New York REIT Inc. (NYRT) Director William M. Kahane Sells 114,932 Shares of Stock
New York REIT Inc. (NYSE:NYRT) Director William M. Kahane sold 114,932 shares of the stock in a transaction on Friday, September 30th. The stock was sold at an average price of $9.17, for a total transaction of $1,053,926.44. Following the sale, the director now owns 447,933 shares of the company’s stock, valued at approximately $4,107,545.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
New York REIT Inc. (NYSE:NYRT) opened at 9.0216 on Wednesday. The stock has a 50 day moving average of $9.46 and a 200-day moving average of $9.62. New York REIT Inc. has a one year low of $8.79 and a one year high of $11.90. The stock’s market cap is $1.49 billion.
New York REIT (NYSE:NYRT) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by $0.02. The company earned $399 million during the quarter, compared to the consensus estimate of $41.08 million. New York REIT had a negative return on equity of 3.03% and a negative net margin of 19.56%. The business’s revenue was up 815.1% compared to the same quarter last year. Analysts anticipate that New York REIT Inc. will post $0.38 EPS for the current year.
The business also recently declared a monthly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, October 7th will be paid a $0.0383 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.08%. New York REIT’s dividend payout ratio (DPR) is presently -219.05%.
A number of brokerages recently weighed in on NYRT. JMP Securities reiterated a “buy” rating on shares of New York REIT in a research note on Tuesday, June 28th. Zacks Investment Research upgraded shares of New York REIT from a “sell” rating to a “hold” rating in a research note on Thursday, June 23rd. TheStreet cut shares of New York REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Finally, Compass Point began coverage on shares of New York REIT in a research note on Thursday, June 30th. They issued a “buy” rating and a $12.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $12.10.
Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of New York REIT by 93,143.0% in the first quarter. JPMorgan Chase & Co. now owns 2,489,587 shares of the company’s stock worth $25,145,000 after buying an additional 2,486,917 shares during the period. FMR LLC raised its stake in shares of New York REIT by 10.4% in the second quarter. FMR LLC now owns 16,126,614 shares of the company’s stock worth $149,170,000 after buying an additional 1,523,671 shares during the period. Heitman Real Estate Securities LLC raised its stake in shares of New York REIT by 26.9% in the first quarter. Heitman Real Estate Securities LLC now owns 5,232,466 shares of the company’s stock worth $52,848,000 after buying an additional 1,110,448 shares during the period. Vanguard Group Inc. raised its stake in shares of New York REIT by 4.6% in the second quarter. Vanguard Group Inc. now owns 25,150,637 shares of the company’s stock worth $232,643,000 after buying an additional 1,099,569 shares during the period. Finally, PBWM Holdings LLC bought a new stake in shares of New York REIT during the second quarter worth about $8,756,000. Institutional investors and hedge funds own 70.73% of the company’s stock.
About New York REIT
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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