New York Mortgage initiated a Buy at UBS

|About: New York Mortgage Trust,... (NYMT)|By:, SA News Editor

New York Mortgage Trust (NYMT +1.4%) is the largest gainer among mortgage REITs in early action after UBS starts the stock with a Buy and $10 price target, noting the firm is well-positioned to benefit from rising rates. Priced in? At $7.75 the stock is trading at 1.2x book value.