New York Mortgage Trust (NASDAQ:NYMT) Rating Lowered to “Sell” at StockNews.com

New York Mortgage Trust (NASDAQ:NYMT) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Separately, Janney Montgomery Scott started coverage on shares of New York Mortgage Trust in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, New York Mortgage Trust currently has a consensus rating of “Hold” and an average price target of $7.75.

New York Mortgage Trust Trading Down 2.4 %

Shares of NYMT stock opened at $5.80 on Tuesday. The stock has a 50-day simple moving average of $5.93 and a 200 day simple moving average of $6.13. The stock has a market capitalization of $525.36 million, a P/E ratio of -17.58 and a beta of 1.94. New York Mortgage Trust has a fifty-two week low of $5.14 and a fifty-two week high of $9.67. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 7.24.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Waterfall Asset Management LLC acquired a new position in New York Mortgage Trust in the 2nd quarter worth approximately $1,727,000. Los Angeles Capital Management LLC purchased a new stake in shares of New York Mortgage Trust in the second quarter valued at $630,000. AQR Capital Management LLC acquired a new stake in shares of New York Mortgage Trust in the second quarter worth $83,000. Sequoia Financial Advisors LLC purchased a new position in shares of New York Mortgage Trust during the third quarter valued at $76,000. Finally, Sei Investments Co. raised its position in New York Mortgage Trust by 11.8% during the first quarter. Sei Investments Co. now owns 73,072 shares of the real estate investment trust’s stock valued at $526,000 after buying an additional 7,728 shares during the period. 54.89% of the stock is owned by hedge funds and other 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.