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NYMTZ - 13% Dividend Yield And 25% Discount To NAV Buy It
New York Mortgage Trust Inc. 7.000% Series G Cumulative Redeemable Preferred Stock $0.01 par value per share
We picked up another new position in the common shares when the market went into a panic.
A significant portion of the pain in the sector is warranted. April has been dreadful for several mortgage REITs, but there are plenty of gems in the rough.
Q1 2022 was garbage also, so some prices needed to fall more than 30% year-to-date and a few still have further to go.
The wonderful thing is that the falling share prices haven’t reflected the underlying damage. Investors are in for some surprises.
When the market simply dumps a sector, there’s a great opportunity to hunt for the gems while avoiding the trash.