MFA Financial (NYSE:MFA) Given New $8.00 Price Target at Citizens Jmp

MFA Financial (NYSE:MFA) had its price objective reduced by Citizens Jmp from $11.00 to $8.00 in a report released on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price objective would suggest a potential upside of 22.23% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Citigroup reiterated a “market outperform” rating on shares of MFA Financial in a research report on Thursday. BTIG Research reiterated a “buy” rating and set a $9.50 price target (down from $10.50) on shares of MFA Financial in a research note on Tuesday, October 6th. Royal Bank Of Canada reissued a “sector perform” rating and set a $10.00 price objective on shares of MFA Financial in a research report on Thursday, August 20th. Weiss Ratings downgraded shares of MFA Financial from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 9th. Finally, William Blair set a $11.00 price objective on shares of MFA Financial in a research note on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.79.

MFA Financial Trading Down 2.3%

MFA stock opened at $6.54 on Thursday. The company has a market capitalization of $661.62 million, a P/E ratio of 6.54 and a beta of 1.45. The business has a 50 day simple moving average of $8.40 and a 200-day simple moving average of $9.16. MFA Financial has a twelve month low of $6.52 and a twelve month high of $10.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MFA. Renaissance Technologies LLC increased its holdings in shares of MFA Financial by 245.2% in the first quarter. Renaissance Technologies LLC now owns 777,025 shares of the real estate investment trust’s stock valued at $7,444,000 after purchasing an additional 551,927 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of MFA Financial during the second quarter worth approximately $3,589,000. BlackRock Inc. raised its stake in shares of MFA Financial by 3.0% during the second quarter. BlackRock Inc. now owns 9,459,988 shares of the real estate investment trust’s stock worth $91,667,000 after purchasing an additional 271,707 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of MFA Financial during the second quarter worth approximately $1,676,000. Finally, Corient Private Wealth LP acquired a new stake in shares of MFA Financial during the second quarter worth $1,539,000. 65.28% of the stock is currently owned by hedge funds and other institutional investors.

About MFA Financial

MFA Financial, Inc is a real estate investment trust that invests primarily in residential mortgage assets. The company focuses on generating income from a portfolio of residential mortgage loans, mortgage-backed securities and other mortgage-related investments.

Its investments may include agency and non-agency mortgage-backed securities, residential whole loans, credit-risk transfer securities and mortgage servicing rights. MFA also acquires and manages residential mortgage assets through subsidiaries and strategic investment relationships, with activities centered on the U.S.