The stock of New York Mortgage Trust Inc (NASDAQ:NYMT) hit a new 52-week high and has $8.29 target or 25.00% above today’s $6.63 share price. The 6 months bullish chart indicates low risk for the $736.53 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $8.29 price target is reached, the company will be worth $184.13 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 827,680 shares traded hands or 2.04% up from the average. New York Mortgage Trust Inc (NASDAQ:NYMT) has risen 32.19% since April 19, 2016 and is uptrending. It has outperformed by 28.33% the S&P500.
New York Mortgage Trust Inc (NASDAQ:NYMT) Ratings Coverage
Out of 6 analysts covering New York Mortgage Trust (NASDAQ:NYMT), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. New York Mortgage Trust has been the topic of 11 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, February 25 by Maxim Group. FBR Capital initiated the shares of NYMT in a report on Monday, October 10 with “Mkt Perform” rating. The rating was downgraded by Zacks to “Hold” on Tuesday, August 11. As per Tuesday, November 10, the company rating was maintained by Barclays Capital. The firm has “Hold” rating given on Thursday, August 6 by Deutsche Bank. The company was maintained on Monday, November 9 by Maxim Group. On Thursday, February 25 the stock rating was maintained by Deutsche Bank with “Hold”. Barclays Capital maintained New York Mortgage Trust Inc (NASDAQ:NYMT) on Tuesday, August 11 with “Equal Weight” rating. The rating was maintained by Wood on Tuesday, August 9 with “Market Perform”.
According to Zacks Investment Research, “New York Mortgage Trust is a real estate investment trust focused on owning and managing a leveraged portfolio of residential mortgage securities and a mortgage origination business. The mortgage portfolio is comprised largely of prime adjustable-rate and hybrid mortgage loans and securities, much of which, over time will be originated by NYMT’s wholly owned mortgage origination business, The New York Mortgage Company, a taxable real estate investment trust subsidiary.”
Insitutional Activity: The institutional sentiment increased to 1.85 in 2016 Q2. Its up 0.42, from 1.43 in 2016Q1. The ratio improved, as 12 funds sold all New York Mortgage Trust Inc shares owned while 30 reduced positions. 17 funds bought stakes while 43 increased positions. They now own 28.05 million shares or 1.63% less from 28.52 million shares in 2016Q1.
Blackrock Grp Limited has invested 0% of its portfolio in New York Mortgage Trust Inc (NASDAQ:NYMT). Lsv Asset has 0.01% invested in the company for 695,600 shares. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 5,900 shares. Ironsides Asset Advisors Ltd Liability Corporation holds 11,190 shares or 0.02% of its portfolio. Geode Cap Management accumulated 0% or 796,777 shares. Stephens Incorporated Ar has 0% invested in the company for 13,150 shares. Amer Grp accumulated 0% or 63,352 shares. Wellington Mgmt Grp Ltd Liability Partnership holds 99,318 shares or 0% of its portfolio. Janney Montgomery Scott Limited Liability Corp owns 64,800 shares or 0.01% of their US portfolio. The New York-based Citigroup has invested 0% in New York Mortgage Trust Inc (NASDAQ:NYMT). Moreover, Suntrust Banks has 0% invested in New York Mortgage Trust Inc (NASDAQ:NYMT) for 17,115 shares. Morgan Stanley last reported 34,769 shares in the company. Ameriprise has 0% invested in the company for 21,504 shares. Blackrock accumulated 0% or 36,853 shares. California Employees Retirement Sys has 0% invested in the company for 427,700 shares.
Insider Transactions: Since May 23, 2016, the stock had 2 buys, and 0 insider sales for $1.57 million net activity. 1,600 shares were bought by Donlon Kevin M., worth $8,960.
More notable recent New York Mortgage Trust Inc (NASDAQ:NYMT) news were published by: Seekingalpha.com which released: “New York Mortgage Trust: Be Extremely Careful” on November 16, 2016, also Globenewswire.com with their article: “New York Mortgage Trust Reports Third Quarter 2016 Results” published on November 01, 2016, Benzinga.com published: “Jim Cramer Shares His Opinion On Teva, Visa, New York Mortgage Trust And …” on November 17, 2016. More interesting news about New York Mortgage Trust Inc (NASDAQ:NYMT) were released by: Seekingalpha.com and their article: “New York Mortgage Trust: Insider Buying And The Huge Fall In Share Prices” published on July 06, 2016 as well as Seekingalpha.com‘s news article titled: “New York Mortgage Trust’s Dividend Is Doomed” with publication date: August 17, 2016.
NYMT Company Profile
New York Mortgage Trust, Inc., incorporated on September 26, 2003, is a real estate investment trust. The Firm is engaged in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets. The Company’s investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, multi-family commercial mortgage-backed securities (CMBS), mezzanine loans to and preferred equity investments in owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and commercial real estate-related debt investments, and Agency residential mortgage-backed securities (RMBS). The Firm may also acquire and manage various other types of mortgage-related and financial assets, including non-Agency RMBS, collateralized mortgage obligations and securities issued by newly originated residential securitizations, including credit sensitive securities from these securitizations. The Company’s portfolio also includes distressed residential mortgage loans held in securitization trusts and prime adjustable-rate mortgage (ARM) loans held in securitization trusts.
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