New York REIT Inc. (NYRT) Director William M. Kahane Sells 258,134 Shares
New York REIT Inc. (NYSE:NYRT) Director William M. Kahane sold 258,134 shares of New York REIT stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $9.09, for a total transaction of $2,346,438.06. Following the completion of the sale, the director now owns 117,818 shares in the company, valued at $1,070,965.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
New York REIT Inc. (NYSE:NYRT) opened at 9.04 on Thursday. The firm’s market cap is $1.49 billion. New York REIT Inc. has a 52 week low of $8.79 and a 52 week high of $11.90. The company has a 50-day moving average of $9.44 and a 200-day moving average of $9.62.
New York REIT (NYSE:NYRT) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by $0.02. New York REIT had a negative net margin of 19.56% and a negative return on equity of 3.03%. The business earned $399 million during the quarter, compared to the consensus estimate of $41.08 million. The firm’s revenue for the quarter was up 815.1% compared to the same quarter last year. Equities research analysts forecast that New York REIT Inc. will post $0.38 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, October 7th will be paid a $0.0383 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Wednesday, October 5th. New York REIT’s dividend payout ratio (DPR) is -219.05%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NYRT. Aperio Group LLC raised its position in New York REIT by 11.3% in the first quarter. Aperio Group LLC now owns 30,567 shares of the company’s stock worth $309,000 after buying an additional 3,101 shares during the period. TIAA CREF Investment Management LLC raised its position in New York REIT by 18.5% in the first quarter. TIAA CREF Investment Management LLC now owns 492,696 shares of the company’s stock worth $4,976,000 after buying an additional 76,853 shares during the period. Teachers Advisors Inc. raised its position in New York REIT by 5.4% in the first quarter. Teachers Advisors Inc. now owns 222,687 shares of the company’s stock worth $2,249,000 after buying an additional 11,434 shares during the period. BlackRock Inc. raised its position in New York REIT by 9.7% in the first quarter. BlackRock Inc. now owns 158,086 shares of the company’s stock worth $1,597,000 after buying an additional 13,975 shares during the period. Finally, BlackRock Group LTD raised its position in New York REIT by 2.6% in the first quarter. BlackRock Group LTD now owns 1,088,743 shares of the company’s stock worth $10,997,000 after buying an additional 27,162 shares during the period. 70.73% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. TheStreet lowered shares of New York REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Zacks Investment Research upgraded shares of New York REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. JMP Securities restated a “buy” rating on shares of New York REIT in a research note on Tuesday, June 28th. Finally, Compass Point assumed coverage on shares of New York REIT in a research note on Thursday, June 30th. They set a “buy” rating and a $12.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. New York REIT has a consensus rating of “Hold” and a consensus target price of $12.10.
About New York REIT
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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