Sterne Agee Reports On New York Mortgage Trust Inc. (NYMT)

Sterne Agee published a report detailing the portfolio realignment of New York Mortgage Trust Inc. NYMT.

In the report, Sterne Agee states “The company continues to move funds and capital away from more traditional RMBS securities into higher return opportunities. The quarter saw a substantial sale of non-Agency assets, bringing this component of the portfolio down from $24mm to $9mm. The company continued to build its limited partnership investment during the quarter to $19.4mm at quarter end. In addition, the current quarter saw a new $25mm partnership formed with the Midway Group to invest in first lien mortgage assets.”

New York Mortgage Trust Fund Inc. has a Buy rating and a $7.90 PT.

New York Mortgage Trust Fund Inc. is currently traded at $7.15.