SunTrust Banks Analysts Give New York REIT (NYRT) a $7.00 Price Target

New York REIT (NYSE:NYRT) has been assigned a $7.00 price objective by research analysts at SunTrust Banks in a report released on Friday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. SunTrust Banks’ target price would suggest a potential upside of 39.72% from the company’s previous close.

Separately, ValuEngine raised shares of New York REIT from a “hold” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $8.38.

New York REIT (NYRT) opened at $5.01 on Friday. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.45. The firm has a market cap of $846.36, a PE ratio of 15.75 and a beta of 0.68. New York REIT has a 1 year low of $4.95 and a 1 year high of $10.15.

A number of institutional investors and hedge funds have recently modified their holdings of NYRT. Long Pond Capital LP purchased a new stake in New York REIT in the 3rd quarter valued at about $88,123,000. Alyeska Investment Group L.P. raised its holdings in New York REIT by 74.1% in the 3rd quarter. Alyeska Investment Group L.P. now owns 5,759,906 shares of the real estate investment trust’s stock valued at $45,215,000 after buying an additional 2,452,182 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in New York REIT in the 2nd quarter valued at about $9,746,000. Tahithromos L.L.C. purchased a new stake in New York REIT in the 2nd quarter valued at about $7,347,000. Finally, Point72 Europe London LLP purchased a new stake in New York REIT in the 2nd quarter valued at about $6,134,000. Hedge funds and other institutional investors own 70.52% of the company’s stock.

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New York REIT Company Profile

New York REIT, Inc is a real estate investment trust. The Company owns a portfolio of commercial real estate. The Company’s business is primarily conducted through New York Recovery Operating Partnership, L.P. As of December 31, 2016, the Company owned 19 properties, which aggregated 3.3 million rentable square feet.

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