New York Mortgage Trust (NASDAQ:NYMT) Trading Up 3.9% - Here's What Happened

New York Mortgage Trust, Inc. (NASDAQ:NYMT - Get Free Report) shares traded up 3.9% during trading on Monday . The company traded as high as $6.54 and last traded at $6.55. 440,969 shares were traded during trading, a decline of 35% from the average session volume of 679,272 shares. The stock had previously closed at $6.30.

Analysts Set New Price Targets

Several brokerages have commented on NYMT. StockNews.com upgraded shares of New York Mortgage Trust from a "sell" rating to a "hold" rating in a research report on Sunday, March 2nd. B. Riley cut their target price on New York Mortgage Trust from $11.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.00.

New York Mortgage Trust Stock Performance

The stock's 50-day moving average is $6.48 and its 200 day moving average is $6.16. The company has a debt-to-equity ratio of 8.33, a quick ratio of 8.25 and a current ratio of 11.17. The firm has a market cap of $532.53 million, a P/E ratio of -5.16 and a beta of 1.93.

New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.47). New York Mortgage Trust had a negative return on equity of 1.39% and a negative net margin of 15.46%. The business had revenue of $26.71 million for the quarter, compared to analyst estimates of $20.06 million. On average, research analysts predict that New York Mortgage Trust, Inc. will post 0.51 earnings per share for the current year.

New York Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Monday, March 31st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 13.61%. The ex-dividend date is Monday, March 31st. New York Mortgage Trust's dividend payout ratio is -70.18%.

Hedge Funds Weigh In On New York Mortgage Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of New York Mortgage Trust by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,363 shares of the real estate investment trust's stock valued at $1,099,000 after purchasing an additional 24,849 shares in the last quarter. Two Sigma Advisers LP bought a new stake in New York Mortgage Trust in the 4th quarter valued at approximately $454,000. Two Sigma Investments LP boosted its position in New York Mortgage Trust by 2,225.9% during the 4th quarter. Two Sigma Investments LP now owns 251,406 shares of the real estate investment trust's stock worth $1,524,000 after acquiring an additional 240,597 shares during the last quarter. State of Wyoming bought a new position in shares of New York Mortgage Trust during the 4th quarter worth approximately $112,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of New York Mortgage Trust in the fourth quarter valued at approximately $103,000. 54.89% of the stock is owned by institutional investors and hedge funds.

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.