Legal & General Group Plc Lowers Position in CYS Investments, Inc. (CYS)
Legal & General Group Plc reduced its stake in shares of CYS Investments, Inc. (NYSE:CYS) by 4.4% during the first quarter, Holdings Channel reports. The firm owned 76,921 shares of the real estate investment trust’s stock after selling 3,554 shares during the period. Legal & General Group Plc’s holdings in CYS Investments were worth $610,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in CYS Investments by 4.7% in the first quarter. JPMorgan Chase & Co. now owns 5,790,647 shares of the real estate investment trust’s stock valued at $46,036,000 after buying an additional 257,658 shares during the period. OppenheimerFunds Inc. increased its stake in CYS Investments by 3.9% in the first quarter. OppenheimerFunds Inc. now owns 3,526,439 shares of the real estate investment trust’s stock valued at $28,035,000 after buying an additional 131,900 shares during the period. Norges Bank bought a new stake in CYS Investments during the fourth quarter valued at $13,263,000. Confluence Investment Management LLC increased its stake in CYS Investments by 12.9% in the first quarter. Confluence Investment Management LLC now owns 874,326 shares of the real estate investment trust’s stock valued at $6,950,000 after buying an additional 100,000 shares during the period. Finally, Old Mutual Global Investors UK Ltd. increased its stake in CYS Investments by 36.2% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 815,741 shares of the real estate investment trust’s stock valued at $6,485,000 after buying an additional 216,713 shares during the period. Hedge funds and other institutional investors own 63.27% of the company’s stock.
CYS Investments, Inc. (CYS) opened at 8.5999 on Friday. The firm has a 50 day moving average of $8.54 and a 200 day moving average of $8.18. CYS Investments, Inc. has a 1-year low of $7.42 and a 1-year high of $9.21. The firm’s market cap is $1.31 billion.
CYS Investments (NYSE:CYS) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. CYS Investments had a negative net margin of 5.86% and a positive return on equity of 12.69%. The business had revenue of $50.91 million for the quarter, compared to the consensus estimate of $69.70 million. During the same quarter last year, the firm posted $0.26 EPS. On average, equities research analysts expect that CYS Investments, Inc. will post $1.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Thursday, June 22nd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.61%. The ex-dividend date was Tuesday, June 20th. CYS Investments’s dividend payout ratio is presently -400.00%.
TRADEMARK VIOLATION NOTICE: “Legal & General Group Plc Lowers Position in CYS Investments, Inc. (CYS)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/04/legal-general-group-plc-lowers-position-in-cys-investments-inc-cys.html.
CYS has been the subject of several research reports. Zacks Investment Research upgraded shares of CYS Investments from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a report on Tuesday, April 18th. BidaskClub downgraded shares of CYS Investments from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Keefe, Bruyette & Woods set a $8.00 price target on shares of CYS Investments and gave the stock a “hold” rating in a research note on Saturday, May 27th. Finally, Wells Fargo & Company downgraded shares of CYS Investments from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 11th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $8.35.
In other news, Director David A. Tyson sold 5,950 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $8.50, for a total value of $50,575.00. Following the transaction, the director now owns 22,603 shares of the company’s stock, valued at approximately $192,125.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.04% of the company’s stock.
About CYS Investments
CYS Investments, Inc is a specialty finance company. The Company’s objective is to provide consistent returns to its investors through a combination of dividends and capital appreciation. It invests in agency residential mortgage-backed security (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.
Want to see what other hedge funds are holding CYS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CYS Investments, Inc. (NYSE:CYS).
Receive News & Stock Ratings for CYS Investments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CYS Investments Inc. and related stocks with our FREE daily email newsletter.