividend date of this dividend was Friday, September 22nd. New York Mortgage Trust’s payout ratio is currently 148.15%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. grew its position in 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 valued at $3,643,000 after acquiring an additional 8,190 shares during the last quarter. Wells Fargo & Company MN grew its position in 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 valued at $1,068,000 after acquiring an additional 55,357 shares during the last quarter. Van ECK Associates Corp grew its position in 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 valued at $3,925,000 after acquiring an additional 61,102 shares during the last quarter. SG Americas Securities LLC bought a new position in New York Mortgage Trust during the third quarter valued at approximately $115,000. Finally, Global X MANAGEMENT CO LLC grew its position in New York Mortgage Trust by 4.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 2,780,156 shares of the real estate investment trust’s stock valued at $17,098,000 after acquiring an additional 105,844 shares during the last quarter. Institutional investors and hedge funds own 36.21% of the company’s stock.

New York Mortgage Trust Company Profile

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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