NY MTG TR INC/SH (NASDAQ:NYMT) received a $7.00 target price from Maxim Group in a research note issued on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Maxim Group’s price objective would indicate a potential upside of 14.94% from the stock’s previous close.
A number of other brokerages also recently weighed in on NYMT. BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Zacks Investment Research raised shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Finally, Nomura decreased their target price on shares of Carnival from $66.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. NY MTG TR INC/SH has an average rating of “Hold” and an average target price of $6.31.
NYMT stock remained flat at $$6.09 during trading on Friday. 3,521,742 shares of the company were exchanged, compared to its average volume of 2,347,861. NY MTG TR INC/SH has a 12 month low of $5.58 and a 12 month high of $6.54. The company has a market capitalization of $1.28 billion, a PE ratio of 7.08 and a beta of 0.81. The business has a 50 day moving average of $6.19. The company has a current ratio of 120.54, a quick ratio of 120.54 and a debt-to-equity ratio of 14.72.
NY MTG TR INC/SH (NASDAQ:NYMT) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. NY MTG TR INC/SH had a net margin of 21.47% and a return on equity of 13.32%. The company had revenue of $26.20 million during the quarter, compared to the consensus estimate of $23.00 million. On average, research analysts expect that NY MTG TR INC/SH will post 0.64 earnings per share for the current year.
In other NY MTG TR INC/SH news, Director Alan L. Hainey sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $6.27, for a total transaction of $62,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of NYMT. Quadrant Capital Group LLC purchased a new stake in shares of NY MTG TR INC/SH during the first quarter valued at approximately $31,000. Parallel Advisors LLC grew its holdings in shares of NY MTG TR INC/SH by 1,123.2% during the first quarter. Parallel Advisors LLC now owns 9,419 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 8,649 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of NY MTG TR INC/SH during the second quarter valued at approximately $68,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of NY MTG TR INC/SH during the first quarter valued at approximately $111,000. Finally, Amalgamated Bank grew its holdings in shares of NY MTG TR INC/SH by 10.4% during the fourth quarter. Amalgamated Bank now owns 21,957 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 2,065 shares during the last quarter. Hedge funds and other institutional investors own 47.81% of the company’s stock.
NY MTG TR INC/SH Company Profile
New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related and residential housing-related assets in the United States. Its investment portfolio includes structured multi-family property investments, such as multi-family commercial mortgage-backed securities and preferred equity in, and mezzanine loans to owners of multi-family properties; residential mortgage loans, including distressed residential mortgage loans, non- qualified mortgage loans, second mortgages, and other residential mortgage loans; non-agency residential mortgage-backed securities (RMBS); agency RMBS; and other mortgage-related and residential housing-related assets.
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