New York Mortgage Trust (NASDAQ:NYMT) Stock Price Up 4.9% - Time to Buy?

New York Mortgage Trust, Inc. (NASDAQ:NYMT - Get Free Report) shares were up 4.9% on Tuesday . The stock traded as high as $6.05 and last traded at $6.05. Approximately 533,505 shares traded hands during trading, a decline of 17% from the average daily volume of 645,535 shares. The stock had previously closed at $5.77.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of New York Mortgage Trust from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.75.

New York Mortgage Trust Stock Up 5.0 %

The company has a market cap of $548.91 million, a P/E ratio of -18.36 and a beta of 1.94. The company has a debt-to-equity ratio of 7.24, a current ratio of 8.25 and a quick ratio of 8.25. The company has a 50 day moving average of $5.94 and a 200-day moving average of $6.15.

New York Mortgage Trust Dividend Announcement

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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 13.20%. The ex-dividend date of this dividend is Friday, December 20th. New York Mortgage Trust's payout ratio is -242.42%.

Institutional Investors Weigh In On New York Mortgage Trust

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised 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 buying an additional 42,007 shares in the last quarter. Van ECK Associates Corp raised its position in New York Mortgage Trust by 35.8% during the second quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust's stock valued at $4,592,000 after purchasing an additional 207,344 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in New York Mortgage Trust during the second quarter worth about $630,000. Intech Investment Management LLC purchased a new position in shares of New York Mortgage Trust in the 2nd quarter worth about $122,000. Finally, EMG Holdings L.P. increased its position in shares of 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 valued at $7,007,000 after purchasing an additional 610,971 shares during the last quarter. 54.89% of the stock is currently owned by institutional investors.

About New York Mortgage Trust

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.