New York State Teachers Retirement System cut its holdings in shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT – Free Report) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,512 shares of the real estate investment trust’s stock after selling 1,600 shares during the period. New York State Teachers Retirement System owned about 0.14% of New York Mortgage Trust worth $1,305,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its stake in shares of New York Mortgage Trust by 0.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,710,326 shares of the real estate investment trust’s stock valued at $36,806,000 after acquiring an additional 30,379 shares in the last quarter. Creative Planning acquired a new position in New York Mortgage Trust in the second quarter worth about $166,000. Louisiana State Employees Retirement System increased its holdings in New York Mortgage Trust by 10.6% in the second quarter. Louisiana State Employees Retirement System now owns 47,900 shares of the real estate investment trust’s stock valued at $475,000 after buying an additional 4,601 shares during the last quarter. HBK Sorce Advisory LLC acquired a new stake in New York Mortgage Trust during the first quarter valued at approximately $191,000. Finally, Belpointe Asset Management LLC lifted its holdings in New York Mortgage Trust by 71.9% during the 1st quarter. Belpointe Asset Management LLC now owns 4,095 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,713 shares during the last quarter. 52.98% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. B. Riley dropped their price target on New York Mortgage Trust from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 14th. StockNews.com started coverage on shares of New York Mortgage Trust in a report on Thursday, October 5th. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.80.
New York Mortgage Trust Price Performance
NYMT opened at $7.70 on Wednesday. The firm has a market cap of $702.63 million, a price-to-earnings ratio of -3.60 and a beta of 1.78. New York Mortgage Trust, Inc. has a fifty-two week low of $7.57 and a fifty-two week high of $12.96. The company’s 50-day moving average price is $8.83 and its 200 day moving average price is $9.51. The company has a quick ratio of 8.73, a current ratio of 8.73 and a debt-to-equity ratio of 2.77.
New York Mortgage Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Thursday, September 21st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $1.20 annualized dividend and a yield of 15.58%. New York Mortgage Trust’s dividend payout ratio (DPR) is -56.07%.
About New York Mortgage Trust
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.
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