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 note issued to investors on Friday.

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

New York Mortgage Trust Trading Down 1.6 %

NASDAQ NYMT opened at $6.74 on Friday. The company has a market cap of $614.88 million, a P/E ratio of -3.64 and a beta of 1.94. New York Mortgage Trust has a 12 month low of $5.51 and a 12 month high of $9.67. The company has a debt-to-equity ratio of 6.30, a current ratio of 6.46 and a quick ratio of 6.46. The company has a 50-day moving average of $6.50 and a 200-day moving average of $6.50.

Institutional Trading of New York Mortgage Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Waterfall Asset Management LLC purchased a new stake in New York Mortgage Trust during the second quarter worth approximately $1,727,000. The Manufacturers Life Insurance Company lifted its holdings in shares of New York Mortgage Trust by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,132 shares of the real estate investment trust’s stock valued at $211,000 after acquiring an additional 1,901 shares in the last quarter. AQR Capital Management LLC purchased a new stake in New York Mortgage Trust during the 2nd quarter worth $83,000. Squarepoint Ops LLC acquired a new stake in New York Mortgage Trust in the 2nd quarter valued at $136,000. Finally, Evergreen Capital Management LLC purchased a new position in New York Mortgage Trust in the second quarter valued at about $83,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

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.