SunTrust Banks set a $7.00 price objective on New York REIT (NYSE:NYRT) in a research report report published on Friday. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Separately, ValuEngine raised New York REIT from a hold rating to a buy rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $8.38.

New York REIT (NYSE:NYRT) traded down $0.03 during mid-day trading on Friday, reaching $5.01. The company had a trading volume of 1,648,592 shares, compared to its average volume of 3,512,195. New York REIT has a fifty-two week low of $4.95 and a fifty-two week high of $10.15. The firm has a market capitalization of $846.36, a P/E ratio of 15.75 and a beta of 0.68. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.45.

The company also recently announced a dividend, which was paid on Tuesday, November 28th. Investors of record on Monday, November 20th were given a dividend of $2.07 per share. The ex-dividend date of this dividend was Friday, November 17th. This is an increase from New York REIT’s previous dividend of $0.04.

A number of hedge funds have recently added to or reduced their stakes in NYRT. Aperio Group LLC grew its position in New York REIT by 65.5% during the second quarter. Aperio Group LLC now owns 30,952 shares of the real estate investment trust’s stock worth $267,000 after buying an additional 12,247 shares in the last quarter. Russell Investments Group Ltd. grew its position in New York REIT by 20.4% during the second quarter. Russell Investments Group Ltd. now owns 2,053,886 shares of the real estate investment trust’s stock worth $17,741,000 after buying an additional 348,236 shares in the last quarter. Sei Investments Co. lifted its stake in New York REIT by 86.3% during the second quarter. Sei Investments Co. now owns 18,269 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 8,465 shares during the period. Teacher Retirement System of Texas lifted its stake in New York REIT by 28.0% during the second quarter. Teacher Retirement System of Texas now owns 331,037 shares of the real estate investment trust’s stock worth $2,860,000 after purchasing an additional 72,402 shares during the period. Finally, Wedbush Securities Inc. lifted its stake in New York REIT by 149.5% during the second quarter. Wedbush Securities Inc. now owns 56,500 shares of the real estate investment trust’s stock worth $488,000 after purchasing an additional 33,853 shares during the period. 70.52% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “New York REIT (NYRT) Given a $7.00 Price Target at SunTrust Banks” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and international trademark & copyright law. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/12/02/new-york-reit-nyrt-given-a-7-00-price-target-at-suntrust-banks.html.

New York REIT Company Profile

New York REIT, Inc is a real estate investment trust. The Company owns a portfolio of commercial real estate. The Company’s business is primarily conducted through New York Recovery Operating Partnership, L.P. As of December 31, 2016, the Company owned 19 properties, which aggregated 3.3 million rentable square feet.

Receive News & Stock Ratings for New York REIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York REIT Inc. and related stocks with our FREE daily email newsletter.