NY MTG TR INC/SH (NASDAQ:NYMT) Given New $7.00 Price Target at Nomura
NY MTG TR INC/SH (NASDAQ:NYMT) had its price target upped by Nomura from $6.50 to $7.00 in a research report released on Tuesday, BenzingaRatingsTable reports. Nomura currently has a buy rating on the real estate investment trust’s stock.
A number of other equities research analysts also recently weighed in on NYMT. Maxim Group set a $7.00 price target on NY MTG TR INC/SH and gave the company a buy rating in a research report on Friday, July 19th. LADENBURG THALM/SH SH upgraded NY MTG TR INC/SH from a neutral rating to a buy rating in a research report on Tuesday, August 6th. Zacks Investment Research upgraded NY MTG TR INC/SH from a hold rating to a strong-buy rating and set a $7.00 price target on the stock in a research report on Wednesday, July 31st. Finally, BidaskClub upgraded NY MTG TR INC/SH from a hold rating to a buy rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $6.50.
NASDAQ NYMT opened at $6.25 on Tuesday. The company’s 50-day moving average price is $6.15. NY MTG TR INC/SH has a twelve month low of $5.58 and a twelve month high of $6.51. The company has a quick ratio of 116.34, a current ratio of 116.34 and a debt-to-equity ratio of 13.59. The stock has a market capitalization of $1.45 billion, a P/E ratio of 7.27 and a beta of 0.80.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, June 24th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 21st. This represents a $0.80 dividend on an annualized basis and a yield of 12.80%. NY MTG TR INC/SH’s payout ratio is 93.02%.
In other NY MTG TR INC/SH news, Director Alan L. Hainey sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $6.27, for a total transaction of $62,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in shares of NY MTG TR INC/SH by 10.4% in the fourth quarter. Amalgamated Bank now owns 21,957 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 2,065 shares during the period. Strs Ohio increased its holdings in shares of NY MTG TR INC/SH by 7.9% in the first quarter. Strs Ohio now owns 45,300 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 3,300 shares during the period. Quadrant Capital Group LLC purchased a new position in shares of NY MTG TR INC/SH in the first quarter worth about $31,000. Oregon Public Employees Retirement Fund increased its holdings in shares of NY MTG TR INC/SH by 9.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 64,948 shares of the real estate investment trust’s stock worth $396,000 after buying an additional 5,777 shares during the period. Finally, Prime Capital Investment Advisors LLC increased its holdings in shares of NY MTG TR INC/SH by 85.7% in the second quarter. Prime Capital Investment Advisors LLC now owns 13,000 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 6,000 shares during the period. Hedge funds and other institutional investors own 43.79% of the company’s stock.
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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