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New York Mortgage Trust's Series B Preferred Stock Crosses Above 8.5% Yield Territory

In trading on Tuesday, shares of New York Mortgage Trust Inc's 7.75% Series B Cumulative Redeemable Preferred Stock (NYMTP) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $1.9375), with shares changing hands as low as $22.75 on the day. This compares to an average yield of 7.20% in the "Real Estate" preferred stock category, according to Preferred Stock Channel..
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