Maxim Group Keeps Their Buy Rating on New York Mortgage (NYMT)

In a report released yesterday, Michael Diana from Maxim Group reiterated a Buy rating on New York Mortgage (NYMTResearch Report), with a price target of $4.00. The company’s shares closed yesterday at $2.17.

According to TipRanks, Diana is a 5-star analyst with an average return of 9.0% and a 42.76% success rate. Diana covers the Financial sector, focusing on stocks such as Ellington Financial, New York Mortgage, and AGNC Investment.

Currently, the analyst consensus on New York Mortgage is a Moderate Buy with an average price target of $3.50.

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Based on New York Mortgage’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $71.9 million. In comparison, last year the company earned a revenue of $73.19 million and had a net profit of $53.24 million

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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. Its investment portfolio includes structured multi-family property, residential mortgage loans, non-Agency RMBS, Agency RMBS, and certain other mortgage-related and residential housing-related assets. The company was founded on September 26, 2003 and is headquartered in New York, NY.

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