New York Mortgage Trust (NASDAQ:NYMT) Shares Up 4.9% – Still a Buy?

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

Analyst Ratings Changes

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

New York Mortgage Trust Stock Up 1.2 %

The company has a market cap of $555.25 million, a P/E ratio of -18.58 and a beta of 1.94. The business’s 50 day moving average price is $5.97 and its 200-day moving average price is $6.15. The company has a debt-to-equity ratio of 7.24, a current ratio of 8.25 and a quick ratio of 8.25.

New York Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Friday, December 20th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.05%. The ex-dividend date of this dividend is Friday, December 20th. New York Mortgage Trust’s dividend payout ratio is presently -242.42%.

Institutional Trading of New York Mortgage Trust

Hedge funds have recently modified their holdings of the stock. McIlrath & Eck LLC acquired a new position in New York Mortgage Trust during the 3rd quarter worth $62,000. Sequoia Financial Advisors LLC bought a new position in New York Mortgage Trust in the third quarter valued at about $76,000. Calton & Associates Inc. acquired a new stake in New York Mortgage Trust in the third quarter worth about $82,000. Evergreen Capital Management LLC bought a new stake in New York Mortgage Trust during the 2nd quarter worth about $83,000. Finally, AQR Capital Management LLC acquired a new position in New York Mortgage Trust during the 2nd quarter valued at about $83,000. 54.89% of the stock is owned by institutional investors.

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.