New York REIT Inc. (NYSE:NYRT) Director William M. Kahane sold 258,134 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $9.09, for a total transaction of $2,346,438.06. Following the completion of the sale, the director now owns 117,818 shares in the company, valued at approximately $1,070,965.62. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of New York REIT Inc. (NYSE:NYRT) opened at 9.08 on Friday. The company’s market cap is $1.50 billion. New York REIT Inc. has a 12 month low of $8.79 and a 12 month high of $11.90. The company’s 50 day moving average is $9.41 and its 200-day moving average is $9.61.

New York REIT (NYSE:NYRT) last posted its 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. New York REIT had a negative net margin of 19.56% and a negative return on equity of 3.03%. The firm earned $399 million during the quarter, compared to analyst estimates of $41.08 million. The company’s revenue was up 815.1% on a year-over-year basis. Analysts expect that New York REIT Inc. will post $0.38 EPS for the current fiscal year.

The company also recently announced 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 yield of 5.07%. New York REIT’s payout ratio is presently -219.05%.

A number of hedge funds and other institutional investors have recently bought and sold shares of NYRT. Aperio Group LLC raised its position in New York REIT by 11.3% in the first quarter. Aperio Group LLC now owns 30,567 shares of the company’s stock worth $309,000 after buying an additional 3,101 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in New York REIT by 18.5% in the first quarter. TIAA CREF Investment Management LLC now owns 492,696 shares of the company’s stock worth $4,976,000 after buying an additional 76,853 shares during the last quarter. Teachers Advisors Inc. raised its position in New York REIT by 5.4% in the first quarter. Teachers Advisors Inc. now owns 222,687 shares of the company’s stock worth $2,249,000 after buying an additional 11,434 shares during the last quarter. BlackRock Inc. raised its position in New York REIT by 9.7% in the first quarter. BlackRock Inc. now owns 158,086 shares of the company’s stock worth $1,597,000 after buying an additional 13,975 shares during the last quarter. Finally, BlackRock Group LTD raised its position in New York REIT by 2.6% in the first quarter. BlackRock Group LTD now owns 1,088,743 shares of the company’s stock worth $10,997,000 after buying an additional 27,162 shares during the last quarter. Institutional investors and hedge funds own 70.73% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. TheStreet lowered shares of New York REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Zacks Investment Research upgraded shares of New York REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. JMP Securities restated a “buy” rating on shares of New York REIT in a research note on Tuesday, June 28th. Finally, Compass Point assumed 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 on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. New York REIT has a consensus rating of “Hold” and an average price target of $12.10.

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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