Insider Buying: William M. Kahane Buys 10,000 Shares of New York REIT Stock (NYRT)
New York REIT (NASDAQ:NYRT) Director William M. Kahane bought 10,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average cost of $10.30 per share, for a total transaction of $103,000.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $515,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, 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.
Shares of New York REIT (NASDAQ:NYRT) opened at 10.50 on Friday. New York REIT has a 52 week low of $9.51 and a 52 week 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 issued its quarterly earnings data 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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