New York Mortgage Trust (NASDAQ:NYMT) PT lowered to $3.00 at Credit Suisse Group
New York Mortgage Trust (NASDAQ: NYMT – Get a rating) had its target price lowered by Credit Suisse Group equity researchers to $3.00 in a research note released Thursday, Target Stock Advisor reports. Credit Suisse Group’s price target would indicate a potential upside of 21.46% from the current share price.
A number of other research companies have also published NYMT reports recently. Jonestrading cut its price target on New York Mortgage Trust from $4.25 to $4.00 and set a “buy” rating for the company in a Thursday, August 4 report. Barclays lowered its price target on New York Mortgage Trust from $3.50 to $3.00 and set an “equal weight” rating for the company in a Monday, July 18 report. StockNews.com upgraded New York Mortgage Trust to a “sell” rating in a Monday, Sept. 26, report. Keefe, Bruyette & Woods downgraded New York Mortgage Trust from an “outperform” rating to a “market performance” rating and set a target price of $3.00 for the company. in a report on Monday July 18. Finally, TheStreet upgraded the New York Mortgage Trust from a “c-” rating to a “d+” rating in a Wednesday, August 3 report. Two research analysts have assigned the stock a sell rating, two have assigned a hold rating and two have assigned the stock a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.63.
New York Mortgage Trust Price Performance
NYMT shares traded down $0.05 at midday Thursday, hitting $2.47. The stock recorded a trading volume of 223,866 shares, compared to an average volume of 5,739,853 shares. The company’s 50-day moving average is $2.72 and its 200-day moving average is $2.93. New York Mortgage Trust has a 12-month low of $2.07 and a 12-month high of $4.50. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt ratio of 2.30. The company has a market capitalization of $941.69 million, a price-earnings ratio of -8.79 and a beta of 1.69.
Institutional entries and exits
A number of hedge funds and other institutional investors have been buying and selling NYMT shares recently. Maryland State Retirement & Pension System raised its position in New York Mortgage Trust by 2.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 153,417 shares of the real estate investment trust worth $560,000 after purchasing 2,968 additional shares in the last quarter. Veriti Management LLC raised its position in New York Mortgage Trust shares by 79.6% in the first quarter. Veriti Management LLC now owns 20,393 shares of the real estate investment trust worth $74,000 after acquiring 9,037 additional shares in the last quarter. Selective Wealth Management Inc. bought a new stock position in New York Mortgage Trust in Q1 for a value of approximately $107,000. GPS Wealth Strategies Group LLC bought a new stock position in New York Mortgage Trust in Q1 for about $51,000. Finally, CWM LLC increased its position in New York Mortgage Trust shares by 92.9% in the 1st quarter. CWM LLC now owns 7,386 shares of the real estate investment trust worth $27,000 after acquiring 3,558 additional shares in the last quarter. Institutional investors hold 54.74% of the company’s shares.
About New York Mortgage Trust
New York Mortgage Trust, Inc. acquires, invests, finances and manages single-family and multi-family residential mortgage-related assets in the United States. Its focused investments include residential loans, second mortgages and business loans; structured multifamily real estate investments, such as preferred stock and mezzanine loans to owners of multifamily properties, as well as joint venture equity investments in multifamily properties; residential non-agency mortgage-backed securities (RMBS); Agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgages, residential housing and credit-related assets.
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider New York Mortgage Trust, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and New York Mortgage Trust didn’t make the list.
While New York Mortgage Trust currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here