StockNews.com Upgrades New York Mortgage Trust (NASDAQ:NYMT) to Hold

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

Separately, B. Riley decreased their target price on New York Mortgage Trust from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, New York Mortgage Trust presently has an average rating of “Hold” and a consensus price target of $7.00.

New York Mortgage Trust Stock Performance

NASDAQ NYMT opened at $6.15 on Friday. The company has a market cap of $557.07 million, a P/E ratio of -18.64 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 stock has a 50-day moving average of $6.06 and a two-hundred day moving average of $6.09. New York Mortgage Trust has a 1-year low of $5.14 and a 1-year high of $7.64.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NYMT. Invesco Ltd. increased its holdings in shares of New York Mortgage Trust by 20.3% in the fourth quarter. Invesco Ltd. now owns 3,207,439 shares of the real estate investment trust’s stock valued at $19,437,000 after purchasing an additional 542,002 shares during the period. Jane Street Group LLC increased its holdings in shares of New York Mortgage Trust by 191.6% in the fourth quarter. Jane Street Group LLC now owns 479,428 shares of the real estate investment trust’s stock valued at $2,905,000 after purchasing an additional 315,040 shares during the period. Vanguard Group Inc. increased its holdings in shares of New York Mortgage Trust by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 6,422,036 shares of the real estate investment trust’s stock valued at $38,918,000 after purchasing an additional 264,334 shares during the period. Northern Trust Corp increased its holdings in shares of New York Mortgage Trust by 15.5% in the fourth quarter. Northern Trust Corp now owns 1,148,179 shares of the real estate investment trust’s stock valued at $6,958,000 after purchasing an additional 154,181 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of New York Mortgage Trust by 19.5% in the fourth quarter. Bank of New York Mellon Corp now owns 792,444 shares of the real estate investment trust’s stock valued at $4,802,000 after purchasing an additional 129,079 shares during the period. Institutional investors and hedge funds own 54.89% of the company’s stock.

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.