New York REIT Inc. (NYRT) Director William M. Kahane Sells 93,818 Shares
New York REIT Inc. (NYSE:NYRT) Director William M. Kahane sold 93,818 shares of New York REIT stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $9.09, for a total transaction of $852,805.62. Following the transaction, the director now directly owns 117,818 shares in the company, valued at $1,070,965.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
New York REIT Inc. (NYSE:NYRT) opened at 9.04 on Thursday. The stock’s market capitalization is $1.49 billion. The firm has a 50-day moving average of $9.44 and a 200 day moving average of $9.62. New York REIT Inc. has a 12-month low of $8.79 and a 12-month high of $11.90.
New York REIT (NYSE:NYRT) last announced its earnings results on Tuesday, August 9th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $399 million for the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 815.1% compared to the same quarter last year. On average, analysts predict that New York REIT Inc. will post $0.38 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, October 7th will be given a dividend of $0.0383 per share. This represents a $0.46 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Wednesday, October 5th. New York REIT’s payout ratio is currently -219.05%.
Several equities analysts recently issued reports on the stock. JMP Securities reissued a “buy” rating on shares of New York REIT in a report on Tuesday, June 28th. Zacks Investment Research raised shares of New York REIT from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. TheStreet lowered shares of New York REIT from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Finally, Compass Point assumed coverage on shares of New York REIT in a report on Thursday, June 30th. They set a “buy” rating and a $12.00 price objective on the stock. 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 company. The company has an average rating of “Hold” and a consensus price target of $12.10.
A number of institutional investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of New York REIT by 0.5% in the second quarter. IFP Advisors Inc now owns 38,248 shares of the company’s stock worth $354,000 after buying an additional 191 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of New York REIT by 1.7% in the second quarter. ProShare Advisors LLC now owns 20,220 shares of the company’s stock worth $187,000 after buying an additional 332 shares during the last quarter. M&T Bank Corp boosted its position in shares of New York REIT by 2.5% in the first quarter. M&T Bank Corp now owns 17,016 shares of the company’s stock worth $172,000 after buying an additional 410 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of New York REIT by 1.5% in the second quarter. Hsbc Holdings PLC now owns 32,593 shares of the company’s stock worth $302,000 after buying an additional 482 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of New York REIT by 3.4% in the second quarter. Amalgamated Bank now owns 18,043 shares of the company’s stock worth $180,000 after buying an additional 601 shares during the last quarter. Institutional investors own 70.73% of the company’s stock.
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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