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NY Mortgage Mulls Options

The REIT has hired Milestone Advisors to review its strategic alternatives.

New York Mortgage Trust

(NTR) - Get Nutrien Ltd. Report

said Tuesday it has engaged a financial advisor to assist in the review and exploration of its strategic alternatives.

The mortgage real estate investment trust (REIT) hired Milestone Advisors "in response to recent unusual market activity and inquiries" it has received.

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New York Mortgage Trust said that "as a part of that process the company is currently engaged in discussions regarding a possible sale or merger of the company."

The company, which has a market cap of roughly $68 million, will not make further public statements regarding any sale or merger until either a definitive agreement is reached or discussions are terminated.