CYS Investments, Inc. (CYS) Given Average Recommendation of “Hold” by Brokerages
CYS Investments, Inc. (NYSE:CYS) has received an average rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $8.30.
A number of brokerages have commented on CYS. BidaskClub cut CYS Investments from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Zacks Investment Research upgraded CYS Investments from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Wells Fargo & Company cut CYS Investments from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 11th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods set a $8.00 target price on CYS Investments and gave the company a “hold” rating in a report on Saturday, May 27th.
In other CYS Investments news, CEO Kevin E. Grant sold 175,389 shares of the stock in a transaction on 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 owns 610,640 shares of the company’s stock, valued at approximately $5,172,120.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.04% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CYS. Formidable Asset Management LLC acquired a new position in shares of CYS Investments during the first quarter valued at approximately $114,000. Koch Industries Inc. acquired a new position in shares of CYS Investments during the first quarter valued at approximately $121,000. Raymond James Financial Services Advisors Inc. increased its position in shares of CYS Investments by 0.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,681 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 125 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of CYS Investments during the second quarter valued at approximately $151,000. Finally, Mackenzie Financial Corp increased its position in shares of CYS Investments by 48.8% in the first quarter. Mackenzie Financial Corp now owns 18,734 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 6,144 shares during the period. 63.29% of the stock is currently owned by institutional investors.
Shares of CYS Investments (CYS) traded down 0.24% during trading on Monday, reaching $8.37. The company had a trading volume of 582,910 shares. The firm’s 50 day moving average price is $8.56 and its 200 day moving average price is $8.15. The firm’s market capitalization is $1.27 billion. CYS Investments has a 12 month low of $7.42 and a 12 month high of $9.21.
CYS Investments (NYSE:CYS) last announced its earnings results on Wednesday, April 19th. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $73.30 million for the quarter, compared to analysts’ expectations of $74.83 million. CYS Investments had a positive return on equity of 12.13% and a negative net margin of 3.81%. CYS Investments’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. Equities analysts predict that CYS Investments will post $1.00 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Thursday, June 22nd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.95%. The ex-dividend date of this dividend was Tuesday, June 20th. CYS Investments’s dividend payout ratio is presently -476.19%.
About CYS Investments
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.
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