New York Mortgage Trust, Inc. (NASDAQ: NYMT – Get a rating) was the target of a sharp increase in short-term interest during the month of July. As of July 15, there was short interest totaling 10,750,000 shares, an increase of 40.7% from the June 30 total of 7,640,000 shares. About 6.4% of the stock’s shares are sold short. Based on an average daily volume of 4,030,000 shares, the day-to-cover ratio is currently 2.7 days.
Hedge funds weigh on New York Mortgage Trust
Several hedge funds and other institutional investors have recently increased or reduced their stakes in NYMT. CWM LLC increased its position in New York Mortgage Trust shares by 92.9% in the 1st quarter. CWM LLC now owns 7,386 shares of the real estate investment trust valued at $27,000 after acquiring an additional 3,558 shares during the period. Retirement Guys Formula LLC purchased a new stake in New York Mortgage Trust stock during Q2 for $32,000. Raymond James Financial Services Advisors Inc. purchased a new equity stake in New York Mortgage Trust during Q1 for $37,000. Sciencast Management LP purchased a new equity stake in New York Mortgage Trust during Q1 for $43,000. Finally, GPS Wealth Strategies Group LLC acquired during the 1st quarter a new shareholding in New York Mortgage Trust valued at $51,000. 54.25% of the shares are held by institutional investors and hedge funds.
New York Mortgage Trust Stock Performance
NYMT shares traded down $0.03 at midday Friday, hitting $3.14. 3,603,459 shares of the company were traded, against an average volume of 3,688,501. New York Mortgage Trust has a 52-week low of $2.24 and a 52-week high of $4.50. The company has a market capitalization of $1.20 billion, a P/E ratio of 62.80, a PEG ratio of 13.96 and a beta of 1.71. The company’s 50-day moving average price is $2.84 and its two-hundred-day moving average price is $3.26. The company has a debt ratio of 1.73, a quick ratio of 4.03 and a current ratio of 4.03.
New York Mortgage Trust (NASDAQ: NYMT – Get a rating) last released its quarterly results on Tuesday, May 3. The real estate investment trust reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.08 per ($0.30). New York Mortgage Trust had a return on equity of 7.42% and a net margin of 31.18%. During the same period last year, the company achieved EPS of $0.11. As a group, equity research analysts expect New York Mortgage Trust to post 0.06 earnings per share for the current year.
New York Mortgage Trust Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, July 25. Investors of record on Monday, June 27 received a dividend of $0.10. This represents an annualized dividend of $0.40 and a dividend yield of 12.74%. The ex-dividend date was Friday, June 24. New York Mortgage Trust’s dividend payout ratio (DPR) is currently 800.00%.
A Wall Street analyst gives his opinion
NYMT has been the subject of several analyst reports. Credit Suisse Group lowered its target price on shares of New York Mortgage Trust to $3.50 in a Friday, July 22 report. Keefe, Bruyette & Woods downgraded New York Mortgage Trust shares from an “outperform” rating to a “market performer” rating and set a price target of $3.00 for the stock. in a research report on Monday, July 18. Barclays cut its price target on New York Mortgage Trust shares from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research report Monday, July 18. To finish, StockNews.com downgraded shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a Tuesday, May 10 research report. Two research analysts rated the stock with a sell rating, two gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat, New York Mortgage Trust currently has an average rating of “Hold” and a consensus target price of $3.79.
New York Mortgage Trust Company Profile
New York Mortgage Trust, Inc. acquires, invests, finances and manages single-family and multi-family residential mortgage-related assets in the United States. Its focused investments include residential loans, second mortgages and business loans; structured multifamily real estate investments, such as preferred stock and mezzanine loans to owners of multifamily properties, as well as joint venture equity investments in multifamily properties; residential non-agency mortgage-backed securities (RMBS); Agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgages, residential housing and credit-related assets.
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