Zacks Investment Research downgraded shares of NEW YORK MTG TR (NYMT) from NEUTRAL to UNDERPERFORM on November 12, 2012, with a target price of $6.10.
New York Mortgage Trust is a real estate investment trust focused on owning and managing a leveraged portfolio of residential mortgage securities and a mortgage origination business. The mortgage portfolio is comprised largely of prime adjustable-rate and hybrid mortgage loans and securities, much of which, over time will be originated by NYMT's wholly owned mortgage origination business, The New York Mortgage Company, a taxable real estate investment trust subsidiary.
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