Royal Bank Of Canada Reiterates “Buy” Rating for MFA Financial, Inc. (MFA)
MFA Financial, Inc. (NYSE:MFA)‘s stock had its “buy” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research report issued on Tuesday. They currently have a $9.00 price target on the real estate investment trust’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 15.90% from the company’s current price.
MFA has been the topic of several other research reports. Zacks Investment Research raised MFA Financial from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Wednesday, October 4th. BidaskClub lowered MFA Financial from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. 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, JMP Securities lowered MFA Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $9.08.
Shares of MFA Financial (MFA) opened at $7.77 on Tuesday. MFA Financial has a twelve month low of $7.22 and a twelve month high of $8.90. The firm has a market capitalization of $3,110.00, a P/E ratio of 10.94 and a beta of 0.68.
MFA Financial (NYSE:MFA) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.03). The firm had revenue of $55.86 million for the quarter, compared to analysts’ expectations of $71.13 million. MFA Financial had a return on equity of 9.33% and a net margin of 59.03%. MFA Financial’s revenue was down 13.5% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. analysts predict that MFA Financial will post 0.79 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of MFA Financial by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 31,981,258 shares of the real estate investment trust’s stock worth $268,322,000 after purchasing an additional 2,106,310 shares during the last quarter. BlackRock Inc. raised its position in shares of MFA Financial by 10.0% during the 2nd quarter. BlackRock Inc. now owns 25,784,592 shares of the real estate investment trust’s stock worth $216,333,000 after purchasing an additional 2,350,575 shares during the last quarter. FMR LLC raised its position in shares of MFA Financial by 5.0% during the 2nd quarter. FMR LLC now owns 22,402,989 shares of the real estate investment trust’s stock worth $187,962,000 after purchasing an additional 1,065,338 shares during the last quarter. State Street Corp raised its position in shares of MFA Financial by 0.5% during the 2nd quarter. State Street Corp now owns 5,756,834 shares of the real estate investment trust’s stock worth $48,305,000 after purchasing an additional 26,708 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of MFA Financial during the 2nd quarter worth approximately $47,801,000. Hedge funds and other institutional investors own 80.27% of the company’s stock.
About MFA Financial
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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