Patrick A. O’malley Sells 8,311 Shares of New York REIT Inc. (NYRT) Stock
New York REIT Inc. (NYSE:NYRT) insider Patrick A. O’malley sold 8,311 shares of the business’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $9.25, for a total value of $76,876.75. Following the completion of the transaction, the insider now directly owns 36,198 shares of the company’s stock, valued at $334,831.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
New York REIT Inc. (NYSE:NYRT) opened at 9.09 on Tuesday. New York REIT Inc. has a 52 week low of $8.79 and a 52 week high of $11.90. The stock’s market capitalization is $1.50 billion. 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 issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.02. The business earned $399 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 815.1% compared to the same quarter last year. Equities research analysts expect that New York REIT Inc. will post $0.38 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, October 7th will be given a dividend of $0.0383 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.46 annualized dividend and a dividend yield of 5.06%. New York REIT’s dividend payout ratio is currently -219.05%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in New York REIT by 4.2% in the second quarter. Macquarie Group Ltd. now owns 32,000 shares of the company’s stock valued at $296,000 after buying an additional 1,300 shares in the last quarter. IFP Advisors Inc raised its position in New York REIT by 0.5% in the second quarter. IFP Advisors Inc now owns 38,248 shares of the company’s stock valued at $354,000 after buying an additional 191 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in New York REIT by 10.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,241,062 shares of the company’s stock valued at $11,480,000 after buying an additional 113,745 shares in the last quarter. Amalgamated Bank raised its position in New York REIT by 3.4% in the second quarter. Amalgamated Bank now owns 18,043 shares of the company’s stock valued at $180,000 after buying an additional 601 shares in the last quarter. Finally, Legal & General Group Plc raised its position in New York REIT by 8.8% in the second quarter. Legal & General Group Plc now owns 345,030 shares of the company’s stock valued at $3,189,000 after buying an additional 27,831 shares in the last quarter. Institutional investors and hedge funds own 70.73% of the company’s stock.
Several research firms have recently commented on NYRT. JMP Securities reissued a “buy” rating on shares of New York REIT in a research report on Tuesday, June 28th. Zacks Investment Research raised New York REIT from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. TheStreet lowered New York REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Finally, Compass Point began coverage on New York REIT in a research report on Thursday, June 30th. They issued a “buy” rating and a $12.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. New York REIT has a consensus rating of “Hold” and an average target price 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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