New York Mortgage Trust (NASDAQ:NYMT) Stock Rating Upgraded by StockNews.com

New York Mortgage Trust (NASDAQ:NYMT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, Janney Montgomery Scott initiated coverage on shares of New York Mortgage Trust in a research note on Tuesday, August 13th. They set a “neutral” rating and a $7.00 target price on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.75.

New York Mortgage Trust Price Performance

Shares of NYMT opened at $6.61 on Thursday. The firm has a market cap of $598.73 million, a PE ratio of -3.57 and a beta of 1.94. New York Mortgage Trust has a 52-week low of $5.51 and a 52-week high of $9.68. The company has a debt-to-equity ratio of 6.30, a quick ratio of 6.46 and a current ratio of 6.46. The business’s 50 day moving average price is $6.44 and its two-hundred day moving average price is $6.52.

Hedge Funds Weigh In On New York Mortgage Trust

Several large investors have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its holdings in New York Mortgage Trust by 19.7% during the fourth quarter. New York State Common Retirement Fund now owns 34,025 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 5,594 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of New York Mortgage Trust by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock worth $13,032,000 after purchasing an additional 132,162 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of New York Mortgage Trust in the 4th quarter worth approximately $201,000. EMG Holdings L.P. lifted its stake in New York Mortgage Trust by 192.1% in the fourth quarter. EMG Holdings L.P. now owns 555,930 shares of the real estate investment trust’s stock valued at $4,742,000 after purchasing an additional 365,622 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in New York Mortgage Trust by 1.3% during the first quarter. Van ECK Associates Corp now owns 578,929 shares of the real estate investment trust’s stock valued at $4,168,000 after purchasing an additional 7,316 shares during the period. 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.