New York Mortgage Trust (NASDAQ:NYMT) Shares Gap Down to $5.91

New York Mortgage Trust, Inc. (NASDAQ:NYMT)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $5.91, but opened at $5.76. New York Mortgage Trust shares last traded at $5.76, with a volume of 40,842 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NYMT. Keefe, Bruyette & Woods lowered their target price on New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. B. Riley reissued a “buy” rating and set a $11.00 target price (down from $15.00) on shares of New York Mortgage Trust in a research report on Monday, March 25th. StockNews.com lowered shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, UBS Group decreased their price objective on shares of New York Mortgage Trust from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th.

New York Mortgage Trust Trading Up 2.2 %

The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 5.03. The firm has a market cap of $532.78 million, a P/E ratio of -3.16 and a beta of 1.91. The business’s 50 day moving average is $6.20 and its 200-day moving average is $7.18.

New York Mortgage Trust (NASDAQ:NYMT) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.42). New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. The company had revenue of $83.89 million during the quarter, compared to the consensus estimate of $19.64 million. During the same period in the previous year, the firm posted $0.11 EPS. As a group, analysts forecast that New York Mortgage Trust, Inc. will post -0.46 earnings per share for the current fiscal year.

New York Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 13.70%. The ex-dividend date is Thursday, June 27th. New York Mortgage Trust’s payout ratio is currently -43.24%.

Institutional Investors Weigh In On New York Mortgage Trust

Institutional investors have recently made changes to their positions in the company. Kestra Private Wealth Services LLC bought a new stake in New York Mortgage Trust during the fourth quarter valued at $115,000. Sax Wealth Advisors LLC acquired a new position in New York Mortgage Trust in the first quarter valued at approximately $168,000. Teacher Retirement System of Texas acquired a new position in New York Mortgage Trust during the 4th quarter valued at approximately $201,000. SG Americas Securities LLC grew its stake in New York Mortgage Trust by 9.1% during the 4th quarter. SG Americas Securities LLC now owns 23,802 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 1,979 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in New York Mortgage Trust in the first quarter worth $178,000. 54.89% of the stock is currently 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.