Mortgage

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

New York Mortgage Trust logo
Written by Publishing Team

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, Zacks.com 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.

(ad)

There are currently 5.8 million people with Alzheimer’s disease…Each patient is worth, on average, $27672 per year.

This is why companies like this are fighting so hard to get a piece out of your medicine cabinet.

This gives investors like you a great opportunity.

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.

Recommended story: The price difference between supply and demand

Get a Free Copy of Zacks Research Report on the New York Mortgage Trust (NYMT)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

This instant news alert was created by narrative science technology and MarketBeat financial data to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should You Invest $1,000 in a New York Mortgage Fund Right Now?

Before you consider a New York mortgage fund, you’ll want to hear this.

MarketBeat tracks the top-rated and best performing research analysts on Wall Street and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before it picks up on the broader market… New York Mortgage Trust wasn’t on the list.

While the New York Mortgage Trust currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View stock 5 here

.

About the author

Publishing Team

Leave a Comment