Keefe Bruyette & Woods Maintains New York Mortgage Trust Inc to Market Perform with Price Target $6.75

Brokerage firm Keefe Bruyette & Woods Maintains its rating on New York Mortgage Trust Inc(NASDAQ:NYMT). In a research note issued to the investors, the brokerage major Raises the price-target to $6.75 per share. The shares have been rated Market Perform. The rating by Keefe Bruyette & Woods was issued on Aug 9, 2016.

New York Mortgage Trust Inc (NYMT) shares turned negative on Wednesdays trading session with the shares closing down -0.1 points or -1.58% at a volume of 7,31,720. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.36. The peak price level was also seen at $6.36 while the days lowest was $6.21. Finally the shares closed at $6.24. The 52-week high of the shares is $6.9 while the 52-week low is $3.82. According to the latest information available, the market cap of the company is $684 M.

New York Mortgage Trust Inc(NYMT) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $16.66M. Analysts had an estimated revenue of $76.76M. Earnings per share were $0.10.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, Kevin M. Donlon (President) purchased 58,004 shares at $6.30 per share price.Also, On Aug 10, 2015, Steven R Mumma (CEO) purchased 15,000 shares at $6.67 per share price.On Aug 10, 2015, Kristine Rimando Nario (CFO) purchased 2,200 shares at $6.59 per share price, according to the Form-4 filing with the securities and exchange commission.

New York Mortgage Trust Inc. is a real estate investment trust (REIT). The Company acquires invests in finances and manages primarily mortgage-related assets. The Company’s portfolio includes certain credit sensitive assets and investments sourced from distressed markets. Its targeted assets include residential mortgage loans including distressed residential loans 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 commercial real estate-related debt investments and Agency RMBS. The Company invests in other commercial real estate-related investments such as the origination or acquisition of mezzanine loans to and preferred equity investments in owners of multi-family properties with a focus on conventional apartments cooperative housing associations student housing and other related property types.

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