Added to YB: 2025-03-21
Pitch date: 2025-02-02
NYMTL [bullish]
Adamas Trust, Inc.
+21.62%
current return
Author Info
No bio for this author
Company Info
Adamas Trust, Inc. acquires, invests in, finances, and manages mortgage-related single-family and multifamily residential assets in the United States.
Market Cap
$821.3M
Pitch Price
$19.98
Price Target
28.00 (+15%)
Dividend
10.07%
EV/EBITDA
N/A
P/E
7.81
EV/Sales
N/A
Sector
Mortgage Real Estate Investment Trusts (REITs)
Category
dividend
New York Mortgage Trust, Inc. - $NYMTL
NYMTL: NYMT Series F preferred at 88% of par, 6.875% dividend. Reset to SOFR +613 in Oct 2026. Expect 15% IRR, 25% return over 18 months. NYMT shifted to Agency RMBS, reduced risky multifamily investments. Recent baby bond issuances show market access. Comparable mREIT preferreds support par valuation at float.
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