New York Mortgage Trust (NASDAQ:NYMT) Trading 4.9% Higher – Here’s What Happened

New York Mortgage Trust, Inc. (NASDAQ:NYMT)’s share price traded up 4.9% during trading on Tuesday . The stock traded as high as $6.05 and last traded at $6.05. 533,505 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 645,535 shares. The stock had previously closed at $5.77.

Wall Street Analyst Weigh In

Separately, StockNews.com cut New York Mortgage Trust from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.75.

New York Mortgage Trust Price Performance

The company has a quick ratio of 8.25, a current ratio of 8.25 and a debt-to-equity ratio of 7.24. The company has a market capitalization of $548.91 million, a P/E ratio of -18.36 and a beta of 1.94. The company’s fifty day moving average price is $5.94 and its 200 day moving average price is $6.15.

New York Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Friday, December 20th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 13.20%. New York Mortgage Trust’s dividend payout ratio is presently -242.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NYMT. Waterfall Asset Management LLC bought a new position in New York Mortgage Trust in the 2nd quarter valued at about $1,727,000. Los Angeles Capital Management LLC bought a new position in New York Mortgage Trust in the second quarter valued at approximately $630,000. Intech Investment Management LLC raised its position in New York Mortgage Trust by 91.5% during the third quarter. Intech Investment Management LLC now owns 40,113 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 19,165 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of New York Mortgage Trust in the 2nd quarter valued at $83,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of New York Mortgage Trust in the 3rd quarter valued at $76,000. Institutional investors own 54.89% of the company’s stock.

New York Mortgage Trust Company Profile

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.