Zacks Investment Research Upgrades MFA Financial, Inc. (MFA) to Hold
MFA Financial, Inc. (NYSE:MFA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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. “
MFA has been the subject of a number of other reports. BidaskClub raised shares of MFA Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $8.50 price target on shares of MFA Financial in a research note on Friday, August 4th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $9.00 price target on shares of MFA Financial in a research note on Friday, August 4th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. MFA Financial has an average rating of “Hold” and a consensus target price of $8.69.
Shares of MFA Financial (NYSE:MFA) opened at 8.85 on Friday. The company’s 50-day moving average is $8.76 and its 200-day moving average is $8.40. The company has a market capitalization of $3.51 billion, a PE ratio of 11.16 and a beta of 0.71. MFA Financial has a one year low of $7.03 and a one year high of $8.90.
MFA Financial (NYSE:MFA) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $61.14 million during the quarter, compared to the consensus estimate of $68.91 million. MFA Financial had a net margin of 61.94% and a return on equity of 10.12%. MFA Financial’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. Equities analysts predict that MFA Financial will post $0.77 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in MFA Financial by 7.1% during the second quarter. Vanguard Group Inc. now owns 31,981,258 shares of the real estate investment trust’s stock valued at $268,322,000 after purchasing an additional 2,106,310 shares during the period. BlackRock Inc. grew its holdings in MFA Financial by 10.0% during the second quarter. BlackRock Inc. now owns 25,784,592 shares of the real estate investment trust’s stock valued at $216,333,000 after purchasing an additional 2,350,575 shares during the period. FMR LLC grew its holdings in MFA Financial by 5.0% during the second quarter. FMR LLC now owns 22,402,989 shares of the real estate investment trust’s stock valued at $187,962,000 after purchasing an additional 1,065,338 shares during the period. Wellington Management Group LLP grew its holdings in MFA Financial by 1.5% during the first quarter. Wellington Management Group LLP now owns 12,719,160 shares of the real estate investment trust’s stock valued at $102,772,000 after purchasing an additional 188,153 shares during the period. Finally, Geode Capital Management LLC grew its holdings in MFA Financial by 3.3% during the first quarter. Geode Capital Management LLC now owns 5,932,340 shares of the real estate investment trust’s stock valued at $47,933,000 after purchasing an additional 189,548 shares during the period. Hedge funds and other institutional investors own 80.10% of the company’s stock.
MFA Financial Company Profile
MFA Financial, Inc is engaged in the real estate finance business. The Company’s subsidiaries invest in residential mortgage assets, including Non-Agency mortgage-backed securities (MBS), Agency MBS, residential whole loans and credit risk transfer (CRT) securities. The Company’s Non-Agency MBS portfolio primarily consists of Legacy Non-Agency MBS and 3 Year Step-up securities.
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