New York Mortgage Trust (NASDAQ:NYMT) : 5 analysts are covering New York Mortgage Trust (NASDAQ:NYMT) and their average rating on the stock is 2.2, which is read as a Buy. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
New York Mortgage Trust (NASDAQ:NYMT) : 5 Wall Street analysts covering New York Mortgage Trust (NASDAQ:NYMT) believe that the average level the stock could reach for the short term is $5.7. The maximum price target given is $7 and the minimum target for short term is around $5, hence the standard deviation is calculated at $0.57.
Company shares have received an average consensus rating of Hold for the current week
New York Mortgage Trust (NASDAQ:NYMT): stock turned positive on Tuesday. Though the stock opened at $5.85, the bulls momentum made the stock top out at $6 level for the day. The stock recorded a low of $5.82 and closed the trading day at $5.98, in the green by 2.93%. The total traded volume for the day was 666,781. The stock had closed at $5.81 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (President) of New York Mortgage Trust Inc, Donlon Kevin M., had purchased 58,004 shares in a transaction dated on June 9, 2016. The transaction was executed at $6.3 per share with total amount equaling $365,425.
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 Companys 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.