New York Mortgage Trust (NASDAQ:NYMT) Price Target Lowered to $8.00 at B. Riley

New York Mortgage Trust (NASDAQ:NYMT) had its target price trimmed by B. Riley from $11.00 to $8.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Separately, StockNews.com cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. One 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 has an average rating of “Hold” and a consensus price target of $7.00.

New York Mortgage Trust Trading Down 2.9 %

Shares of NYMT stock opened at $6.08 on Tuesday. The company has a market capitalization of $550.72 million, a P/E ratio of -18.42 and a beta of 1.92. The firm has a 50-day moving average price of $6.04 and a 200 day moving average price of $6.15. The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 7.24. New York Mortgage Trust has a 12-month low of $5.14 and a 12-month high of $8.61.

New York Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Friday, December 20th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.16%. The ex-dividend date is Friday, December 20th. New York Mortgage Trust’s dividend payout ratio (DPR) is currently -242.42%.

Institutional Investors Weigh In On New York Mortgage Trust

A number of institutional investors have recently made changes to their positions in the stock. McIlrath & Eck LLC acquired a new position in New York Mortgage Trust in the third quarter valued at about $62,000. Sequoia Financial Advisors LLC acquired a new stake in shares of New York Mortgage Trust in the 3rd quarter valued at approximately $76,000. Calton & Associates Inc. acquired a new stake in shares of New York Mortgage Trust in the 3rd quarter valued at approximately $82,000. Evergreen Capital Management LLC bought a new position in New York Mortgage Trust during the 2nd quarter worth approximately $83,000. Finally, AQR Capital Management LLC acquired a new position in New York Mortgage Trust during the second quarter valued at approximately $83,000. 54.89% of the stock is owned by institutional investors and hedge funds.

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.