New York REIT Inc. (NYSE:NYRT) Director William M. Kahane sold 114,932 shares of the business’s stock in a transaction on Friday, September 30th. The stock was 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 directly owns 447,933 shares in the company, valued at approximately $4,107,545.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
New York REIT Inc. (NYSE:NYRT) opened at 9.04 on Thursday. The company has a 50 day moving average price of $9.44 and a 200-day moving average price of $9.62. The firm’s market capitalization is $1.49 billion. New York REIT Inc. has a one year low of $8.79 and a one year high of $11.90.
New York REIT (NYSE:NYRT) last posted its quarterly earnings results 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%. New York REIT’s quarterly revenue was up 815.1% on a year-over-year basis. On average, equities analysts predict 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 paid a $0.0383 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend is Wednesday, October 5th. New York REIT’s dividend payout ratio (DPR) is currently -219.05%.
A number of analysts have recently commented on the company. TheStreet downgraded New York REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Zacks Investment Research raised New York REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Compass Point assumed coverage on New York REIT in a research note on Thursday, June 30th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, JMP Securities reissued a “buy” rating on shares of New York REIT in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $12.10.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealthsource Partners LLC bought a new position in New York REIT during the first quarter worth $108,000. Tower Research Capital LLC TRC bought a new position in New York REIT during the second quarter worth $112,000. Quantbot Technologies LP increased its position 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 increased its position 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 increased its position 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. 70.73% of the stock is currently owned by institutional investors.
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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