Insider Buying: Nicholas S. Schorsch Buys 15,000 Shares of New York REIT Stock (NYRT)
New York REIT (NASDAQ:NYRT) CEO Nicholas S. Schorsch acquired 15,000 shares of New York REIT stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average cost of $10.29 per share, with a total value of $154,350.00. Following the completion of the transaction, the chief executive officer now directly owns 55,000 shares in the company, valued at approximately $565,950. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
NYRT has been the subject of a number of recent research reports. Analysts at Evercore Partners initiated coverage on shares of New York REIT in a research note on Monday, July 14th. They set an “equal weight” rating and a $11.50 price target on the stock. Analysts at JMP Securities initiated coverage on shares of New York REIT in a research note on Tuesday, July 8th. They set a “market perform” rating on the stock.
New York REIT (NASDAQ:NYRT) traded up 1.06% on Wednesday, hitting $10.46. 2,025,128 shares of the company’s stock traded hands. New York REIT has a 52 week low of $9.51 and a 52 week high of $12.32. The stock has a 50-day moving average of $10.68 and a 200-day moving average of $10.87. The company’s market cap is $1.694 billion.
New York REIT (NASDAQ:NYRT) last announced its earnings results on Monday, August 4th. The company reported $0.11 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.12 by $0.01. The company had revenue of $35.95 million for the quarter, compared to the consensus estimate of $33.50 million. On average, analysts predict that New York REIT will post $0.50 earnings per share for the current fiscal year.
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