New York REIT Inc. (NYRT) Given Consensus Recommendation of “Hold” by Brokerages
Shares of New York REIT Inc. (NYSE:NYRT) have been assigned an average rating of “Hold” from the seven research firms that are currently covering the company. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $12.13.
Several research firms have recently weighed in on NYRT. Zacks Investment Research raised New York REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. TheStreet cut New York REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Compass Point began coverage on New York REIT in a research report on Thursday, June 30th. They set a “buy” rating and a $12.00 price objective for the company. Finally, JMP Securities reiterated a “buy” rating on shares of New York REIT in a report on Tuesday, June 28th.
Shares of New York REIT (NYSE:NYRT) traded up 0.96% on Wednesday, hitting $9.48. The stock had a trading volume of 337,187 shares. New York REIT has a one year low of $8.79 and a one year high of $11.90. The stock’s market capitalization is $1.56 billion. The firm’s 50 day moving average is $9.26 and its 200-day moving average is $9.57.
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New York REIT (NYSE:NYRT) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.02. The firm had revenue of $399 million for the quarter, compared to analyst estimates of $41.08 million. New York REIT had a negative return on equity of 3.03% and a negative net margin of 19.56%. The firm’s quarterly revenue was up 815.1% compared to the same quarter last year. Equities research analysts expect that New York REIT will post $0.38 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, October 7th were paid a $0.0383 dividend. The ex-dividend date was Wednesday, October 5th. This represents a $0.46 dividend on an annualized basis and a yield of 4.90%. New York REIT’s dividend payout ratio is -219.05%.
In other news, insider Patrick A. O’malley sold 8,311 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $9.25, for a total value of $76,876.75. Following the completion of the sale, the insider now directly owns 36,198 shares of the company’s stock, valued at $334,831.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William M. Kahane sold 93,818 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $9.09, for a total value of $852,805.62. Following the completion of the sale, the director now directly owns 117,818 shares of the company’s stock, valued at $1,070,965.62. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Wealthsource Partners LLC acquired a new stake in New York REIT during the first quarter worth about $108,000. Tower Research Capital LLC TRC purchased a new stake in New York REIT during the second quarter valued at $112,000. Quantbot Technologies LP boosted its stake in New York REIT by 194.4% in the second quarter. Quantbot Technologies LP now owns 12,872 shares of the company’s stock valued at $119,000 after buying an additional 8,500 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in New York REIT by 105.5% in the third quarter. BNP Paribas Arbitrage SA now owns 15,410 shares of the company’s stock valued at $141,000 after buying an additional 7,910 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in New York REIT by 578.3% in the second quarter. Nisa Investment Advisors LLC now owns 15,600 shares of the company’s stock valued at $144,000 after buying an additional 13,300 shares during the last quarter. 70.73% of the stock is owned by institutional investors.
About New York REIT
New York REIT, Inc is a real estate investment trust. The Company focuses on acquiring and owning office and retail properties in Manhattan. The Company’s business is primarily conducted through New York Recovery Operating Partnership, L.P. The Company owns approximately 20 properties in New York City, which aggregate approximately 3.4 million rentable square feet.
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