BlackRock Fund Advisors recently announced the acquisition of new stake in New York Mortgage Trust Inc. (NASDAQ:NYMT). The institutional investor has increased its shareholding in the Real Estate company by 2.66% to 61.64 million shares with purchase of 1.6 million shares. This fresh investment now brings its stake to 16.33% valued currently at $161.5 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.26 million to 21.99 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.36% or 0.17 million shares – to 13.0 million shares.
With over 2.53 million New York Mortgage Trust Inc. (NYMT) shares trading Tuesday and a closing price of $2.71 on the day, the dollar volume was approximately $6.84 million. The shares have shown a positive weekly performance of 1.12% and its price on 08/25/20 lost nearly -0.37%. Currently, there are 377.47M common shares owned by the public and among those 375.28M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for NYMT have a consensus price objective of $3.08. The analysts have set the share’s price value over the next 12 months at a high of $3.50 and a low of $2.50 should the stock experience a downside. Incidentally, analysts’ outlook for the New York Mortgage Trust Inc. stock is 2.60 for the next 12 months. The average price target is 10.86% above its last price level and an upside to the estimated low will see the stock lose -8.4% over that period. But an upside of 22.57% will see the stock hit the forecast high price target while mean target price for the stock is $3.13.
Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 985,820 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 23,680 shares.
The top 3 mutual fund holders in New York Mortgage Trust Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and iShares Tr. – Mortgage Real Estat. iShares Core S&P Small Cap ETF owns 23.5 million shares of the company’s stock, all valued at over $61.56 million. The company bought an additional 83958.0 shares recently to bring their total holdings to about 6.23% of the shares outstanding. Vanguard Total Stock Market Index sold 26033.0 shares to see its total holdings shrink to 10.94 million shares valued at over $28.66 million and representing 2.90% of the shares outstanding. iShares Tr. – Mortgage Real Estat bought 0.23 million shares to bring its total holdings to over 8.67 million shares at a value of $22.71 million. iShares Tr. – Mortgage Real Estat now owns shares totaling to 2.30% of the shares outstanding.
Shares of New York Mortgage Trust Inc. (NASDAQ: NYMT) opened at $2.73, up $0.01 from a prior closing price of $2.72. However, the script later closed the day at $2.71, down -0.37%. The company’s stock has a 5-day price change of 1.12% and 16.31% over the past three months. NYMT shares are trading -56.50% year to date (YTD), with the 12-month market performance down to -56.43% lower. It has a 12-month low price of $0.98 and touched a high of $6.47 over the same period. Currently, 2.53 million shares have been traded, compared to an average intraday trading volume of 6.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.48%, 3.39%, and -31.73% respectively.
Institutional ownership of New York Mortgage Trust Inc. (NASDAQ: NYMT) shares accounts for 54.00% of the company’s 377.47M shares outstanding. Mutual fund holders own 23.28%, while other institutional holders and individual stakeholders account for 30.20% and 1.08% respectively.
It has a market capitalization of $1.06B and a beta (3y monthly) value of 1.90. The earnings-per-share (ttm) stands at -$1.09. The company has a debt-to-equity ratio at 1.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.33% over the week and 4.54% over the month.
Analysts forecast that New York Mortgage Trust Inc. (NYMT) will achieve an EPS of $0.05 for the current quarter, $0.06 for the next quarter and $0.33 for 2021. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was $0.15 a year ago. Earnings per share for the fiscal year are expected to increase by 5.40%, and 125.20% over the next financial year. EPS should grow at an annualized rate of 6.59% over the next five years, compared to -15.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate New York Mortgage Trust Inc. (NYMT) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 6 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NYMT, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on May 27, 2020, with the firm’s price target at. Credit Suisse coverage for the New York Mortgage Trust Inc. (NYMT) stock in a research note released on April 24, 2020 offered a Neutral rating with a price target of $2.50. Maxim Group was of a view on March 25, 2020 that the stock is Hold, while BofA/Merrill gave the stock Neutral rating on February 21, 2020, issuing a price target of $6.25. Ladenburg Thalmann on their part issued Buy rating on August 06, 2019.