Still holding my small core position, did not chase the follow on offering for the reason that is playing out today . . . MBS prices were bid up too high in front of QE3 and a correction is at hand. Although NYMT due to the recent offerings has alot of assets parked in MBS short term for eventual movement into CMBS. Unfortunately, therefore, it is caught up in the correction in the broader MBS market.
I didn't get there as cheap as you guys (6.93) but it looks like the complete SO will sell today. If you look at the 50,200,400 day moving averages anything under $7 is a good and safe buy and at 15.50 yield your money doubles in 5 years, that's not counting any stock appreciation. I don't want to mislead anyone so I won't post numbers, but take a look at a 10,000 share purchase today and it's value in four years if it goes to $8 a share and no change in the $1.08 dividend.