StockNews.com New York Mortgage Trust (NASDAQ: NYMT) Shares Drop, Making It a Selling Opportunity 2023

In a research note released on Wednesday, analysts at StockNews.com lowered their recommendation on New York Mortgage Trust (NASDAQ: NYMT) from “hold” to “sell.”

A number of additional research companies had recently remarked on NYMT. In a research note dated March 8th, Keefe, Bruyette & Woods lowered their price objective on New York Mortgage Trust to $2.50 and assigned the company a “market perform” rating. In a research note published on March 1st, Jonestrading reaffirmed its “hold” rating on New York Mortgage Trust shares. In a research note dated February 24th, LADENBURG THALM/SH SH reduced New York Mortgage Trust from a “buy” rating to a “neutral” rating and set a $12.00 price objective for the stock. One analyst has assigned a sell recommendation to the company’s stock, four have assigned a hold rating, and one has issued a buy rating. According to MarketBeat.com, the company now has an average rating of “Hold” and an average target price of $12.08.

3.8% Gain in New York Mortgage Trust Stock

NASDAQ: NYMT opened at $9.29 on Wednesday. The company has a market capitalization of $849.20 million, a price-to-earnings ratio of -2.58, and a beta of 1.78. New York Mortgage Trust has a one-year low of $8.28 and a one-year high of $15.00. The 50-day simple moving average for this stock is $11.31 and the 200-day simple moving average is $10.89. The business has a debt-to-equity ratio of 2.36, a quick ratio of 9.77, and a current ratio of 9.77.

The Opinions of Institutional Investors About New York Mortgage Trust

A number of hedge funds have lately altered their stakes in the company. Vanguard Group Inc. grew its position in shares of New York Mortgage Trust by 2.6% during the third quarter. Vanguard Group Inc. now owns 26,414,738 shares of the real estate investment trust’s stock valued at $61,810,000 after purchasing an additional 664,045 shares during the last quarter. In the second quarter, State Street Corp increased its holdings of New York Mortgage Trust by 1.7%. State Street Corp now owns 14,724,631 shares of the REIT’s stock, valued at $42,085,000, after purchasing an additional 245,751 shares in the last recent quarter. During the fourth quarter, Allspring Global Investments Holdings LLC increased its holdings of New York Mortgage Trust by 1.8%. Allspring Global Investments Holdings LLC now owns 14,597,681 shares of the real estate investment trust’s stock valued at $37,370,000 after buying an additional 253,092 shares during the last quarter. Geode Capital Management LLC grew its position in shares of New York Mortgage Trust by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,350,959 shares of the REIT’s stock worth $18,818,000 after purchasing an additional 91,489 shares in the last recent quarter. During the first quarter, Invesco Ltd. increased its holdings of New York Mortgage Trust shares by 26.5%. Invesco Ltd. now owns 6,009,670 shares of the REIT’s stock worth $21,935,000 after purchasing an additional 1,259,010 shares in the last recent quarter. 53.62% of the company’s stock is owned by institutional shareholders.