CYS Investments Inc. (NYSE:CYS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “CYS Investments, Inc. is a specialty finance company that invests on a leveraged basis in residential mortgage pass-through securities for which the principal and interest payments are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. CYS Investments, Inc. has elected to be taxed as a real estate investment trust for federal income tax purposes. CYS Investments, Inc., formally known as Cypress Sharpridge Investments, Inc., is headquartered in Waltham, Massachusetts. “
Several other analysts also recently issued reports on CYS. Nomura raised their price target on CYS Investments from $8.50 to $9.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. TheStreet raised CYS Investments from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Credit Suisse Group AG reissued a “sell” rating and issued a $9.00 price target on shares of CYS Investments in a report on Friday, September 9th. Keefe, Bruyette & Woods raised their price target on CYS Investments from $8.65 to $9.25 and gave the stock an “outperform” rating in a report on Friday, July 29th. Finally, Compass Point raised their price target on CYS Investments from $8.50 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.72.
CYS Investments (NYSE:CYS) traded down 0.48% during mid-day trading on Friday, reaching $8.36. The company’s stock had a trading volume of 897,636 shares. The firm’s 50 day moving average price is $8.70 and its 200 day moving average price is $8.49. CYS Investments has a 52 week low of $5.89 and a 52 week high of $9.21. The firm has a market capitalization of $1.27 billion, a P/E ratio of 9.53 and a beta of 0.60.
CYS Investments (NYSE:CYS) last released its earnings results on Thursday, July 28th. The real estate investment trust reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. CYS Investments had a return on equity of 11.38% and a net margin of 56.96%. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, analysts anticipate that CYS Investments will post $1.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 12th. Stockholders of record on Thursday, September 22nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 11.96%. The ex-dividend date of this dividend was Tuesday, September 20th. CYS Investments’s dividend payout ratio (DPR) is presently 112.36%.
Several institutional investors have recently modified their holdings of CYS. State of New Jersey Common Pension Fund D boosted its position in shares of CYS Investments by 8.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 134,000 shares of the real estate investment trust’s stock valued at $1,122,000 after buying an additional 10,000 shares during the period. Quantbot Technologies LP boosted its position in shares of CYS Investments by 173.3% in the second quarter. Quantbot Technologies LP now owns 17,396 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 11,031 shares during the period. Tocqueville Asset Management L.P. purchased a new position in shares of CYS Investments during the second quarter valued at about $172,000. Chicago Equity Partners LLC boosted its position in shares of CYS Investments by 154.8% in the second quarter. Chicago Equity Partners LLC now owns 178,360 shares of the real estate investment trust’s stock valued at $1,493,000 after buying an additional 108,360 shares during the period. Finally, Quantitative Systematic Strategies LLC boosted its position in shares of CYS Investments by 8.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 22,651 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 1,760 shares during the period. Institutional investors own 61.67% of the company’s stock.
CYS Investments Company Profile
CYS Investments, Inc is a specialty finance company. The Company invests in agency residential mortgage-backed security (Agency RMBS) collateralized by fixed rate single-family residential mortgage loans; adjustable-rate mortgages (ARMs), which have coupon rates that reset monthly, or hybrid ARMs, which have a coupon rate that is fixed for an initial period (approximately three, five, seven or 10 years).
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