New York REIT Inc. (NYSE:NYRT) Director William M. Kahane sold 258,134 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $9.09, for a total value of $2,346,438.06. Following the transaction, the director now owns 117,818 shares in the company, valued at approximately $1,070,965.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of New York REIT Inc. (NYSE:NYRT) traded up 0.20% during midday trading on Wednesday, reaching $9.04. The company’s stock had a trading volume of 2,080,591 shares. The company’s market cap is $1.49 billion. New York REIT Inc. has a 12-month low of $8.79 and a 12-month high of $11.90. The stock’s 50-day moving average price is $9.44 and its 200-day moving average price is $9.62.
New York REIT (NYSE:NYRT) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.08 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 business earned $399 million during the quarter, compared to analyst estimates of $41.08 million. The firm’s revenue was up 815.1% on a year-over-year basis. On average, analysts expect that New York REIT Inc. will post $0.38 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, October 7th will be paid a $0.0383 dividend. This represents a $0.46 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Wednesday, October 5th. New York REIT’s dividend payout ratio (DPR) is presently -219.05%.
A number of equities research analysts recently weighed in on NYRT shares. Zacks Investment Research downgraded New York REIT from a “hold” rating to a “sell” rating in a research report on Thursday, June 16th. JMP Securities reaffirmed a “buy” rating on shares of New York REIT in a research report on Tuesday, June 28th. Compass Point started coverage on New York REIT in a research report on Thursday, June 30th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, TheStreet downgraded New York REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.10.
Large investors have recently bought and sold shares of the stock. Aperio Group LLC increased its stake in New York REIT by 11.3% in the first quarter. Aperio Group LLC now owns 30,567 shares of the company’s stock valued at $309,000 after buying an additional 3,101 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake 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 in the last quarter. Teachers Advisors Inc. increased its stake in New York REIT by 5.4% in the first quarter. Teachers Advisors Inc. now owns 222,687 shares of the company’s stock valued at $2,249,000 after buying an additional 11,434 shares in the last quarter. BlackRock Inc. increased its stake in New York REIT by 9.7% in the first quarter. BlackRock Inc. now owns 158,086 shares of the company’s stock valued at $1,597,000 after buying an additional 13,975 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in New York REIT by 2.6% in the first quarter. BlackRock Group LTD now owns 1,088,743 shares of the company’s stock valued at $10,997,000 after buying an additional 27,162 shares in the last quarter. Hedge funds and other institutional investors 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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