Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT – Free Report) by 29.1% in the 4th quarter, HoldingsChannel reports. The fund owned 17,387 shares of the real estate investment trust’s stock after selling 7,152 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in New York Mortgage Trust were worth $148,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. EMC Capital Management grew its position in shares of New York Mortgage Trust by 31.3% in the 3rd quarter. EMC Capital Management now owns 9,863 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 2,350 shares during the last quarter. HBK Sorce Advisory LLC bought a new position in shares of New York Mortgage Trust during the 3rd quarter worth about $103,000. SG Americas Securities LLC acquired a new stake in shares of New York Mortgage Trust in the 3rd quarter valued at about $185,000. Louisiana State Employees Retirement System bought a new stake in New York Mortgage Trust in the 4th quarter valued at about $387,000. Finally, Penserra Capital Management LLC raised its stake in New York Mortgage Trust by 14.4% during the 3rd quarter. Penserra Capital Management LLC now owns 48,456 shares of the real estate investment trust’s stock worth $411,000 after buying an additional 6,095 shares during the period. 54.89% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have commented on NYMT. Keefe, Bruyette & Woods reduced their price objective on New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. B. Riley restated a “buy” rating and set a $11.00 price target (down previously from $15.00) on shares of New York Mortgage Trust in a research note on Monday, March 25th. StockNews.com downgraded shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, UBS Group decreased their target price on shares of New York Mortgage Trust from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday.
Get Our Latest Stock Analysis on NYMT
New York Mortgage Trust Stock Down 2.1 %
Shares of NASDAQ:NYMT opened at $6.02 on Thursday. The stock has a market cap of $549.19 million, a price-to-earnings ratio of -3.25 and a beta of 1.91. The business’s 50 day moving average is $7.00 and its 200 day moving average is $7.78. New York Mortgage Trust, Inc. has a 12-month low of $5.78 and a 12-month high of $10.63. The company has a quick ratio of 4.29, a current ratio of 4.02 and a debt-to-equity ratio of 5.03.
New York Mortgage Trust (NASDAQ:NYMT – Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.42). The firm had revenue of $83.89 million for the quarter, compared to analysts’ expectations of $19.64 million. New York Mortgage Trust had a negative return on equity of 2.60% and a negative net margin of 44.65%. During the same period in the prior year, the firm earned $0.11 earnings per share. On average, sell-side analysts forecast that New York Mortgage Trust, Inc. will post 0.55 earnings per share for the current fiscal year.
New York Mortgage Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 25th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $0.80 annualized dividend and a yield of 13.29%. New York Mortgage Trust’s dividend payout ratio (DPR) is -43.24%.
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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