New York Mortgage Trust: The Best mREIT In America Is Firing On All Cylinders
- New York Mortgage Trust is a hybrid mREIT, whose management team has proven itself superior to its competitors.
- Its strategy of diversifying away from more interest rate-sensitive agency debt and into CMBS multifamily assets has resulted in just a 3% decline in book value.
- Competitors have faced double-digit declines in book value, and have been slashing dividends quarter after quarter. New York Mortgage Trust has maintained its dividend 7 consecutive quarters.
- Currently, the stock is trading at 1.26x book value, which will likely lead to a secondary offering which will be accretive to existing shareholders and grow the company.
- Patient investors are likely to get the chance to buy this best-of-breed mREIT at a yield of 15%-17% within a few weeks.