In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on New York Mortgage Trust (NYMT), with a price target of $6.75. The company’s shares opened today at $6.21.
Diana noted:
“NYMT reported 4Q18 comprehensive income of $0.11, versus its dividend of $0.20; combined with an accretive equity raise, book value per share was down only 1.2%. In 4Q18’s environment of elevated volatility and spread- widening, this represented significant over-performance, as the average book value decline for mortgage REITs that have already reported is 8.4%.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.5% and a 59.9% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Arlington Asset Investment, and Westamerica Bancorporation.
New York Mortgage Trust has an analyst consensus of Hold.
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The company has a one-year high of $6.54 and a one-year low of $5.47. Currently, New York Mortgage Trust has an average volume of 1.9M.
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New York Mortgage Trust, Inc. operates as a real estate investment trust, which acquires, invests and manages primarily mortgage-related assets and financial assets. It invests in mortgage related and financial assets and targets residential mortgage loans, including second mortgages and loans sourced from distressed markets, multi-family CMBS, direct financing to owners of multi-family properties through mezzanine loans and preferred equity investments and other commercial real estate-related investments, agency RMBS consisting of fixed-rate, adjustable-rate and hybrid adjustable-rate RMBS and agency IOs consisting of interest only and inverse interest-only RMBS that represent the right to the interest component of the cash flow from a pool of mortgage loans. The company was founded on September 26, 2003 and is headquartered in New York, NY.
