B. Riley Lowers New York Mortgage Trust (NASDAQ:NYMT) Price Target to $8.00

New York Mortgage Trust (NASDAQ:NYMT - Free Report) had its price target cut by B. Riley from $11.00 to $8.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the real estate investment trust's stock.

Separately, StockNews.com lowered shares of New York Mortgage Trust from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.00.

New York Mortgage Trust Trading Down 2.9 %

NASDAQ:NYMT traded down $0.18 on Tuesday, hitting $6.08. The stock had a trading volume of 977,337 shares, compared to its average volume of 665,325. The stock has a market cap of $550.72 million, a price-to-earnings ratio of -18.42 and a beta of 1.92. New York Mortgage Trust has a 1-year low of $5.14 and a 1-year high of $8.61. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 7.24. The company has a fifty day moving average price of $6.04 and a two-hundred day moving average price of $6.15.

New York Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Friday, December 20th will be issued a $0.20 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.16%. New York Mortgage Trust's payout ratio is currently -242.42%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of New York Mortgage Trust by 1.6% in the third quarter. State Street Corp now owns 3,495,306 shares of the real estate investment trust's stock valued at $22,820,000 after acquiring an additional 54,597 shares during the period. Geode Capital Management LLC boosted its stake in New York Mortgage Trust by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,261,614 shares of the real estate investment trust's stock worth $14,320,000 after purchasing an additional 10,017 shares during the period. EMG Holdings L.P. grew its position in New York Mortgage Trust by 103.8% during the 2nd quarter. EMG Holdings L.P. now owns 1,199,850 shares of the real estate investment trust's stock worth $7,007,000 after purchasing an additional 610,971 shares during the last quarter. Bank of New York Mellon Corp increased its stake in New York Mortgage Trust by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 760,054 shares of the real estate investment trust's stock valued at $4,439,000 after purchasing an additional 42,007 shares during the period. Finally, Waterfall Asset Management LLC purchased a new stake in shares of New York Mortgage Trust in the second quarter valued at about $1,727,000. Institutional investors and hedge funds own 54.89% of the company's stock.

New York Mortgage Trust Company Profile

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, including business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgage, residential housing, and credit-related assets.