Zacks Investment Research Downgrades MFA Financial Inc. (MFA) to Hold
MFA Financial Inc. (NYSE:MFA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “MFA Mortgage Investments, Inc. operates as a real estate investment trust primarily engaged in the business of investing in mortgage-backed securities. The company also has indirect investment in Lealand Place, a multifamily apartment property located in Lawrenceville, Georgia. In addition, it provides investment advisory services to a third-party institution with respect to their MBS portfolio investments. “
Several other research firms have also issued reports on MFA. FBR & Co lowered MFA Financial from an “outperform” rating to a “market perform” rating and set a $7.50 target price on the stock. in a research note on Tuesday, September 6th. Credit Suisse Group AG reissued a “hold” rating and set a $7.50 target price on shares of MFA Financial in a research note on Sunday, September 11th. Compass Point lowered MFA Financial from a “neutral” rating to a “sell” rating and set a $7.00 target price on the stock. in a research note on Wednesday, June 15th. Finally, Deutsche Bank AG set a $7.50 target price on MFA Financial and gave the stock a “hold” rating in a research note on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $7.60.
Shares of MFA Financial (NYSE:MFA) opened at 7.55 on Friday. The firm has a market cap of $2.80 billion, a P/E ratio of 9.58 and a beta of 0.53. The firm has a 50-day moving average price of $7.68 and a 200 day moving average price of $7.22. MFA Financial has a one year low of $5.61 and a one year high of $7.86.
MFA Financial (NYSE:MFA ) last posted its earnings results on Wednesday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. MFA Financial had a return on equity of 10.48% and a net margin of 63.80%. The firm had revenue of $66.80 million for the quarter, compared to analyst estimates of $74.09 million. During the same quarter in the prior year, the company earned $0.20 EPS. MFA Financial’s revenue was down 17.6% on a year-over-year basis. On average, analysts forecast that MFA Financial will post $0.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Wednesday, September 28th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 26th. This represents a $0.80 annualized dividend and a yield of 10.60%. MFA Financial’s dividend payout ratio (DPR) is 101.27%.
A number of large investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of MFA Financial during the fourth quarter valued at $22,010,000. Aperio Group LLC increased its position in MFA Financial by 23.9% in the first quarter. Aperio Group LLC now owns 5,369,709 shares of the company’s stock worth $36,783,000 after buying an additional 1,036,897 shares during the last quarter. Virginia Retirement System acquired a new position in MFA Financial during the first quarter worth approximately $963,000. Pacad Investment Ltd. increased its position in MFA Financial by 250.0% in the first quarter. Pacad Investment Ltd. now owns 56,700 shares of the company’s stock worth $388,000 after buying an additional 40,500 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in MFA Financial by 0.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,033,054 shares of the company’s stock worth $13,926,000 after buying an additional 6,675 shares during the last quarter. Institutional investors own 85.51% of the company’s stock.
About MFA Financial
MFA Financial, Inc is a real estate investment trust (REIT). The Company operates as a holding company and conducts its real estate finance businesses through its subsidiaries. The Company’s segment is investing in residential mortgage assets. It invests in residential mortgage assets, including Agency mortgage backed securities (MBS), Non-Agency MBS, residential whole loans and CRT securities.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MFA Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MFA Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.