NY MTG TR INC/SH (NASDAQ:NYMT) was upgraded by stock analysts at LADENBURG THALM/SH SH from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, The Fly reports.
A number of other brokerages have also issued reports on NYMT. BidaskClub upgraded shares of NY MTG TR INC/SH from a “sell” rating to a “hold” rating in a research note on Thursday, June 20th. Maxim Group set a $7.00 price objective on NY MTG TR INC/SH and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Zacks Investment Research raised NY MTG TR INC/SH from a “hold” rating to a “strong-buy” rating and set a $7.00 price objective for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. NY MTG TR INC/SH currently has a consensus rating of “Buy” and a consensus target price of $6.38.
NASDAQ:NYMT traded up $0.11 on Tuesday, reaching $6.06. 1,303,682 shares of the company’s stock were exchanged, compared to its average volume of 3,877,473. The company has a quick ratio of 120.54, a current ratio of 120.54 and a debt-to-equity ratio of 14.72. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 7.04 and a beta of 0.80. The business has a fifty day simple moving average of $6.16. NY MTG TR INC/SH has a 52-week low of $5.58 and a 52-week high of $6.51.
In related news, Director Alan L. Hainey sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $6.27, for a total value of $62,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of NYMT. Quadrant Capital Group LLC acquired a new stake in shares of NY MTG TR INC/SH in the first quarter valued at approximately $31,000. Parallel Advisors LLC raised its stake in shares of NY MTG TR INC/SH by 1,123.2% during the first quarter. Parallel Advisors LLC now owns 9,419 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 8,649 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of NY MTG TR INC/SH during the second quarter worth approximately $68,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of NY MTG TR INC/SH during the first quarter worth approximately $111,000. Finally, Amalgamated Bank raised its stake in shares of NY MTG TR INC/SH by 10.4% during the fourth quarter. Amalgamated Bank now owns 21,957 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 2,065 shares during the last quarter. 43.05% of the stock is owned by institutional investors and hedge funds.
NY MTG TR INC/SH Company Profile
New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related and residential housing-related assets in the United States. Its investment portfolio includes structured multi-family property investments, such as multi-family commercial mortgage-backed securities and preferred equity in, and mezzanine loans to owners of multi-family properties; residential mortgage loans, including distressed residential mortgage loans, non- qualified mortgage loans, second mortgages, and other residential mortgage loans; non-agency residential mortgage-backed securities (RMBS); agency RMBS; and other mortgage-related and residential housing-related assets.
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