New York Mortgage Trust (NASDAQ:NYMT) Trading Up 4.9% – Time to Buy?

New York Mortgage Trust, Inc. (NASDAQ:NYMT) shares were up 4.9% during trading on Tuesday . The company traded as high as $6.05 and last traded at $6.05. Approximately 533,505 shares traded hands during trading, a decline of 17% from the average daily volume of 645,535 shares. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, New York Mortgage Trust currently has a consensus rating of “Hold” and an average price target of $7.75.

New York Mortgage Trust Trading Up 1.2 %

The company’s fifty day simple moving average is $5.97 and its two-hundred day simple moving average is $6.15. The company has a market capitalization of $555.25 million, a price-to-earnings ratio of -18.58 and a beta of 1.94. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Friday, December 20th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 13.05%. New York Mortgage Trust’s dividend payout ratio is presently -242.42%.

Institutional Investors Weigh In On New York Mortgage Trust

A number of hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of New York Mortgage Trust by 1.6% in the third quarter. State Street Corp now owns 3,495,306 shares of the real estate investment trust’s stock valued at $22,820,000 after purchasing an additional 54,597 shares in the last quarter. Geode Capital Management LLC boosted its position in New York Mortgage Trust by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,261,614 shares of the real estate investment trust’s stock worth $14,320,000 after acquiring an additional 10,017 shares during the last quarter. EMG Holdings L.P. grew its stake in shares of New York Mortgage Trust by 103.8% during the 2nd quarter. EMG Holdings L.P. now owns 1,199,850 shares of the real estate investment trust’s stock worth $7,007,000 after acquiring an additional 610,971 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of New York Mortgage Trust by 35.8% in the second quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust’s stock valued at $4,592,000 after purchasing an additional 207,344 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of New York Mortgage Trust by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 760,054 shares of the real estate investment trust’s stock worth $4,439,000 after purchasing an additional 42,007 shares in the last quarter. 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.