MFA Financial Inc. (NYSE:MFA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $8.50 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 11.84% from the company’s current price.
According to Zacks, “MFA Mortgage Investments, Inc. operates as a real estate investment trust primarily engaged in the business of investing in mortgage-backed securities. The company also has indirect investment in Lealand Place, a multifamily apartment property located in Lawrenceville, Georgia. In addition, it provides investment advisory services to a third-party institution with respect to their MBS portfolio investments. “
Other equities research analysts also recently issued reports about the stock. Compass Point downgraded shares of MFA Financial from a “neutral” rating to a “sell” rating and set a $7.00 price objective for the company. in a research report on Wednesday, June 15th. Deutsche Bank AG set a $7.50 price objective on shares of MFA Financial and gave the stock a “hold” rating in a research report on Tuesday, August 9th. FBR & Co downgraded shares of MFA Financial from an “outperform” rating to a “market perform” rating and set a $7.50 price objective for the company. in a research report on Tuesday, September 6th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $7.50 price objective on shares of MFA Financial in a research report on Sunday, September 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.60.
Shares of MFA Financial (NYSE:MFA) opened at 7.60 on Tuesday. The firm has a market capitalization of $2.82 billion, a P/E ratio of 9.64 and a beta of 0.53. The firm’s 50-day moving average is $7.69 and its 200 day moving average is $7.23. MFA Financial has a 12 month low of $5.61 and a 12 month high of $7.86.
MFA Financial (NYSE:MFA ) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. MFA Financial had a net margin of 63.80% and a return on equity of 10.48%. The firm had revenue of $66.80 million for the quarter, compared to analyst estimates of $74.09 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The business’s quarterly revenue was down 17.6% compared to the same quarter last year. On average, equities research analysts anticipate that MFA Financial will post $0.77 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Wednesday, September 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 10.53%. The ex-dividend date is Monday, September 26th. MFA Financial’s dividend payout ratio is currently 101.27%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in MFA Financial during the fourth quarter valued at approximately $22,010,000. Aperio Group LLC increased its position in MFA Financial by 23.9% in the first quarter. Aperio Group LLC now owns 5,369,709 shares of the company’s stock valued at $36,783,000 after buying an additional 1,036,897 shares during the period. Virginia Retirement System acquired a new position in MFA Financial during the first quarter valued at approximately $963,000. Pacad Investment Ltd. increased its position in MFA Financial by 250.0% in the first quarter. Pacad Investment Ltd. now owns 56,700 shares of the company’s stock valued at $388,000 after buying an additional 40,500 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in MFA Financial by 0.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,033,054 shares of the company’s stock valued at $13,926,000 after buying an additional 6,675 shares during the period. 84.68% of the stock is owned by institutional investors.
About MFA Financial
MFA Financial, Inc is a real estate investment trust (REIT). The Company operates as a holding company and conducts its real estate finance businesses through its subsidiaries. The Company’s segment is investing in residential mortgage assets. It invests in residential mortgage assets, including Agency mortgage backed securities (MBS), Non-Agency MBS, residential whole loans and CRT securities.
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