MFA Financial Inc. (MFA) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of MFA Financial Inc. (NYSE:MFA ) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $8.50 price objective on the stock.
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. “
Other analysts also recently issued reports about the company. Deutsche Bank AG set a $7.50 target price on MFA Financial and gave the company a hold rating in a research note on Tuesday, August 9th. Credit Suisse Group AG reiterated a hold rating and set a $7.50 target price on shares of MFA Financial in a research note on Sunday, September 11th. FBR & Co downgraded 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. Finally, Compass Point downgraded MFA Financial from a neutral rating to a sell rating and set a $7.00 price target on the stock. in a research note on Wednesday, June 15th. Two investment 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 a consensus target price of $7.60.
Shares of MFA Financial (NYSE:MFA) opened at 7.53 on Tuesday. MFA Financial has a one year low of $5.61 and a one year high of $7.86. The company’s 50-day moving average price is $7.68 and its 200-day moving average price is $7.23. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 9.56 and a beta of 0.53.
MFA Financial (NYSE:MFA ) last issued its earnings results on Wednesday, August 3rd. The company reported $0.20 EPS for the quarter, beating the 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 business had revenue of $66.80 million for the quarter, compared to the consensus estimate of $74.09 million. During the same period last year, the business posted $0.20 EPS. The company’s revenue was down 17.6% compared to the same quarter last year. On average, equities research analysts predict that MFA Financial will post $0.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Wednesday, September 28th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 26th. This represents a $0.80 dividend on an annualized basis and a yield of 10.62%. MFA Financial’s dividend payout ratio is currently 101.27%.
A number of institutional investors have recently made changes to their positions in the company. Cypress Wealth Advisors LLC boosted its position in shares of MFA Financial by 71.2% in the first quarter. Cypress Wealth Advisors LLC now owns 66,691 shares of the company’s stock worth $457,000 after buying an additional 27,744 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of MFA Financial during the first quarter worth approximately $749,000. Cannell Peter B & Co Inc boosted its position in shares of MFA Financial by 34.1% in the first quarter. Cannell Peter B & Co Inc now owns 1,152,950 shares of the company’s stock worth $7,898,000 after buying an additional 293,500 shares in the last quarter. Menta Capital LLC acquired a new stake in MFA Financial during the first quarter worth approximately $525,000. Finally, BlackRock Group LTD boosted its stake in MFA Financial by 17.7% in the first quarter. BlackRock Group LTD now owns 305,968 shares of the company’s stock worth $2,097,000 after buying an additional 45,986 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.
MFA Financial Company Profile
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.
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