Invesco Trust for Investment Grade New York Municipals (VTN): fair value, margin of safety and Wheel Score

Is VTN undervalued?

VTN closed at 9.97 on 5 Nov 2026 against a GLS average fair value of 9.07 - 9.9% above fair value, which our scans read as "fairly priced". 3 of 8 models are above the current price. There is no discount to lean on here, so the margin of safety is not the reason to look at the stock.

The 8 models disagree widely: EPV gives 3.45 while Graham Growth gives 17.78. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.

Ranked against every other company we cover, VTN is clearly cheaper than it is fast-growing, so the nightly engine files it under Value (value score 43, growth score 23, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).

Nine valuation models for VTN

Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.

Quality and financial health

Financial health is average - VTN passes 6 of the nine Piotroski tests, which passes the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 4.3 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.

Returns on capital are thin or negative - ROIC 1.9%, ROE 2.8%, ROA 1.9% - with debt at 0.47 times equity and a free-cash-flow yield of 4.3%.

The dividend yield is high at 8.24% (payout ratio 157%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.

Institutional ownership scores 2/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 18: No options

VTN has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business. It fails the first Wheel Trade Filter (options that actually trade), so the score stays under 70 and is shown as "No options" (18 here). The valuation and quality numbers still apply to owning the shares outright.

Volume runs at 62k shares a day on a market cap of $146M, with a beta of 0.72 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.

Upcoming events

No upcoming earnings date is recorded for VTN in the nightly calendar. The shares go ex-dividend on 16 Nov 2026 (0.0685 per share), so a covered call sold before then carries a small early-assignment risk around that date.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

Similar stocks in Asset Management

The 12 companies below are the closest to Invesco Trust for Investment Grade New York Municipals by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.

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