New York Mortgage Trust (NASDAQ:NYMT) rating upgraded to sell on StockNews.com


New York Mortgage Trust (NASDAQ:NYMT – Get Note) was upgraded by stock analysts StockNews.com to a “sell” rating in a report on Friday.

Several other research companies have also recently weighed in on NYMT. Barclays cut its price target on New York Mortgage Trust shares from $3.50 to $3.00 and set an “equal weight” rating on the stock in a Monday, July 18 report. Keefe, Bruyette & Woods downgraded New York Mortgage Trust shares from an “outperform” rating to a “market performer” rating and set a price target of $3.00 for the stock. in a research report on Monday, July 18. B. Riley lowered his price target on New York Mortgage Trust shares from $5.50 to $5.00 and set a “buy” rating for the company in a Tuesday, October 25 report. Credit Suisse Group lowered its price target on New York Mortgage Trust to $3.00 in a research report Thursday, October 13. Finally, TheStreet downgraded New York Mortgage Trust from a “c-” rating to a “d+” rating in a Wednesday, August 3 research report. Two investment analysts gave the stock a sell rating, two gave the company a hold rating and three gave the company a buy rating. According to MarketBeat.com, New York Mortgage Trust currently has an average rating of “Hold” and an average target price of $3.82.

New York Mortgage Trust trades up 0.4%

NYMT shares were up $0.01 during Friday trading hours, hitting $2.78. The company’s shares had a trading volume of 2,847,534 shares, compared to its average volume of 3,689,462. The company has a current ratio of 11.57, a quick ratio of 3.87 and a leverage of 2.35. New York Mortgage Trust has a one-year low of $2.07 and a one-year high of $4.32. The stock has a market capitalization of $1.03 billion, a P/E ratio of -3.92 and a beta of 1.70. The company’s fifty-day simple moving average is $2.56 and its 200-day simple moving average is $2.80.

New York Mortgage Trust Institutional Trading

Several hedge funds and other institutional investors have recently changed their positions in the NYMT. Vanguard Group Inc. increased its stake in New York Mortgage Trust by 2.9% during the first quarter. Vanguard Group Inc. now owns 25,413,787 shares of the real estate investment trust worth $92,760,000 after purchasing an additional 714,954 shares in the last quarter. State Street Corp raised its position in New York Mortgage Trust shares by 1.7% in the second quarter. State Street Corp now owns 14,724,631 shares of the real estate investment trust worth $42,085,000 after buying an additional 245,757 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in New York Mortgage Trust shares by 1.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 14,344,589 shares of the real estate investment trust worth $33,565,000 after purchasing an additional 230,928 shares in the last quarter. Invesco Ltd. increased its stake in New York Mortgage Trust by 26.5% in the 1st quarter. Invesco Ltd. now owns 6,009,670 shares of the real estate investment trust worth $21,935,000 after purchasing an additional 1,259,010 shares last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in New York Mortgage Trust by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,087,670 shares of the real estate investment trust worth $14,920,000 after purchasing an additional 142,372 shares in the last quarter. Hedge funds and other institutional investors hold 54.74% of the company’s shares.

New York Mortgage Trust Company Profile

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New York Mortgage Trust, Inc. acquires, invests, finances and manages single-family and multi-family residential mortgage-related assets in the United States. Its focused investments include residential loans, second mortgages and business loans; structured multifamily real estate investments, such as preferred stock and mezzanine loans to owners of multifamily properties, as well as joint venture equity investments in multifamily properties; residential non-agency mortgage-backed securities (RMBS); Agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgages, residential housing and credit-related assets.

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Analyst Recommendations for New York Mortgage Trust (NASDAQ: NYMT)

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