New York Mortgage Trust (NASDAQ:NYMT) Downgraded by StockNews.com to "Sell"

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Friday.

Separately, Janney Montgomery Scott assumed coverage on shares of New York Mortgage Trust in a research report on Tuesday, August 13th. They issued a "neutral" rating and a $7.00 price target for the company. One 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. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $7.75.

New York Mortgage Trust Stock Up 1.2 %

New York Mortgage Trust stock traded up $0.07 during mid-day trading on Friday, reaching $5.96. The stock had a trading volume of 697,009 shares, compared to its average volume of 916,048. The firm has a market capitalization of $539.86 million, a PE ratio of -18.06 and a beta of 1.94. New York Mortgage Trust has a fifty-two week low of $5.14 and a fifty-two week high of $9.67. The stock's 50-day simple moving average is $6.03 and its 200-day simple moving average is $6.19. The company has a debt-to-equity ratio of 7.24, a quick ratio of 6.46 and a current ratio of 8.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. EMG Holdings L.P. increased its stake in New York Mortgage Trust by 103.8% in the 2nd quarter. EMG Holdings L.P. now owns 1,199,850 shares of the real estate investment trust's stock valued at $7,007,000 after buying an additional 610,971 shares during the last quarter. Waterfall Asset Management LLC bought a new stake in New York Mortgage Trust during the second quarter worth $1,727,000. Van ECK Associates Corp boosted its position in New York Mortgage Trust by 35.8% in the second quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust's stock worth $4,592,000 after purchasing an additional 207,344 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in New York Mortgage Trust in the second quarter worth $630,000. Finally, Bank of New York Mellon Corp increased its position in shares of New York Mortgage Trust by 5.9% during the 2nd 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 last quarter. 54.89% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.