New York Mortgage Trust (NYMT) came out with a quarterly loss of $0.25 per share versus the Zacks Consensus Estimate of $0.05. This compares to loss of $0.33 per share a year ago.
New York Mortgage Trust is a mREIT focused on agency residential mortgage-backed securities but also holds a 15% pure real estate exposure to multifamily. The Series G 7% fixed-rate preferred shares have significantly outperformed the iShares Preferred and Income Securities ETF in 2024. I expect the outperformance to continue thanks to a solid current yield and ample capital gain potential if operational performance stabilizes.
NYMTI: The New 9.125% Bond From Mortgage REIT New York Mortgage Trust