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NYMTG - New York Mortgage Trust: Q4 Update And Evaluating Its 9-11% Yielding Senior Securities
New York Mortgage Trust Inc. 9.125% Senior Notes Due 2030
2025-03-07 13:57:10 ET
Summary
New York Mortgage Trust, Inc.'s Q4 results showed a 5.6% book value loss due, in part, to rising Agency yields, partially offset by swap hedges.
NYMT's liability profile is favorable, with low recourse/mark-to-market leverage and a significant portion of financing through non-recourse securitizations.
We find NYMT's senior securities, particularly NYMTM and NYMTI, attractive due to their high yields and the company's high Agency allocation and liquidity.