Insider Buying: Nicholas S. Schorsch Buys 15,000 Shares of New York REIT Stock (NYRT)
New York REIT (NASDAQ:NYRT) CEO Nicholas S. Schorsch purchased 15,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $565,950. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of New York REIT (NASDAQ:NYRT) opened at 10.50 on Friday. New York REIT has a 1-year low of $9.51 and a 1-year high of $12.32. The stock’s 50-day moving average is $10.65 and its 200-day moving average is $10.86. The company’s market cap is $1.701 billion.
New York REIT (NASDAQ:NYRT) last posted its quarterly 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. Analysts expect that New York REIT will post $0.50 EPS for the current fiscal year.
A number of analysts have recently weighed in on NYRT shares. 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.
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