Deutsche Bank Starts New York Mortgage Trust (NYMT) at Buy

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December 21, 2012 10:04 AM EST
Get Alerts NYMT Hot Sheet
Price: $7.11 --0%

Rating Summary:
    6 Buy, 10 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Deutsche Bank initiates coverage on New York Mortgage Trust (NASDAQ: NYMT) with a Buy. PT $7.25.

The firm comments, "In October, NYMT raised just over $100 million through a secondary offering, which we expect to fund new investments into agency MBS, multi-family CMBS, and/or pools of distressed residential first lien mortgages. We expect the new investments to drive ROE expansion in 2013. Given this and with shares trading below our post-deal book value estimate, we are initiating coverage with a Buy rating. Our target of $7.25 per share is based on shares trading at a 10% premium to our BV estimate."

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 $6.32 yesterday.

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