MFA Financial (NYSE:MFA) Reaches New 12-Month Low – Here’s Why

MFA Financial, Inc. (NYSE:MFA)’s share price reached a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $7.95 and last traded at $7.9550, with a volume of 752569 shares trading hands. The stock had previously closed at $8.01.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MFA. William Blair set a $11.00 target price on MFA Financial in a report on Tuesday, August 4th. Citigroup reiterated a “market outperform” rating on shares of MFA Financial in a research report on Tuesday, August 4th. BTIG Research raised MFA Financial from a “neutral” rating to a “buy” rating and set a $10.50 price objective on the stock in a research note on Wednesday, June 17th. Weiss Ratings lowered MFA Financial from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 11th. Finally, Citizens Jmp lowered their target price on MFA Financial from $11.50 to $11.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MFA Financial currently has a consensus rating of “Hold” and a consensus target price of $10.46.

MFA Financial Stock Down 1.1%

The firm has a market capitalization of $801.14 million, a price-to-earnings ratio of 7.93 and a beta of 1.41. The firm’s 50 day moving average is $8.86 and its 200 day moving average is $9.38.

MFA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.44 annualized dividend and a dividend yield of 18.2%. MFA Financial’s dividend payout ratio (DPR) is currently 144.00%.

Institutional Investors Weigh In On MFA Financial

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of MFA Financial by 245.2% during the 1st quarter. Renaissance Technologies LLC now owns 777,025 shares of the real estate investment trust’s stock valued at $7,444,000 after buying 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 $3,589,000. BlackRock Inc. raised its holdings 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 acquiring an additional 271,707 shares in the last quarter. Ieq Capital LLC acquired a new stake in MFA Financial during the second quarter valued at $1,676,000. Finally, Corient Private Wealth LP acquired a new stake in MFA Financial during the second quarter valued at $1,539,000. 65.28% of the stock is owned by hedge funds and other institutional investors.

MFA Financial Company Profile

MFA Financial, Inc is a real estate investment trust (REIT) that focuses primarily on residential mortgage assets. The company invests in and manages a portfolio that may include agency and non-agency mortgage-backed securities, residential whole loans, mortgage servicing rights and other residential credit investments.

MFA’s investment activities are designed to provide exposure to the U.S. residential housing and mortgage markets. Through its affiliated businesses, the company also participates in residential lending, including financing for single-family rental properties and residential real estate investors.

Founded in 1997 and headquartered in New York City, MFA Financial has operated as a publicly traded mortgage REIT since its initial public offering in 1998.