Principal Financial Group reduced its stake in New York Mortgage Trust (NASDAQ:NYMT – free report ) by 0.4% in the first quarter, according to its latest disclosure with the Securities and Exchange Commission. The fund sold 1,831 shares during the quarter to hold 470,943 shares of the real estate investment trust. Principal Financial Group holds about 0.52% of New York Mortgage Trust stock, valued at $3,391,000, as of the latest SEC filing.
A number of other hedge funds also modified their holdings in NYMT. EMG Holdings increased its holdings in New York Mortgage Trust by 192.1% in the fourth quarter. EMG Holdings now holds 555,930 shares of the real estate investment trust valued at $4,742,000 after acquiring an additional 365,622 shares in the last quarter. Texas Teachers Retirement System acquired a new position in New York Mortgage Trust in the fourth quarter for approximately $201,000. Charles Schwab Investment Management increased its holdings in New York Mortgage Trust by 9.5% in the fourth quarter. Charles Schwab Investment Management now holds 1,527,776 shares of the real estate investment trust valued at $13,032,000 after acquiring an additional 132,162 shares during the period. Kestra Private Wealth Services LLC bought a new stake in New York Mortgage Trust in the fourth quarter worth $115,000. Finally, Van ECK Associates Corp increased its holdings in New York Mortgage Trust by 2.2% in the fourth quarter. Van ECK Associates Corp now owns 571,613 shares of the real estate investment trust's stock, valued at $4,876,000, after acquiring an additional 12,236 shares during the period. 54.89% of the stock is now owned by institutional investors and hedge funds.
New York Mortgage Trust stock performance
NASDAQ NYMT's shares opened trading at $5.89 on Friday. The company has a debt-to-equity ratio of 5.03, a current ratio of 4.02 and a quick ratio of 4.02. The company's 50-day moving average price is $6.08 and its 200-day moving average price is $7.09. New York Mortgage Trust, Inc.'s 12-month low is $5.65 and its 12-month high is $10.63.
New York Mortgage Trust (NASDAQ:NYMT – Get free report ) last released its earnings results on Wednesday, May 1st. The real estate investment trust announced quarterly earnings per share (EPS) of ($0.30), missing analysts' consensus estimates of $0.12 by ($0.42). The company's quarterly revenue was $83.89 million, beating analysts' estimates of $19.64 million. New York Mortgage Trust had a return on equity of -2.60% and a net margin of -44.65%. During the same period last year, the company posted an EPS of $0.11. Analysts expect New York Mortgage Trust to post an EPS of -0.46 this year.
New York Mortgage Trust announces dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.20. The ex-dividend date is Thursday, June 27th. This equates to a dividend of $0.80 on an annualized basis, or a dividend yield of 13.58%. New York Mortgage Trust has a dividend payout ratio of -43.24%.
Analyst upgrades and downgrades
NYMT has been the subject of numerous research reports. Keefe, Bruyette & Woods lowered their price target on New York Mortgage Trust from $8.50 to $7.00 and gave the company a “in line with market” rating in a report on Friday, May 3rd. StockNews.com lowered New York Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. B. Riley reissued a “buy” rating on shares of New York Mortgage Trust and set their price target at $11.00 from $15.00 in a research report on Monday, March 25th. Finally, UBS Group lowered their price target on New York Mortgage Trust from $7.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th.
Check out the latest New York Mortgage Trust stock report
New York Mortgage Trust Company Profile
(Free report)
New York Mortgage Trust, Inc acquires, invests in, finances and manages mortgage-related single-family and multifamily residential assets in the U.S. Its investments include residential mortgages, including business loans, structured multifamily investments such as preferred equity and mezzanine loans to apartment block owners, non-agency residential mortgage-backed securities (RMBS), agency RMBS, commercial residential mortgage-backed securities (CMBS), single-family rental properties and other mortgage-, housing- and credit-related assets.
Recommended articles
Want to know which other hedge funds are holding NYMT? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for New York Mortgage Trust, Inc. (NASDAQ:NYMT – FREE Report).
Get New York Mortgage Trust News and Ratings Daily – Enter your email address below to receive a concise summary of the latest news and analyst ratings for New York Mortgage Trust and its affiliates every day with MarketBeat.com's free email newsletter.