MFA Financial (NYSE:MFA) Sets New 12-Month Low – Should You Sell?

MFA Financial, Inc. (NYSE:MFA)’s stock price reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $7.95 and last traded at $7.9550, with a volume of 752569 shares traded. The stock had previously closed at $8.01.

Wall Street Analyst Weigh In

MFA has been the subject of a number of recent research reports. Citigroup reaffirmed a “market outperform” rating on shares of MFA Financial in a research report on Tuesday, August 4th. Weiss Ratings downgraded shares of MFA Financial from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 11th. William Blair set a $11.00 price objective on shares of MFA Financial in a research report on Tuesday, August 4th. Citizens Jmp reduced their target price on shares of MFA Financial from $11.50 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, August 4th. Finally, BTIG Research raised shares of MFA Financial from a “neutral” rating to a “buy” rating and set a $10.50 target price for the company in a research report on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MFA Financial presently has an average rating of “Hold” and a consensus price target of $10.46.

MFA Financial Price Performance

The business has a 50-day simple moving average of $8.80 and a two-hundred day simple moving average of $9.35. The stock has a market cap of $781.93 million, a price-to-earnings ratio of 7.73 and a beta of 1.41.

MFA Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 18.6%. The ex-dividend date is Monday, October 5th. MFA Financial’s dividend payout ratio is 144.00%.

Hedge Funds Weigh In On MFA Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in MFA Financial by 245.2% during the first quarter. Renaissance Technologies LLC now owns 777,025 shares of the real estate investment trust’s stock worth $7,444,000 after acquiring an additional 551,927 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MFA Financial in the 2nd quarter worth about $3,589,000. BlackRock Inc. boosted its holdings in MFA Financial by 3.0% in the 2nd quarter. BlackRock Inc. now owns 9,459,988 shares of the real estate investment trust’s stock valued at $91,667,000 after purchasing an additional 271,707 shares during the period. Ieq Capital LLC bought a new stake in MFA Financial in the 2nd quarter valued at about $1,676,000. Finally, Corient Private Wealth LP acquired a new position in shares of MFA Financial during the 2nd quarter worth approximately $1,539,000. 65.28% of the stock is owned by institutional investors.

MFA Financial Company Profile

MFA Financial, Inc is a real estate investment trust (REIT) that focuses primarily on residential mortgage assets. The company invests in and manages a portfolio that may include agency and non-agency mortgage-backed securities, residential whole loans, mortgage servicing rights and other residential credit investments.

MFA’s investment activities are designed to provide exposure to the U.S. residential housing and mortgage markets. Through its affiliated businesses, the company also participates in residential lending, including financing for single-family rental properties and residential real estate investors.

Founded in 1997 and headquartered in New York City, MFA Financial has operated as a publicly traded mortgage REIT since its initial public offering in 1998.