Barclays PLC Boosts New York Mortgage Trust, Inc. (NYMT) Price Target to $6.00

New York Mortgage Trust, Inc. (NASDAQ:NYMT) had its target price raised by Barclays PLC from $5.00 to $6.00 in a research report report published on Tuesday morning. Barclays PLC currently has an equal weight rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on NYMT. Zacks Investment Research raised New York Mortgage Trust from a sell rating to a hold rating in a research report on Wednesday, July 5th. BidaskClub raised New York Mortgage Trust from a hold rating to a buy rating in a research report on Tuesday, July 25th. TheStreet lowered New York Mortgage Trust from a c rating to a d+ rating in a research report on Friday, August 4th. Finally, Keefe, Bruyette & Woods set a $6.00 target price on New York Mortgage Trust and gave the stock a hold rating in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. New York Mortgage Trust has an average rating of Hold and an average target price of $6.33.

Shares of New York Mortgage Trust (NASDAQ NYMT) traded up 0.48% during mid-day trading on Tuesday, reaching $6.28. 172,351 shares of the company’s stock traded hands. The company has a market cap of $702.68 million, a price-to-earnings ratio of 12.31 and a beta of 1.37. New York Mortgage Trust has a 12 month low of $5.72 and a 12 month high of $7.04. The company has a 50 day moving average of $6.25 and a 200 day moving average of $6.27.

New York Mortgage Trust (NASDAQ:NYMT) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $15.71 million for the quarter, compared to the consensus estimate of $17.42 million. New York Mortgage Trust had a return on equity of 10.05% and a net margin of 19.62%. New York Mortgage Trust’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. Analysts expect that New York Mortgage Trust will post $0.53 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.80%. The ex-dividend date of this dividend is Friday, September 22nd. New York Mortgage Trust’s payout ratio is 156.87%.

Several large investors have recently modified their holdings of NYMT. Wells Fargo & Company MN raised its position in shares of New York Mortgage Trust by 8.4% during the first quarter. Wells Fargo & Company MN now owns 102,423 shares of the real estate investment trust’s stock worth $632,000 after purchasing an additional 7,947 shares during the period. Bank of New York Mellon Corp raised its position in shares of New York Mortgage Trust by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 535,398 shares of the real estate investment trust’s stock worth $3,303,000 after purchasing an additional 30,882 shares during the period. Swiss National Bank raised its position in shares of New York Mortgage Trust by 4.3% during the first quarter. Swiss National Bank now owns 180,320 shares of the real estate investment trust’s stock worth $1,113,000 after purchasing an additional 7,400 shares during the period. Karp Capital Management Corp acquired a new position in shares of New York Mortgage Trust during the first quarter worth approximately $467,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of New York Mortgage Trust by 53.5% during the first quarter. Parametric Portfolio Associates LLC now owns 345,102 shares of the real estate investment trust’s stock worth $2,129,000 after purchasing an additional 120,342 shares during the period. 36.11% of the stock is currently owned by institutional investors.

New York Mortgage Trust Company Profile

New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.

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

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