B. Riley Cuts New York Mortgage Trust (NASDAQ:NYMT) Price Target to $8.00

New York Mortgage Trust (NASDAQ:NYMT) had its price target cut by B. Riley from $11.00 to $8.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Separately, StockNews.com downgraded New York Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.00.

New York Mortgage Trust Price Performance

NASDAQ:NYMT opened at $5.99 on Tuesday. The firm has a market capitalization of $542.57 million, a price-to-earnings ratio of -18.15 and a beta of 1.92. 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 business has a 50 day simple moving average of $6.05 and a 200-day simple moving average of $6.15. New York Mortgage Trust has a 1 year low of $5.14 and a 1 year high of $8.61.

New York Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Friday, December 20th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 13.36%. The ex-dividend date of this dividend is Friday, December 20th. New York Mortgage Trust’s payout ratio is currently -242.42%.

Institutional Trading of New York Mortgage Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. McIlrath & Eck LLC bought a new position in shares of New York Mortgage Trust in the third quarter worth about $62,000. Sequoia Financial Advisors LLC bought a new position in New York Mortgage Trust in the 3rd quarter worth about $76,000. Calton & Associates Inc. bought a new position in New York Mortgage Trust in the 3rd quarter worth about $82,000. Evergreen Capital Management LLC purchased a new position in shares of New York Mortgage Trust during the second quarter worth approximately $83,000. Finally, AQR Capital Management LLC bought a new stake in shares of New York Mortgage Trust during the second quarter valued at approximately $83,000. Hedge funds and other institutional investors own 54.89% of the company’s stock.

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.