New York Mortgage Trust (NASDAQ:NYMT) Upgraded to Hold at Zacks Investment Research

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New York Mortgage Fund (NASDAQ: NYMT) Zacks Investment Research upgraded from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, reports.

According to Zacks, “The New York Mortgage Fund is a real estate investment trust focused on owning and managing a portfolio backed by residential mortgage securities and the mortgage creation business. The mortgage portfolio is comprised largely of adjustable-rate hybrid loans and mortgages., will be Much of it has been created over time by the wholly owned NYMT mortgage builder, New York Mortgage Company, an affiliate of the taxable real estate investment trust.”

The NASDAQ NYMT opened at $3.78 on Tuesday. The company’s 50-day moving average is $3.88 and the 200-day moving average is $4.19. The New York Mortgage Fund recorded a 52-week low of $3.51 and a 52-week high of $4.93. The company has a debt-to-equity ratio of 1.22, a quick ratio of 18.94 and a trading ratio of 18.94. The company has a market capitalization of $1.43 billion, a PE ratio of 7.56 and a beta of 1.85.

New York Mortgage Fund (NASDAQ: NYMT) released its latest quarterly earnings data on Tuesday, November 2nd. The REIT reported earnings of $0.09 per share for the quarter, topping Zacks’ corresponding estimate of $0.11 ($0.02). New York Mortgage Trust posted a net profit margin of 118.27% and a return on equity of 10.80%. During the same period in the previous year, the company earned $0.07 EPS. On average, sell-side analysts expect the New York Mortgage Fund to post 0.43 earnings per share for the current year.


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Several institutional investors and hedge funds have recently added to or reduced their stakes in NYMT. Mackenzie Financial Corp bought a new stake in New York Mortgage Trust during the second quarter for approximately $62,000. Thrivent Financial for Lutherans boosted its stake in New York Mortgage Trust by 9.7% in the second quarter. Thrivent Financial for Lutherans now owns 514,543 shares of REIT stock valued at $2,300,000 after purchasing an additional 45,640 shares during the period. Clear Street Markets LLC grew its holdings in New York Mortgage Trust by 7.0% during the third quarter. Clear Street Markets LLC now owns 61,200 shares of REIT stock valued at $261,000 after purchasing an additional 4,000 shares in the last quarter. The New Jersey State Pensions Combined Fund purchased a new stake in New York Mortgage Trust shares during the third quarter valued at approximately $2,670,000. Finally, State Street Corp. raised its ownership in New York Mortgage Trust shares by 4.0% in the second quarter. State Street Corp. now owns 12,971,736 shares of REIT stock valued at $59,281,000 after purchasing an additional 499,517 shares in the last quarter. Institutional investors own 54.25% of the company’s stock.

About the New York Mortgage Fund

New York Mortgage Trust, Inc. is a real estate investment trust engaged in the acquisition, investment, financing and management of mortgage and residential assets. Its objective is to provide long-term stable dividends to its shareholders over changing economic conditions through a combination of net interest margin and capital gains from a diversified investment portfolio.

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