New York Mortgage Trust, Inc. (NASDAQ:NYMT) sees sharp drop in short-term interest

New York Mortgage Trust, Inc. (NASDAQ: NYMT – Get an assessment) was the target of a significant decline in short interest in June. As of June 15, there was short interest totaling 7,840,000 shares, down 20.2% from the May 31 total of 9,820,000 shares. Based on an average daily trading volume of 4,340,000 shares, the short interest ratio is currently 1.8 days. Currently, 4.6% of the company’s shares are sold short.

New York Mortgage Trust shares opened at $2.84 on Monday. The company has a fifty-day moving average of $2.93 and a two-hundred-day moving average of $3.39. The company has a debt ratio of 1.73, a quick ratio of 4.03 and a current ratio of 4.03. The company has a market capitalization of $1.08 billion, a P/E ratio of 56.80, a PEG ratio of 11.56 and a beta of 1.71. New York Mortgage Trust has a one-year minimum of $2.24 and a one-year maximum of $4.56.

New York Mortgage Trust (NASDAQ: NYMT – Get an assessment) last announced its quarterly results on Tuesday, May 3. The real estate investment trust reported ($0.22) earnings per share for the quarter, missing analyst consensus estimates of $0.08 per ($0.30). New York Mortgage Trust had a net margin of 31.18% and a return on equity of 7.42%. In the same quarter last year, the company achieved EPS of $0.11. As a group, stock analysts predict New York Mortgage Trust will post 0.07 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, July 25. Investors of record on Monday, June 27 will receive a dividend of $0.10. This represents an annualized dividend of $0.40 and a yield of 14.08%. The ex-dividend date is Friday, June 24. New York Mortgage Trust’s payout ratio is currently 800.00%.

Several large investors have recently bought and sold shares of NYMT. Maryland State Retirement & Pension System increased its holdings in New York Mortgage Trust by 2.0% in the first quarter. Maryland State Retirement & Pension System now owns 153,417 shares of the real estate investment trust worth $560,000 after buying 2,968 additional shares in the last quarter. Eaton Vance Management increased its holdings of New York Mortgage Trust shares by 18.9% in the first quarter. Eaton Vance Management now owns 21,272 shares of the real estate investment trust valued at $77,000 after acquiring 3,388 additional shares during the period. Triton Wealth Management PLLC increased its holdings of New York Mortgage Trust shares by 5.0% in the fourth quarter. Triton Wealth Management PLLC now owns 72,536 shares of the real estate investment trust worth $267,000 after buying an additional 3,435 shares in the last quarter. CWM LLC increased its holdings of New York Mortgage Trust shares by 92.9% in the first quarter. CWM LLC now owns 7,386 shares of the real estate investment trust worth $27,000 after purchasing an additional 3,558 shares in the last quarter. Finally, Rhumbline Advisers increased its position in New York Mortgage Trust by 0.3% in the first quarter. Rhumbline Advisers now owns 1,101,292 shares of the real estate investment trust worth $4,020,000 after purchasing 3,657 additional shares during the period. Institutional investors hold 54.25% of the company’s shares.

Several research analysts have recently released reports on NYMT stocks. Bank of America cut its price target on New York Mortgage Trust shares from $4.50 to $3.75 and set an “underperform” rating for the company in a Wednesday, March 9 report. StockNews.com downgraded shares of New York Mortgage Trust from a “hold” rating to a “sell” rating in a Tuesday, May 10 research report. Finally, Barclays lowered its price target on New York Mortgage Trust shares from $4.00 to $3.50 in a research report on Wednesday, April 27. Two research analysts have rated the stock with a sell rating and three have assigned the stock a buy rating. Based on MarketBeat data, New York Mortgage Trust has a consensus rating of “Hold” and a consensus price target of $4.25.

About New York Mortgage Trust (Get an assessment)

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.

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