New York REIT Inc. (NYRT) Director William M. Kahane Sells 93,818 Shares
New York REIT Inc. (NYSE:NYRT) Director William M. Kahane sold 93,818 shares of New York REIT stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $9.09, for a total value of $852,805.62. Following the sale, the director now owns 117,818 shares in the company, valued at $1,070,965.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of New York REIT Inc. (NYSE:NYRT) opened at 9.04 on Thursday. The stock’s market capitalization is $1.49 billion. New York REIT Inc. has a 52-week low of $8.79 and a 52-week high of $11.90. The firm has a 50-day moving average price of $9.44 and a 200-day moving average price of $9.62.
New York REIT (NYSE:NYRT) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.02. New York REIT had a negative net margin of 19.56% and a negative return on equity of 3.03%. The company had revenue of $399 million for the quarter, compared to the consensus estimate of $41.08 million. The firm’s revenue was up 815.1% compared to the same quarter last year. On average, analysts predict 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. Stockholders of record on Friday, October 7th will be paid a dividend of $0.0383 per share. This represents a $0.46 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Wednesday, October 5th. New York REIT’s dividend payout ratio is presently -219.05%.
A number of analysts recently commented on NYRT shares. Compass Point started coverage on New York REIT in a report on Thursday, June 30th. They set a “buy” rating and a $12.00 price target on the stock. JMP Securities reiterated a “buy” rating on shares of New York REIT in a report on Tuesday, June 28th. Zacks Investment Research upgraded New York REIT from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Finally, TheStreet lowered New York REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $12.10.
Several hedge funds have recently bought and sold shares of NYRT. Vanguard Group Inc. increased its stake in New York REIT by 4.6% in the second quarter. Vanguard Group Inc. now owns 25,150,637 shares of the company’s stock valued at $232,643,000 after buying an additional 1,099,569 shares in the last quarter. FMR LLC raised its position 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 valued at $149,170,000 after buying an additional 1,523,671 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of New York REIT by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,307,373 shares of the company’s stock valued at $63,704,000 after buying an additional 56,503 shares during the last quarter. Sorin Capital Management LLC raised its position in shares of New York REIT by 0.9% in the second quarter. Sorin Capital Management LLC now owns 5,387,236 shares of the company’s stock valued at $49,831,000 after buying an additional 50,000 shares during the last quarter. Finally, Heitman Real Estate Securities LLC raised its position 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 valued at $52,848,000 after buying an additional 1,110,448 shares during the last quarter. 70.73% of the stock is owned by hedge funds and other institutional investors.
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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