New York REIT Inc. (NYSE:NYRT) Director William M. Kahane sold 114,932 shares of the business’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $9.17, for a total value of $1,053,926.44. Following the completion of the sale, the director now owns 447,933 shares in the company, valued at $4,107,545.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of New York REIT Inc. (NYSE:NYRT) opened at 9.09 on Tuesday. The firm’s market cap is $1.50 billion. The company has a 50 day moving average price of $9.49 and a 200-day moving average price of $9.63. New York REIT Inc. has a 52-week low of $8.79 and a 52-week high of $11.90.
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 Zacks’ consensus estimate of $0.10 by $0.02. The company earned $399 million during the quarter, compared to analyst estimates of $41.08 million. New York REIT had a negative net margin of 19.56% and a negative return on equity of 3.03%. The business’s revenue for the quarter was up 815.1% compared to the same quarter last year. On average, analysts expect that New York REIT Inc. will post $0.38 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, October 7th will be issued a $0.0383 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.46 dividend on an annualized basis and a yield of 5.06%. New York REIT’s payout ratio is -219.05%.
A number of analysts have recently commented on NYRT shares. Compass Point started coverage on New York REIT in a report on Thursday, June 30th. They issued a “buy” rating and a $12.00 price target on the stock. JMP Securities restated a “buy” rating on shares of New York REIT in a report on Tuesday, June 28th. Zacks Investment Research upgraded New York REIT from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Finally, TheStreet lowered New York REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. New York REIT presently has an average rating of “Hold” and an average price target of $12.10.
A number of hedge funds have recently bought and sold shares of the stock. Wealthsource Partners LLC bought a new stake in New York REIT during the first quarter worth $108,000. Tower Research Capital LLC TRC bought a new stake in New York REIT during the second quarter worth $112,000. Quantbot Technologies LP increased 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 worth $119,000 after buying an additional 8,500 shares during the last quarter. Nisa Investment Advisors LLC increased 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 worth $144,000 after buying an additional 13,300 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in New York REIT during the second quarter worth $154,000. Institutional investors and hedge funds own 70.73% of the company’s stock.
New York REIT Company Profile
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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