New York REIT (NYRT) Downgraded by Zacks Investment Research to “Sell”
New York REIT (NYSE:NYRT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “New York REIT, Inc. is a real estate investment trust. It focuses on acquiring commercial real estate, as well as acquiring properties or making other real estate investments that relate to office, retail, multi-family residential, industrial, and hotel property types located primarily in New York City. New York REIT, Inc. is based in New York. “
NYRT has been the subject of a number of other reports. SunTrust Banks set a $7.00 price target on shares of New York REIT and gave the company a “hold” rating in a research report on Friday, December 1st. ValuEngine raised shares of New York REIT from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $8.38.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Laurel Wealth Advisors Inc. purchased a new position in New York REIT during the 3rd quarter valued at about $102,000. Institutional & Family Asset Management LLC purchased a new position in New York REIT during the 3rd quarter valued at about $146,000. Virtu KCG Holdings LLC purchased a new position in New York REIT in the second quarter worth about $170,000. First Manhattan Co. raised its holdings in New York REIT by 100.0% in the third quarter. First Manhattan Co. now owns 20,000 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 10,000 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in New York REIT in the third quarter worth about $167,000. 68.97% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION WARNING: “New York REIT (NYRT) Downgraded by Zacks Investment Research to “Sell”” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://www.thecerbatgem.com/2018/02/14/new-york-reit-nyrt-downgraded-by-zacks-investment-research-to-sell.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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for New York REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York REIT and related companies with MarketBeat.com's FREE daily email newsletter.