New York Mortgage Trust slides as two bulls back off

New York Mortgage Trust (NYMT -3.1%) is the lone sufferer in mortgage REITs thus far today as two bulls cash in their chips following Q4 results - Ladenburg Thalmann and MLV Capital both downgrade to Hold from Buy.

No details are available, but the stock emerged relatively unscathed from the big mREIT selloff last year and trades at a healthy premium to $6.33 book value - a rarity these days in the sector.

Comments (3)
  • COBeeMan
    , contributor
    Comments (2982) | Send Message
    Trading at a healthy premium to BV is a good reason to sell an mREIT, especially if they think BV will flatline from here and aren't expecting a dividend increase. They are probably moving their money into something that has a discount to BV.
    6 Mar 2014, 10:47 AM Reply Like
  • Urbannek
    , contributor
    Comments (1525) | Send Message
    I bought on the dip. Also noticed that ARR and CYS also went down so it is hitting other mortgage REITS. MORL was also down a bit.
    6 Mar 2014, 05:45 PM Reply Like
  • COBeeMan
    , contributor
    Comments (2982) | Send Message
    I'm not selling because it is still above my cost basis and I am in it for the dividends rather than price appreciation. I'm also waiting for MORL to come down some more!
    7 Mar 2014, 05:44 PM Reply Like
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