10 Worst Performing REITs in 2024

7. New York Mortgage Trust, Inc. (NASDAQ:NYMT)

Year-to-Date Decline: 30.58%

Number of Hedge Fund Holders: 11

New York Mortgage Trust, Inc. (NASDAQ:NYMT) acquires, invests in, finances, and manages primarily mortgage-related single-family and multi-family residential assets. The firm’s investment portfolio includes credit sensitive single-family and multi-family assets and more traditional types of fixed-income investments that provide coupon income such as Agency RMBS.

The REIT has built a portfolio of credit sensitive assets providing attractive risk-adjusted returns over changing economic conditions. It continues to grow its investment portfolio with recent acquisitions primarily concentrated in more liquid Agency RMBS and shorter duration BPL-Bridge loans.  Agency RMBS offers the firm benefits including an expected outperformance in a rate easing cycle or economic downturn, portfolio diversification, and compelling risk-adjusted returns.

New York Mortgage Trust, Inc. (NASDAQ:NYMT) recorded second-quarter adjusted interest income of $84 million, up 63% year-over-year. The total investment portfolio increased by $563 million. With respect to investment activity, NYMT acquired $934 million of new investments. New York Mortgage Trust, Inc. (NASDAQ:NYMT) looks forward to the second half of 2024 with the flexibility offered by its portfolio composition and excess liquidity in changing market conditions.

Hence, New York Mortgage Trust, Inc. (NASDAQ:NYMT) is a diversified REIT that aims to deliver long-term stable distributions to stockholders over fluctuating economic conditions through a combination of net interest spread and capital gains from its diversified investment portfolio.