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UPDATE: Deutsche Bank Downgrades New York Mortgage Trust Following Solid 4Q Results

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UPDATE: MLV & Co Reiterates On New York Mortgage Trust On Double-Edged Sword

In a report published Monday, Deutsche Bank analyst Stephen Laws downgraded the rating on New York Mortgage Trust (NASDAQ: NYMT) from Buy to Hold, but raised the price target from $7.00 to $7.75.

In the report, Deutsche Bank “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.”

New York Mortgage Trust closed on Friday at $7.57.

Latest Ratings for NYMT

DateFirmActionFromTo
Oct 2014BarclaysInitiates Coverage onEqual-weight
Aug 2014Deutsche BankMaintainsHold
Aug 2014Keefe Bruyette & WoodsMaintainsMarket Perform

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Posted-In: Deutsche Bank Stephen LawsAnalyst Color Downgrades Analyst Ratings

 

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