New York REIT Inc. (NYSE:NYRT) Director William M. Kahane sold 93,818 shares of the company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $9.09, for a total transaction of $852,805.62. Following the transaction, the director now owns 117,818 shares in the company, valued at $1,070,965.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of New York REIT Inc. (NYSE:NYRT) traded up 0.20% during trading on Wednesday, reaching $9.04. 2,080,591 shares of the company’s stock were exchanged. The company has a 50 day moving average of $9.44 and a 200 day moving average of $9.62. The stock’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.
New York REIT (NYSE:NYRT) last posted its quarterly earnings data 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 return on equity of 3.03% and a negative net margin of 19.56%. The firm had revenue of $399 million for the quarter, compared to analysts’ expectations of $41.08 million. The company’s quarterly revenue was up 815.1% on a year-over-year basis. Equities research analysts anticipate that New York REIT Inc. will post $0.38 EPS for the current year.
The business also recently declared a monthly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, October 7th will be given a $0.0383 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.09%. New York REIT’s dividend payout ratio (DPR) is presently -219.05%.
Several brokerages recently commented on NYRT. Compass Point began coverage on shares of New York REIT in a report on Thursday, June 30th. They set a “buy” rating and a $12.00 price target 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 reiterated a “buy” rating on shares of New York REIT in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.10.
Several large investors have recently bought and sold shares of NYRT. Wealthsource Partners LLC bought a new stake in New York REIT during the first quarter worth about $108,000. Tower Research Capital LLC TRC bought a new stake in New York REIT during the second quarter worth about $112,000. Quantbot Technologies LP raised 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 period. BNP Paribas Arbitrage SA raised its stake in New York REIT by 105.5% in the third quarter. BNP Paribas Arbitrage SA now owns 15,410 shares of the company’s stock worth $141,000 after buying an additional 7,910 shares during the period. Finally, Nisa Investment Advisors LLC raised 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 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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