Patrick A. O’malley Sells 8,311 Shares of New York REIT Inc. (NYRT) Stock
New York REIT Inc. (NYSE:NYRT) insider Patrick A. O’malley sold 8,311 shares of the stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $9.25, for a total value of $76,876.75. Following the completion of the sale, the insider now directly owns 36,198 shares in the company, valued at $334,831.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of New York REIT Inc. (NYSE:NYRT) opened at 9.09 on Tuesday. New York REIT Inc. has a 52-week low of $8.79 and a 52-week high of $11.90. The stock’s market capitalization is $1.50 billion. The company’s 50 day moving average price is $9.49 and its 200 day moving average price is $9.63.
New York REIT (NYSE:NYRT) last issued its 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 firm had revenue of $399 million for the quarter, compared to the consensus estimate of $41.08 million. New York REIT had a negative net margin of 19.56% and a negative return on equity of 3.03%. The firm’s revenue was up 815.1% on a year-over-year basis. On average, equities research analysts anticipate that New York REIT Inc. will post $0.38 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, October 7th will be given a dividend of $0.0383 per share. This represents a $0.46 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Wednesday, October 5th. New York REIT’s dividend payout ratio (DPR) is presently -219.05%.
NYRT has been the topic of a number of recent research reports. Zacks Investment Research raised New York REIT from a “sell” rating to a “hold” rating in a research note on Thursday, June 23rd. Compass Point initiated coverage on New York REIT in a research note on Thursday, June 30th. They issued a “buy” rating and a $12.00 target price on the stock. JMP Securities reissued a “buy” rating on shares of New York REIT in a research note on Tuesday, June 28th. Finally, TheStreet cut New York REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.10.
A number of large investors have recently modified their holdings of NYRT. Wealthsource Partners LLC purchased a new stake in shares of New York REIT during the first quarter worth $108,000. Tower Research Capital LLC TRC purchased a new stake in shares of New York REIT during the second quarter worth $112,000. Quantbot Technologies LP raised 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 valued at $119,000 after buying an additional 8,500 shares during the last quarter. Nisa Investment Advisors LLC raised 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 valued at $144,000 after buying an additional 13,300 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in New York REIT during the second quarter valued at approximately $154,000. 70.73% of the stock is owned by institutional investors and hedge funds.
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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