New York Mortgage Trust (NASDAQ:NYMT) Hits New 12-Month Low at $6.70

Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) reached a new 52-week low during trading on Tuesday . The stock traded as low as $6.70 and last traded at $6.74, with a volume of 91875 shares changing hands. The stock had previously closed at $6.87.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $11.00 price target (down from $15.00) on shares of New York Mortgage Trust in a research report on Monday, March 25th. StockNews.com upgraded shares of New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd.

New York Mortgage Trust Stock Up 1.3 %

The firm’s 50-day moving average price is $7.19 and its 200 day moving average price is $7.95. The firm has a market capitalization of $622.26 million, a price-to-earnings ratio of -6.89 and a beta of 1.92. The company has a debt-to-equity ratio of 4.21, a current ratio of 4.29 and a quick ratio of 4.29.

New York Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 25th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 11.73%. The ex-dividend date is Friday, March 22nd. New York Mortgage Trust’s payout ratio is -80.81%.

Hedge Funds Weigh In On New York Mortgage Trust

Several institutional investors and hedge funds have recently modified their holdings of NYMT. Centiva Capital LP purchased a new position in shares of New York Mortgage Trust during the fourth quarter valued at approximately $35,000. Envestnet Asset Management Inc. purchased a new position in shares of New York Mortgage Trust during the third quarter valued at approximately $36,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of New York Mortgage Trust during the first quarter valued at approximately $37,000. Belpointe Asset Management LLC lifted its stake in shares of New York Mortgage Trust by 71.9% during the first quarter. Belpointe Asset Management LLC now owns 4,095 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,713 shares during the period. Finally, CI Private Wealth LLC purchased a new position in shares of New York Mortgage Trust during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors 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.