New York REIT Inc. (NYSE:NYRT) insider Patrick A. O’malley sold 8,311 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $9.25, for a total value of $76,876.75. Following the sale, the insider now directly owns 36,198 shares in the company, valued at approximately $334,831.50. The sale was disclosed in a legal filing with the SEC, which is available through this link.
New York REIT Inc. (NYSE:NYRT) opened at 9.0216 on Wednesday. The firm has a 50-day moving average price of $9.46 and a 200 day moving average price of $9.62. New York REIT Inc. has a one year low of $8.79 and a one year high of $11.90. The firm’s market capitalization is $1.49 billion.
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 consensus estimate of $0.10 by $0.02. The company earned $399 million during the quarter, compared to the consensus estimate 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 company’s revenue was up 815.1% compared to the same quarter last year. Equities research analysts anticipate that New York REIT Inc. will post $0.38 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, October 7th will be issued a $0.0383 dividend. This represents a $0.46 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Wednesday, October 5th. New York REIT’s dividend payout ratio (DPR) is presently -219.05%.
Several research analysts recently issued reports on the company. Compass Point assumed coverage on New York REIT in a research report on Thursday, June 30th. They set a “buy” rating and a $12.00 price objective for the company. JMP Securities restated a “buy” rating on shares of New York REIT in a research report on Tuesday, June 28th. Zacks Investment Research upgraded New York REIT from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. Finally, TheStreet downgraded New York REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. New York REIT has an average rating of “Hold” and a consensus price target of $12.10.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Heitman Real Estate Securities LLC boosted its position in New York REIT by 26.9% in the first quarter. Heitman Real Estate Securities LLC now owns 5,232,466 shares of the company’s stock valued at $52,848,000 after buying an additional 1,110,448 shares during the period. State Street Corp boosted its position in New York REIT by 7.0% in the first quarter. State Street Corp now owns 5,055,334 shares of the company’s stock valued at $51,057,000 after buying an additional 332,129 shares during the period. Monarch Partners Asset Management LLC boosted its position in New York REIT by 48.9% in the second quarter. Monarch Partners Asset Management LLC now owns 1,668,286 shares of the company’s stock valued at $15,432,000 after buying an additional 547,890 shares during the period. TIAA CREF Investment Management LLC boosted its position in New York REIT by 18.5% in the first quarter. TIAA CREF Investment Management LLC now owns 492,696 shares of the company’s stock valued at $4,976,000 after buying an additional 76,853 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in New York REIT by 93,143.0% in the first quarter. JPMorgan Chase & Co. now owns 2,489,587 shares of the company’s stock valued at $25,145,000 after buying an additional 2,486,917 shares during the period. Institutional investors and hedge funds own 70.73% of the company’s stock.
About New York REIT
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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