Deutsche Bank Downgrades New York Mortgage Trust (NYMT) to Hold

March 7, 2014 6:55 AM EST
Get Alerts NYMT Hot Sheet
Price: $6.31 +0.64%

Rating Summary:
    6 Buy, 6 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 29 | New: 23
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Deutsche Bank downgraded New York Mortgage Trust (NASDAQ: NYMT) from Buy to Hold with a price target of $7.75 (from $7.00).

Analyst Stephen Laws commented, "NYMT reported solid 4Q results as core EPS and NII were basically in line with our estimates and the allocation of capital towards credit-sensitive assets continued to increase (69% at 12/31 vs. 65% at 9/30). We expect portfolio leverage and the mix of credit-sensitive investments to increase in 1Q as recently raised capital is deployed. We are increasing our target to $7.75 per share from $7 per share. Given the valuation relative to our new target, we are reducing our rating to a Hold."

For an analyst ratings summary and ratings history on New York Mortgage Trust click here. For more ratings news on New York Mortgage Trust click here.

Shares of New York Mortgage Trust closed at $7.78 yesterday.

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