Zacks Investment Research Lowers CYS Investments Inc. (CYS) to Sell
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 Friday.
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. “
Several other equities analysts have also recently issued reports on CYS. Keefe, Bruyette & Woods lifted their price objective on CYS Investments from $8.65 to $9.25 and gave the company an “outperform” rating in a research note on Friday, July 29th. Compass Point lifted their price objective on CYS Investments from $8.50 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. TheStreet upgraded CYS Investments from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. Credit Suisse Group AG restated a “sell” rating and set a $9.00 target price on shares of CYS Investments in a research note on Friday, September 9th. Finally, Nomura boosted their target price on CYS Investments from $8.50 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.72.
CYS Investments (NYSE:CYS) traded down 0.48% during trading on Friday, hitting $8.36. 897,636 shares of the company were exchanged. CYS Investments has a 1-year low of $5.89 and a 1-year high of $9.21. The stock has a market capitalization of $1.27 billion, a PE ratio of 9.53 and a beta of 0.60. The firm’s 50 day moving average price is $8.70 and its 200-day moving average price is $8.49.
CYS Investments (NYSE:CYS) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. CYS Investments had a return on equity of 11.38% and a net margin of 56.96%. During the same period in the previous year, the firm posted $0.27 earnings per share. Equities analysts predict that CYS Investments will post $1.87 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 12th. Shareholders of record on Thursday, September 22nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.96%. The ex-dividend date of this dividend was Tuesday, September 20th. CYS Investments’s dividend payout ratio (DPR) is 112.36%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D raised its position in CYS Investments by 8.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 134,000 shares of the real estate investment trust’s stock worth $1,122,000 after buying an additional 10,000 shares during the last quarter. Quantbot Technologies LP raised its position in CYS Investments by 173.3% in the second quarter. Quantbot Technologies LP now owns 17,396 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 11,031 shares during the last quarter. Tocqueville Asset Management L.P. bought a new position in CYS Investments during the second quarter worth about $172,000. Chicago Equity Partners LLC raised its position in CYS Investments by 154.8% in the second quarter. Chicago Equity Partners LLC now owns 178,360 shares of the real estate investment trust’s stock worth $1,493,000 after buying an additional 108,360 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC raised its position in CYS Investments by 8.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 22,651 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 1,760 shares during the last quarter. 61.67% of the stock is currently owned by institutional investors.
CYS Investments Company Profile
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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