Principal Financial Group Inc. Reduces Stock Position in New York Mortgage Trust, Inc. (NASDAQ:NYMT)

Principal Financial Group Inc. decreased its position in New York Mortgage Trust, Inc. (NASDAQ:NYMT) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 426,988 shares of the real estate investment trust’s stock after selling 22,972 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of New York Mortgage Trust worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. grew its holdings in shares of New York Mortgage Trust by 22.7% during the third quarter. First Trust Direct Indexing L.P. now owns 23,631 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 4,376 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in New York Mortgage Trust in the 3rd quarter worth approximately $76,000. Calton & Associates Inc. purchased a new stake in New York Mortgage Trust in the 3rd quarter worth approximately $82,000. SG Americas Securities LLC raised its holdings in New York Mortgage Trust by 90.1% in the 3rd quarter. SG Americas Securities LLC now owns 50,106 shares of the real estate investment trust’s stock valued at $317,000 after acquiring an additional 23,750 shares during the last quarter. Finally, Waterfall Asset Management LLC purchased a new position in shares of New York Mortgage Trust during the 2nd quarter worth $1,727,000. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NYMT shares. Janney Montgomery Scott initiated coverage on New York Mortgage Trust in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $7.00 price objective for the company. StockNews.com cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Tuesday. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.75.

New York Mortgage Trust Stock Up 1.5 %

Shares of NYMT opened at $5.98 on Friday. New York Mortgage Trust, Inc. has a fifty-two week low of $5.14 and a fifty-two week high of $9.67. The company’s fifty day moving average is $5.91 and its two-hundred day moving average is $6.13. The firm has a market cap of $541.66 million, a PE ratio of -18.12 and a beta of 1.94. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 7.24.

New York Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Monday, September 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 13.38%. The ex-dividend date of this dividend was Monday, September 30th. New York Mortgage Trust’s payout ratio is currently -242.42%.

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.