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Pre-Market Activity Shows Heavy Volume And Movement For New York Mortgage (NYMT)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified New York Mortgage ( NYMT) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified New York Mortgage as such a stock due to the following factors:

  • NYMT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $10.6 million.
  • NYMT traded 181,707 shares today in the pre-market hours as of 7:51 AM, representing 12.9% of its average daily volume.

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More details on NYMT:

New York Mortgage Trust, Inc., a real estate investment trust (REIT), is engaged in acquiring, investing in, financing, and managing mortgage-related and financial assets in the United States. The stock currently has a dividend yield of 13.4%. NYMT has a PE ratio of 7.2. Currently there are no analysts that rate New York Mortgage a buy, no analysts rate it a sell, and 4 rate it a hold.

The average volume for New York Mortgage has been 1.4 million shares per day over the past 30 days. New York has a market cap of $586.7 million and is part of the financial sector and real estate industry. The stock has a beta of 0.26 and a short float of 6.8% with 3.57 days to cover. Shares are up 11.3% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates New York Mortgage as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including poor profit margins and feeble growth in the company's earnings per share.

Highlights from the ratings report include:

  • NYMT's very impressive revenue growth greatly exceeded the industry average of 6.9%. Since the same quarter one year prior, revenues leaped by 95.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Real Estate Investment Trusts (REITs) industry and the overall market on the basis of return on equity, NEW YORK MORTGAGE TRUST INC has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
  • NEW YORK MORTGAGE TRUST INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, NEW YORK MORTGAGE TRUST INC reported lower earnings of $1.11 versus $1.25 in the prior year. For the next year, the market is expecting a contraction of 15.8% in earnings ($0.94 versus $1.11).
  • The gross profit margin for NEW YORK MORTGAGE TRUST INC is currently lower than what is desirable, coming in at 28.56%. Regardless of NYMT's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, NYMT's net profit margin of 23.68% compares favorably to the industry average.

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