New York Mortgage Trust (NASDAQ:NYMT - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Friday.
Separately, B. Riley decreased their price objective on shares of New York Mortgage Trust from $11.00 to $8.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $7.00.
Check Out Our Latest Stock Report on New York Mortgage Trust
New York Mortgage Trust Price Performance
Shares of NYMT stock traded up $0.06 on Friday, hitting $6.15. 351,040 shares of the stock traded hands, compared to its average volume of 520,654. The firm has a market cap of $557.07 million, a price-to-earnings ratio of -18.64 and a beta of 1.92. New York Mortgage Trust has a 52 week low of $5.14 and a 52 week high of $7.64. The firm has a 50 day simple moving average of $6.05 and a two-hundred day simple moving average of $6.09. The company has a debt-to-equity ratio of 7.24, a current ratio of 8.25 and a quick ratio of 8.25.
Hedge Funds Weigh In On New York Mortgage Trust
Several institutional investors have recently bought and sold shares of NYMT. AQR Capital Management LLC purchased a new position in New York Mortgage Trust during the second quarter valued at $83,000. The Manufacturers Life Insurance Company grew its stake in shares of New York Mortgage Trust by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,132 shares of the real estate investment trust's stock worth $211,000 after buying an additional 1,901 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of New York Mortgage Trust by 90.1% in the 3rd quarter. SG Americas Securities LLC now owns 50,106 shares of the real estate investment trust's stock worth $317,000 after buying an additional 23,750 shares in the last quarter. Calton & Associates Inc. purchased a new position in shares of New York Mortgage Trust in the 3rd quarter worth $82,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of New York Mortgage Trust in the 3rd quarter worth $76,000. 54.89% of the stock is owned by hedge funds and other institutional investors.
About New York Mortgage Trust
(
Get Free Report)
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.
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