BofA Securities slashes price target on New York Mortgage Trust Inc. [NYMT] – find out why.

New York Mortgage Trust Inc. [NASDAQ: NYMT] closed the trading session at $4.40 on 07/06/21. The day’s price range saw the stock hit a low of $4.36, while the highest price level was $4.47. The company report on July 1, 2021 that New York Mortgage Trust Announces Redemption of 7.875% Series C Cumulative Redeemable Preferred Stock.

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New York Mortgage Trust, Inc. (Nasdaq: NYMT) announced that it intends to redeem all 4,181,807 of the outstanding shares of the Company’s 7.875% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share (the “Series C Preferred Stock”), on July 30, 2021 (the “Redemption Date”). Shares of the Series C Preferred Stock are currently listed on the Nasdaq Global Select Market under the symbol “NYMTO.”.

All outstanding shares of Series C Preferred Stock will be redeemed at a cash redemption price of $25.00 per share, plus any accrued and unpaid dividends (whether or not declared) from July 15, 2021 up to, but not including, the Redemption Date (the “Redemption Price”). Dividends on the shares of Series C Preferred Stock will cease to accrue on the Redemption Date. Upon redemption, the shares of Series C Preferred Stock will no longer be deemed outstanding and all rights with respect to the shares of Series C Preferred Stock will cease and terminate, except only the right of the holders thereof to receive the Redemption Price, without interest, from the redemption and payment agent.

The stocks have a year to date performance of 19.24 percent and weekly performance of -1.35 percent. The stock has been moved at 22.22 percent over the last six months. The stock has performed -3.93 percent around the most recent 30 days and changed -2.76 percent over the most recent 3-months.

If compared to the average trading volume of 3.08M shares, NYMT reached to a volume of 2689315 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about New York Mortgage Trust Inc. [NYMT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NYMT shares is $4.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NYMT stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for New York Mortgage Trust Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 17, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on May 12, 2021, representing the official price target for New York Mortgage Trust Inc. stock.

The Average True Range (ATR) for New York Mortgage Trust Inc. is set at 0.10, with the Price to Sales ratio for NYMT stock in the period of the last 12 months amounting to 3.44. The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 0.76. Price to Free Cash Flow for NYMT in the course of the last twelve months was 55.33.

NYMT stock trade performance evaluation

New York Mortgage Trust Inc. [NYMT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.35. With this latest performance, NYMT shares dropped by -3.93% in over the last four-week period, additionally plugging by 22.22% over the last 6 months – not to mention a rise of 73.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NYMT stock in for the last two-week period is set at 39.99, with the RSI for the last a single of trading hit 35.42, and the three-weeks RSI is set at 43.25 for New York Mortgage Trust Inc. [NYMT]. The present Moving Average for the last 50 days of trading for this stock 4.56, while it was recorded at 4.45 for the last single week of trading, and 3.88 for the last 200 days.

New York Mortgage Trust Inc. [NYMT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and New York Mortgage Trust Inc. [NYMT] shares currently have an operating margin of -45.11 and a Gross Margin at +91.66. New York Mortgage Trust Inc.’s Net Margin is presently recorded at -194.97.

Return on Total Capital for NYMT is now -0.48, given the latest momentum, and Return on Invested Capital for the company is -2.36. Return on Equity for this stock declined to -12.80, with Return on Assets sitting at -2.05. When it comes to the capital structure of this company, New York Mortgage Trust Inc. [NYMT] has a Total Debt to Total Equity ratio set at 96.48. Additionally, NYMT Total Debt to Total Capital is recorded at 49.10, with Total Debt to Total Assets ending up at 47.69. Long-Term Debt to Equity for the company is recorded at 101.01, with the Long-Term Debt to Total Capital now at 40.13.

Reflecting on the efficiency of the workforce at the company, New York Mortgage Trust Inc. [NYMT] managed to generate an average of -$5,151,964 per employee. Receivables Turnover for the company is 7.18 with a Total Asset Turnover recorded at a value of 0.01.

Earnings per share (EPS) analysis for New York Mortgage Trust Inc. [NYMT] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NYMT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for New York Mortgage Trust Inc. go to 6.59%.

New York Mortgage Trust Inc. [NYMT]: Insider Ownership positions

There are presently around $893 million, or 54.30% of NYMT stock, in the hands of institutional investors. The top three institutional holders of NYMT stocks are: BLACKROCK INC. with ownership of 70,349,351, which is approximately 4.574% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 24,454,276 shares of the stock with an approximate value of $107.6 million in NYMT stocks shares; and STATE STREET CORP, currently with $54.88 million in NYMT stock with ownership of nearly 0.806% of the company’s market capitalization.

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Positions in New York Mortgage Trust Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 105 institutional holders increased their position in New York Mortgage Trust Inc. [NASDAQ:NYMT] by around 14,886,029 shares. Additionally, 102 investors decreased positions by around 17,454,283 shares, while 45 investors held positions by with 170,607,669 shares. The mentioned changes placed institutional holdings at 202,947,981 shares, according to the latest SEC report filing. NYMT stock had 24 new institutional investments in for a total of 2,849,315 shares, while 30 institutional investors sold positions of 3,773,606 shares during the same period.

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