Shares of New York REIT Inc (NYSE:NYRT) gapped down prior to trading on Tuesday . The stock had previously closed at $2.01, but opened at $2.06. New York REIT shares last traded at $2.05, with a volume of 3533458 shares.

A number of analysts have recently weighed in on NYRT shares. ValuEngine upgraded shares of New York REIT from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. SunTrust Banks set a $7.00 price objective on shares of New York REIT and gave the stock a “hold” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $8.38.

The stock has a market capitalization of $683.47, a price-to-earnings ratio of -4.10 and a beta of 0.68. The company has a debt-to-equity ratio of 1.45, a current ratio of 5.24 and a quick ratio of 5.24.

The company also recently declared a special dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 19th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, January 29th.

A number of hedge funds and other institutional investors have recently made changes to their positions in NYRT. Stilwell Value LLC purchased a new position in New York REIT during the fourth quarter valued at $1,572,000. SG Americas Securities LLC purchased a new position in New York REIT during the fourth quarter valued at $100,000. 683 Capital Management LLC lifted its holdings in New York REIT by 166.7% during the third quarter. 683 Capital Management LLC now owns 2,000,000 shares of the real estate investment trust’s stock valued at $15,700,000 after purchasing an additional 1,250,000 shares in the last quarter. Institutional & Family Asset Management LLC purchased a new position in New York REIT during the third quarter valued at $146,000. Finally, Belpointe Asset Management LLC purchased a new position in New York REIT during the third quarter valued at $297,000. 69.70% of the stock is currently owned by hedge funds and other institutional investors.

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About New York REIT

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.

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