- New York Mortgage Trust ( NASDAQ: NYMT ) stock slipped 2.4% in Wednesday morning trading after Jones Research analyst Jason Stewart downgraded the commercial mortgage REIT to Hold after it turned in disappointing Q4 results .
- Stewart calculates NYMT's core EPS loss at $0.12, missing his estimate of C$0.04 and the $0.02 consensus. Higher interest costs pushed the company's net interest margin down by 107 basis points to 111 bps from 218 bps in Q3 2022.
- The analyst sees significant opportunity in New York Mortgage Trust's ( NYMT ) preferred shares, pointing to its series D ( NASDAQ: NYMTN ), series F ( NASDAQ: NYMTM ), and Series G shares.
- The Hold recommendation aligns with the average Wall Street rating .
- SA contributor Pacifica Yield, also with a Hold rating on NYMT, sees no disruption to the 12.7% yield .
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New York Mortgage Trust cut to Hold at Jones; see opportunity in preferred