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NYMTN - New York Mortgage Trust Issued New PFD: Retires Older One Again
New York Mortgage Trust Inc. 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Last fall, the New York Mortgage Trust (NYMT) used the proceeds of a newly issued Preferred (NYMTZ) to redeem all the shares of a higher coupon Preferred issued in 2013.
Last summer, they redeemed NYMTO by issuing a new Preferred (NYMTL). Both times NYMT cut their interest cost by about 100bps.
This article will review the features of NYMTZ and NYMTL, and then compare all four NYMT Preferreds to see which might be the best choice for investors at this time.