New York Mortgage Trust, Inc. (NASDAQ:NYMT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $7.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.64% from the company’s current price.

According to Zacks, “New York Mortgage Trust is a real estate investment trust focused on owning and managing a leveraged portfolio of residential mortgage securities and a mortgage origination business. The mortgage portfolio is comprised largely of prime adjustable-rate and hybrid mortgage loans and securities, much of which, over time will be originated by NYMT’s wholly owned mortgage origination business, The New York Mortgage Company, a taxable real estate investment trust subsidiary. “

A number of other brokerages have also recently commented on NYMT. BidaskClub cut New York Mortgage Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Maxim Group reiterated a “buy” rating and issued a $6.50 target price on shares of New York Mortgage Trust in a research report on Monday. TheStreet raised New York Mortgage Trust from a “d+” rating to a “c” rating in a research note on Thursday, November 2nd. B. Riley reissued a “hold” rating and set a $6.25 price target on shares of New York Mortgage Trust in a research note on Tuesday. Finally, Barclays PLC lifted their price target on New York Mortgage Trust from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. New York Mortgage Trust has an average rating of “Hold” and a consensus price target of $6.35.

New York Mortgage Trust (NASDAQ:NYMT) opened at $6.27 on Wednesday. The company has a debt-to-equity ratio of 13.54, a current ratio of 74.43 and a quick ratio of 74.43. New York Mortgage Trust has a 12-month low of $5.90 and a 12-month high of $7.04. The company has a market capitalization of $701.56, a price-to-earnings ratio of 11.63 and a beta of 1.36.

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A number of institutional investors and hedge funds have recently modified their holdings of NYMT. Global X Management Co. LLC increased its holdings in shares of New York Mortgage Trust by 7.1% during the second quarter. Global X Management Co. LLC now owns 2,674,312 shares of the real estate investment trust’s stock valued at $16,634,000 after acquiring an additional 176,188 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of New York Mortgage Trust by 3.7% during the second quarter. Vanguard Group Inc. now owns 4,684,792 shares of the real estate investment trust’s stock valued at $29,139,000 after acquiring an additional 169,079 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of New York Mortgage Trust by 38.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 584,089 shares of the real estate investment trust’s stock valued at $3,634,000 after acquiring an additional 163,438 shares in the last quarter. Citadel Advisors LLC increased its holdings in shares of New York Mortgage Trust by 29.5% during the second quarter. Citadel Advisors LLC now owns 561,186 shares of the real estate investment trust’s stock valued at $3,491,000 after acquiring an additional 127,793 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of New York Mortgage Trust by 5.8% during the second quarter. State Street Corp now owns 2,325,571 shares of the real estate investment trust’s stock valued at $14,468,000 after acquiring an additional 126,981 shares in the last quarter. 36.19% of the stock is currently owned by hedge funds and other institutional investors.

About New York Mortgage Trust

New York Mortgage Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS.

Analyst Recommendations for New York Mortgage Trust (NASDAQ:NYMT)

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