CYS Investments Inc. (CYS) Downgraded to “Sell” at Zacks Investment Research
CYS Investments Inc. (NYSE:CYS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
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. “
A number of other research analysts also recently weighed in on CYS. Nomura upped their target price on CYS Investments from $8.50 to $9.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. Keefe, Bruyette & Woods upped their target price on CYS Investments from $8.65 to $9.25 and gave the stock an “outperform” rating in a report on Friday, July 29th. TheStreet upgraded CYS Investments from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Compass Point upped their target price on CYS Investments from $8.50 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Finally, Credit Suisse Group AG reiterated a “sell” rating and set a $9.00 target price on shares of CYS Investments in a report on Friday, September 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $8.72.
CYS Investments (NYSE:CYS) traded down 1.38% during mid-day trading on Monday, hitting $8.60. The stock had a trading volume of 1,048,460 shares. CYS Investments has a 12 month low of $5.89 and a 12 month high of $9.21. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 9.81 and a beta of 0.60. The firm’s 50-day moving average is $8.85 and its 200 day moving average is $8.47.
CYS Investments (NYSE:CYS) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, meeting 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. Equities analysts anticipate that CYS Investments will post $1.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Thursday, September 22nd will be given a $0.25 dividend. The ex-dividend date is Tuesday, September 20th. This represents a $1.00 annualized dividend and a yield of 11.63%. CYS Investments’s dividend payout ratio (DPR) is presently 112.36%.
A number of institutional investors have recently added to or reduced their stakes in CYS. TIAA CREF Investment Management LLC boosted its position in CYS Investments by 0.9% in the first quarter. TIAA CREF Investment Management LLC now owns 506,779 shares of the real estate investment trust’s stock valued at $4,125,000 after buying an additional 4,635 shares during the period. Goldman Sachs Group Inc. boosted its position in CYS Investments by 181.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,618,027 shares of the real estate investment trust’s stock valued at $13,170,000 after buying an additional 1,043,522 shares during the period. Norges Bank acquired a new position in CYS Investments during the fourth quarter valued at about $10,903,000. Creative Planning boosted its position in CYS Investments by 199.8% in the second quarter. Creative Planning now owns 16,966 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 11,307 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in CYS Investments by 11.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 69,385 shares of the real estate investment trust’s stock valued at $581,000 after buying an additional 7,234 shares during the period. 61.67% of the stock is currently owned by institutional investors and hedge funds.
About CYS Investments
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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