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New York Mortgage Trust Inc. 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
We’re highlighting two good mortgage REITs trading at substantial discounts to book value: CMO and NYMT. We're bullish on both.
Each trades at a large enough discount to offer substantial upside, and the portfolio of MBS they carry is capable of performing well in this environment.
Discounts to book value (or NAV) are the start of your mortgage REIT analysis, but not the end.
In this series, we’re providing readers with the discounts to trailing book values throughout the sector and a few notes on the current environment.
When we provide an index card for an individual mortgage REIT, it includes our most recent estimate on book values.