In a remarkable show of strength, New York Mortgage (NASDAQ:NYMT) Trust Preferred (NYMTL) stock has soared to a 52-week high, reaching a price level of $22.92. This peak reflects a significant uptrend for the company, which has delivered an impressive year-to-date return of 27.22%. The stock stands out with its attractive 7.51% dividend yield, maintained consistently for 21 consecutive years. According to InvestingPro analysis, NYMTL appears slightly undervalued at current levels. Investors have shown increased confidence in NYMTL, as the stock's robust performance over the past year signals a positive outlook for the company's financial health and future prospects. The achievement of this 52-week high marks a noteworthy milestone for NYMTL and underscores the stock's potential for continued growth. With a strong current ratio of 16.49, the company maintains solid liquidity. InvestingPro subscribers can access 7 additional exclusive tips and comprehensive financial metrics to make more informed investment decisions.
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