Janney Montgomery Scott Upgrades New York Mortgage Trust (NASDAQ:NYMT) to “Hold”

New York Mortgage Trust (NASDAQ:NYMT) was upgraded by equities researchers at Janney Montgomery Scott to a “hold” rating in a research note issued to investors on Monday, Marketbeat reports.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group dropped their price target on shares of New York Mortgage Trust from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. StockNews.com cut shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of New York Mortgage Trust from $8.50 to $7.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, New York Mortgage Trust currently has an average rating of “Hold” and an average target price of $7.75.

New York Mortgage Trust Price Performance

NASDAQ:NYMT opened at $6.17 on Monday. The company has a debt-to-equity ratio of 6.30, a current ratio of 6.46 and a quick ratio of 4.02. The firm has a market cap of $562.88 million, a price-to-earnings ratio of -3.34 and a beta of 1.93. The company has a 50 day moving average price of $6.21 and a 200-day moving average price of $6.68. New York Mortgage Trust has a 1-year low of $5.51 and a 1-year high of $9.68.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in New York Mortgage Trust by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,527,776 shares of the real estate investment trust’s stock valued at $13,032,000 after buying an additional 132,162 shares during the period. EMG Holdings L.P. raised its holdings in New York Mortgage Trust by 103.8% in the 2nd quarter. EMG Holdings L.P. now owns 1,199,850 shares of the real estate investment trust’s stock valued at $7,007,000 after buying an additional 610,971 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in New York Mortgage Trust by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 833,702 shares of the real estate investment trust’s stock valued at $6,003,000 after buying an additional 6,148 shares during the period. Van ECK Associates Corp raised its holdings in New York Mortgage Trust by 35.8% in the 2nd quarter. Van ECK Associates Corp now owns 786,273 shares of the real estate investment trust’s stock valued at $4,592,000 after buying an additional 207,344 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in New York Mortgage Trust by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 760,054 shares of the real estate investment trust’s stock valued at $4,439,000 after buying an additional 42,007 shares during the period. 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.