New York REIT Inc. (NYSE:NYRT) Director William M. Kahane sold 93,818 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $9.09, for a total transaction of $852,805.62. Following the completion of the transaction, the director now directly owns 117,818 shares in the company, valued at approximately $1,070,965.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
New York REIT Inc. (NYSE:NYRT) opened at 9.07 on Monday. The stock has a 50 day moving average of $9.38 and a 200 day moving average of $9.61. The stock’s market cap is $1.50 billion. New York REIT Inc. has a 12-month low of $8.79 and a 12-month 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.02. New York REIT had a negative net margin of 19.56% and a negative return on equity of 3.03%. The company had revenue of $399 million for the quarter, compared to analyst estimates of $41.08 million. The business’s quarterly revenue was up 815.1% compared to the same quarter last year. On average, equities research analysts anticipate that New York REIT Inc. will post $0.38 earnings per share for the current fiscal year.
The firm also recently declared 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 annualized dividend and a yield of 5.07%. New York REIT’s dividend payout ratio (DPR) is presently -219.05%.
A number of institutional investors have recently modified their holdings of the company. Wealthsource Partners LLC acquired a new position in shares of New York REIT during the first quarter valued at $108,000. Tower Research Capital LLC TRC acquired a new position in shares of New York REIT during the second quarter valued at $112,000. Quantbot Technologies LP increased its position in shares of New York REIT by 194.4% in the second quarter. Quantbot Technologies LP now owns 12,872 shares of the company’s stock valued at $119,000 after buying an additional 8,500 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of New York REIT by 105.5% in the third quarter. BNP Paribas Arbitrage SA now owns 15,410 shares of the company’s stock valued at $141,000 after buying an additional 7,910 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of New York REIT by 578.3% in the second quarter. Nisa Investment Advisors LLC now owns 15,600 shares of the company’s stock valued at $144,000 after buying an additional 13,300 shares during the period. Institutional investors own 70.73% of the company’s stock.
A number of research firms recently issued reports on NYRT. Compass Point began coverage on shares of New York REIT in a report on Thursday, June 30th. They issued a “buy” rating and a $12.00 price objective on the stock. Zacks Investment Research downgraded shares of New York REIT from a “hold” rating to a “sell” rating in a report on Thursday, June 16th. TheStreet downgraded shares of New York REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Finally, JMP Securities reaffirmed a “buy” rating on shares of New York REIT in a report on Tuesday, June 28th. One 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 has an average rating of “Hold” and an average target price of $12.10.
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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