NY Mtg Tr Inc/SH (NYMT) Upgraded to “Hold” by Zacks Investment Research

NY Mtg Tr Inc/SH (NASDAQ:NYMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “

Other analysts also recently issued reports about the company. ValuEngine upgraded NY Mtg Tr Inc/SH from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. BidaskClub upgraded NY Mtg Tr Inc/SH from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. LADENBURG THALM/SH SH downgraded NY Mtg Tr Inc/SH from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. Finally, Maxim Group reiterated a “buy” rating and set a $6.75 price target (up from $6.25) on shares of NY Mtg Tr Inc/SH in a report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $6.35.

NASDAQ NYMT opened at $6.27 on Tuesday. The firm has a market capitalization of $877.47 million, a P/E ratio of 9.50 and a beta of 1.13. NY Mtg Tr Inc/SH has a twelve month low of $5.35 and a twelve month high of $6.54. The company has a debt-to-equity ratio of 14.47, a current ratio of 86.93 and a quick ratio of 86.93.

NY Mtg Tr Inc/SH (NASDAQ:NYMT) last issued its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. NY Mtg Tr Inc/SH had a return on equity of 17.07% and a net margin of 24.78%. The firm had revenue of $17.50 million during the quarter. sell-side analysts anticipate that NY Mtg Tr Inc/SH will post 0.24 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its position in shares of NY Mtg Tr Inc/SH by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 267,801 shares of the real estate investment trust’s stock worth $1,609,000 after purchasing an additional 9,306 shares in the last quarter. Legal & General Group Plc boosted its position in shares of NY Mtg Tr Inc/SH by 628.2% during the 1st quarter. Legal & General Group Plc now owns 209,389 shares of the real estate investment trust’s stock worth $1,238,000 after purchasing an additional 180,633 shares in the last quarter. Aperio Group LLC boosted its position in shares of NY Mtg Tr Inc/SH by 18.1% during the 1st quarter. Aperio Group LLC now owns 78,322 shares of the real estate investment trust’s stock worth $464,000 after purchasing an additional 12,010 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of NY Mtg Tr Inc/SH during the 1st quarter worth about $429,000. Finally, Principal Financial Group Inc. boosted its position in shares of NY Mtg Tr Inc/SH by 5,434.8% during the 1st quarter. Principal Financial Group Inc. now owns 873,554 shares of the real estate investment trust’s stock worth $5,181,000 after purchasing an additional 857,771 shares in the last quarter. Hedge funds and other institutional investors own 44.89% 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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