New York Mortgage Trust (NASDAQ:NYMT) Rating Lowered to Sell at StockNews.com

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

Separately, Janney Montgomery Scott initiated coverage on shares of New York Mortgage Trust in a research report on Tuesday, August 13th. They set a “neutral” rating and a $7.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.75.

New York Mortgage Trust Price Performance

Shares of NASDAQ NYMT opened at $6.74 on Friday. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 6.30. New York Mortgage Trust has a fifty-two week low of $5.51 and a fifty-two week high of $9.67. The business has a 50 day moving average price of $6.50 and a two-hundred day moving average price of $6.50. The firm has a market cap of $614.88 million, a PE ratio of -3.64 and a beta of 1.94.

Institutional Investors Weigh In On New York Mortgage Trust

A number of institutional investors have recently made changes to their positions in NYMT. Waterfall Asset Management LLC bought a new position in New York Mortgage Trust during the second quarter worth $1,727,000. The Manufacturers Life Insurance Company lifted its position in shares of New York Mortgage Trust by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,132 shares of the real estate investment trust’s stock worth $211,000 after buying an additional 1,901 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of New York Mortgage Trust in the 2nd quarter valued at about $83,000. Squarepoint Ops LLC bought a new stake in shares of New York Mortgage Trust during the 2nd quarter valued at about $136,000. Finally, Evergreen Capital Management LLC acquired a new stake in New York Mortgage Trust during the second quarter worth about $83,000. 54.89% of the stock is currently owned by institutional investors.

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.