CYS Investments Inc (NYSE:CYS) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Saturday.
CYS has been the topic of a number of other reports. Keefe, Bruyette & Woods set a $8.00 price objective on CYS Investments and gave the company a “hold” rating in a research report on Saturday, May 27th. Wells Fargo & Company cut CYS Investments from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised CYS Investments from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a research report on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $8.46.
CYS Investments (NYSE:CYS) traded down 1.06% during midday trading on Friday, reaching $8.37. 1,311,154 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $8.49 and its 200-day moving average price is $8.08. CYS Investments has a one year low of $7.42 and a one year high of $9.21. The stock’s market cap is $1.27 billion.
CYS Investments (NYSE:CYS) last announced its earnings results on Wednesday, April 19th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $73.30 million for the quarter, compared to analysts’ expectations of $74.83 million. CYS Investments had a return on equity of 9.06% and a net margin of 46.40%. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. Equities analysts predict that CYS Investments will post $1.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Thursday, June 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.95%. CYS Investments’s payout ratio is currently -476.19%.
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In other news, CEO Kevin E. Grant sold 175,389 shares of CYS Investments stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $8.47, for a total transaction of $1,485,544.83. Following the transaction, the chief executive officer now directly owns 610,640 shares of the company’s stock, valued at approximately $5,172,120.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.04% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CYS. Comerica Bank boosted its position in CYS Investments by 244.0% in the fourth quarter. Comerica Bank now owns 235,538 shares of the real estate investment trust’s stock worth $1,865,000 after buying an additional 167,069 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of CYS Investments by 11.1% in the first quarter. Van ECK Associates Corp now owns 602,917 shares of the real estate investment trust’s stock valued at $4,793,000 after buying an additional 60,037 shares during the period. Boston Private Wealth LLC acquired a new stake in shares of CYS Investments during the first quarter valued at about $318,000. Norges Bank acquired a new stake in shares of CYS Investments during the fourth quarter valued at about $13,263,000. Finally, Guggenheim Capital LLC increased its stake in shares of CYS Investments by 20.1% in the fourth quarter. Guggenheim Capital LLC now owns 389,656 shares of the real estate investment trust’s stock valued at $3,012,000 after buying an additional 65,251 shares during the period. 63.68% of the stock is currently owned by hedge funds and other institutional investors.
CYS Investments Company Profile
CYS Investments, Inc is a specialty finance company. The Company’s objective is to provide consistent returns to its investors through a combination of dividends and capital appreciation. It invests in agency residential mortgage-backed security (RMBS) collateralized by fixed rate single-family residential mortgage loans; adjustable-rate mortgages (ARMs), which have coupon rates that reset monthly, or hybrid ARMs, which have a coupon rate that is fixed for an initial period.