New York REIT Inc. (NYRT) to Issue Monthly Dividend of $0.04 on October 14th
New York REIT Inc. (NYSE:NYRT) declared a monthly dividend on Tuesday, September 27th. Investors of record on Friday, October 7th will be given a dividend of 0.0383 per share on Friday, October 14th. This represents a $0.46 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Wednesday, October 5th.
New York REIT (NYSE:NYRT) opened at 9.09 on Tuesday. The firm’s market cap is $1.50 billion. New York REIT has a 52-week low of $8.79 and a 52-week high of $11.90. The company’s 50 day moving average price is $9.49 and its 200 day moving average price is $9.63.
New York REIT (NYSE:NYRT) last released its earnings results on Tuesday, August 9th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.02. The firm had revenue of $399 million for the quarter, compared to the consensus estimate of $41.08 million. New York REIT had a negative return on equity of 3.03% and a negative net margin of 19.56%. The company’s revenue was up 815.1% on a year-over-year basis. Analysts predict that New York REIT will post $0.38 earnings per share for the current fiscal year.
In related news, insider Patrick A. O’malley sold 8,311 shares of the firm’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $9.25, for a total value of $76,876.75. Following the completion of the sale, the insider now directly owns 36,198 shares in the company, valued at approximately $334,831.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William M. Kahane sold 114,932 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $9.17, for a total transaction of $1,053,926.44. Following the completion of the sale, the director now owns 447,933 shares of the company’s stock, valued at $4,107,545.61. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of NYRT. Highbridge Capital Management LLC purchased a new stake in shares of New York REIT during the second quarter valued at about $4,122,000. Cubist Systematic Strategies LLC increased its stake in shares of New York REIT by 165.9% in the second quarter. Cubist Systematic Strategies LLC now owns 36,690 shares of the company’s stock valued at $339,000 after buying an additional 22,894 shares during the period. AQR Capital Management LLC increased its stake in shares of New York REIT by 255.7% in the second quarter. AQR Capital Management LLC now owns 149,168 shares of the company’s stock valued at $1,380,000 after buying an additional 107,228 shares during the period. Paloma Partners Management Co purchased a new stake in shares of New York REIT during the second quarter valued at about $257,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of New York REIT during the second quarter valued at about $751,000. Institutional investors and hedge funds own 70.73% of the company’s stock.
A number of equities analysts have issued reports on the company. Compass Point assumed coverage on New York REIT in a report on Thursday, June 30th. They set a “buy” rating and a $12.00 target price for the company. Zacks Investment Research cut New York REIT from a “hold” rating to a “sell” rating in a report on Thursday, June 16th. TheStreet cut New York REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Finally, JMP Securities reiterated a “buy” rating on shares of New York REIT in a report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. New York REIT has a consensus rating of “Hold” and an average price target of $12.10.
New York REIT Company Profile
New York REIT, Inc is a real estate investment trust. The Company focuses on acquiring and owning office and retail properties in Manhattan. The Company’s business is primarily conducted through New York Recovery Operating Partnership, L.P. The Company owns approximately 20 properties in New York City, which aggregate approximately 3.4 million rentable square feet.
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