New York Mortgage Trust (NYMT) has risen sharply, recording gains of 4.45% in the past 4 weeks. However, the stock has corrected -3.06% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.91% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
New York Mortgage Trust (NASDAQ:NYMT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.13 and $6.12 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.43. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.34, notching a gain of 3.43% for the day. The total traded volume was 1,164,083 . The stock had closed at $6.13 on the previous day.
The stock has recorded a 20-day Moving Average of 0.09% and the 50-Day Moving Average is 1.98%. New York Mortgage Trust Inc. is up 14.86% in the last 3-month period. Year-to-Date the stock performance stands at 18.95%.
New York Mortgage Trust (NYMT) has been rated by 5 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $7 and the lowest price target forecast is $5. The average forecast of all the analysts is $5.7 and the expected standard deviation is $0.57.
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.