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NYMTM - New York Mortgage Trust: Great Cities Survive Anything
New York Mortgage Trust Inc. 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
There's still a lot of negative sentiment around mREITS and around real estate in New York.
I acknowledge this is a fairly risky investment, but the portfolio looks like it's performing reasonably well, has high loan-to-value ratios, and is getting derisked.
My main worry is that stimuli programs roll off between the Trump Biden transition.
But, at a ~2x forward earnings multiple and a 7% dividend that can grow 50%, it looks quite attractive.