In a buoyant trading session, New York Mortgage (NASDAQ:NYMT) Trust Inc Preferred (NYMTM) stock soared to a 52-week high, reaching a price level of $25.22. According to InvestingPro analysis, the stock appears slightly undervalued at current levels. This peak reflects a significant uptrend for the real estate investment trust, which specializes in acquiring, investing, financing, and managing mortgage-related assets. Over the past year, NYMTM has witnessed a commendable total return of 21.54%, while maintaining its impressive 21-year track record of consistent dividend payments. The stock currently offers a substantial dividend yield of 7.93%. Investors have shown increased confidence in the company's performance and strategy, which is underscored by today's milestone high. The 52-week high serves as a testament to NYMTM's resilience and potential for growth in the competitive mortgage investment market. For deeper insights into NYMTM's performance metrics and eight additional exclusive ProTips, consider exploring InvestingPro.
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