New York Mortgage Trust Inc. (NASDAQ: NYMT) stock fell -3.83% on Thursday to $9.30 against a previous-day closing price of $9.67. With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.72 million shares. During the session, the REIT – Mortgage company that operates in wider Real Estate sector, reached to the highest price of $9.62 whereas the lowest price it dropped to was $9.21. The 52-week range on NYMT shows that it touched its highest point at $12.96 and its lowest point at $8.09 during that stretch. It currently has a 1-year price target of $13.05. With its current market cap of 859.23 million, NYMT has annualized dividend of $1.60 while the current yield stands at 17.20%. Beta for the stock currently stands at 1.85.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NYMT was down-trending over the past week, with a drop of -6.44%, but this was down by -6.72% over a month. Three-month performance dropped to -11.60% while six-month performance fell -14.13%. The stock lost -16.46% in the past year, while it has lost -9.18% so far this year. A look at the trailing 12-month EPS for NYMT yields -2.60 with Next year EPS estimates of 1.37. For the next quarter, that number is 0.15. This implies an EPS growth rate of -338.50% for this year and 92.03% for next year. EPS is expected to grow by 6.59% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -27.60%.
Float and Shares Shorts:
At present, 91.31 million NYMT shares are outstanding with a float of 90.08 million shares on hand for trading. On May 14, 2023, short shares totaled 2.65 million, which was 2.91% higher than short shares on Apr 13, 2023. In addition to Mr. Steven R. Mumma CPA as the firm’s Exec. Chairman, Mr. Jason T. Serrano serves as its CEO & Director.
Through their ownership of 55.62% of NYMT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 37.80% of NYMT, in contrast to 18.84% held by mutual funds. Shares owned by individuals account for 0.54%. As the largest shareholder in NYMT with 16.77% of the stake, BlackRock Fund Advisors holds 15,324,945 shares worth 15,324,945. A second-largest stockholder of NYMT, The Vanguard Group, Inc., holds 6,249,605 shares, controlling over 6.84% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in NYMT, holding 3,777,401 shares or 4.13% stake. With a 7.59% stake in NYMT, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,940,035 shares are owned by the mutual fund manager. The Allspring Special Small Cap Value, which owns about 3.26% of NYMT stock, is the second-largest Mutual Fund holder. It holds 2,977,701 shares valued at 30.61 million. Vanguard Total Stock Market ETF holds 3.09% of the stake in NYMT, owning 2,824,150 shares worth 29.03 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NYMT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NYMT analysts setting a high price target of $20.00 and a low target of $10.00, the average target price over the next 12 months is $13.05. Based on these targets, NYMT could surge 115.05% to reach the target high and rise by 7.53% to reach the target low. Reaching the average price target will result in a growth of 40.32% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, NYMT has a current ratio of $1.6, which is $1.6 over the trailing 12-months, while a dividend of $2.27 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and NYMT currently yields $17.2. In the past year, NYMT’s dividend yield has been $17.2, but when looking at the stock over the past five years, its yield has been $14.30. Accordingly, NYMT has a current buyback yield of $5.66. This was $5.66 for the TTM.
Summary of Insider Activity:
Insiders traded NYMT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 1,284,838 while 583,212 shares were sold.