New York Mortgage Trust (NASDAQ:NYMT) Shares Gap Down to $10.21

Posted by Defense World Staff on Jun 9th, 2023

New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $10.21, but opened at $9.98. New York Mortgage Trust shares last traded at $10.12, with a volume of 114,334 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NYMT. LADENBURG THALM/SH SH cut New York Mortgage Trust from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a research report on Friday, February 24th. StockNews.com began coverage on New York Mortgage Trust in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods upped their price target on New York Mortgage Trust from $2.50 to $10.00 and gave the company a “market perform” rating in a research report on Friday, March 17th. Jonestrading reiterated a “hold” rating on shares of New York Mortgage Trust in a research report on Wednesday, March 1st. Finally, Maxim Group lowered their price target on New York Mortgage Trust from $14.00 to $13.00 in a research report on Tuesday, May 9th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.29.

New York Mortgage Trust Trading Up 1.1 %

The firm has a 50 day moving average price of $9.93 and a 200-day moving average price of $10.61. The company has a debt-to-equity ratio of 2.40, a quick ratio of 9.31 and a current ratio of 9.31.

New York Mortgage Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, June 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $1.20 dividend on an annualized basis and a yield of 11.94%. New York Mortgage Trust’s dividend payout ratio is presently -61.30%.

Institutional Investors Weigh In On New York Mortgage Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC bought a new stake in shares of New York Mortgage Trust in the third quarter worth about $26,000. Bleakley Financial Group LLC bought a new stake in shares of New York Mortgage Trust in the fourth quarter worth about $28,000. Clarius Group LLC bought a new stake in shares of New York Mortgage Trust in the fourth quarter worth about $29,000. Centiva Capital LP bought a new stake in shares of New York Mortgage Trust in the fourth quarter worth about $35,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of New York Mortgage Trust in the third quarter worth about $36,000. Institutional investors own 53.62% of the company’s stock.

About New York Mortgage Trust

(Get Rating)

New York Mortgage Trust, Inc is a real estate investment trust, which engages in the acquisition, investment, finance, and management of mortgage-related single-family and multi-family residential assets. Its investment portfolio includes credit sensitive single-family and multi-family assets. The company was founded on September 26, 2003 and is headquartered in New York, NY.