New York Mortgage Trust: The Series G Preferred Shares Are A Turnaround Bet
NYMTNew York Mortgage Trust(NYMT) Seeking Alpha·2024-07-20 17:30
Stockernumber2Introduction New York Mortgage Trust's Series G 7% fixed-rate preferred shares (NASDAQ:NYMTZ) have significantly outperformed the iShares Preferred and Income Securities ETF (PFF) so far in 2024, delivering a 15% total return against the mid-single-digit gain for the benchmark ETF:  New York Mortgage Trust Series G preferred shares vs PFF in 2024 (Seeking Alpha)I expect the outperformance to continue as the Series G shares trade at a steep discount to par value. While the preferred dividen ...