Zacks Investment Research lowered shares of New York REIT (NYSE:NYRT) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

According to Zacks, “New York REIT, Inc. is a real estate investment trust. It focuses on acquiring commercial real estate, as well as acquiring properties or making other real estate investments that relate to office, retail, multi-family residential, industrial, and hotel property types located primarily in New York City. New York REIT, Inc. is based in New York. “

A number of other equities research analysts have also recently issued reports on the stock. ValuEngine raised shares of New York REIT from a hold rating to a buy rating in a report on Friday, December 1st. SunTrust Banks set a $7.00 target price on shares of New York REIT and gave the company a hold rating in a report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $8.38.

Shares of New York REIT (NYSE:NYRT) opened at $1.96 on Tuesday. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.45. New York REIT has a 1-year low of $1.95 and a 1-year high of $10.10. The stock has a market cap of $337.54, a price-to-earnings ratio of 6.28 and a beta of 0.67.

The company also recently declared a special dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 19th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, January 29th.

Institutional investors have recently added to or reduced their stakes in the company. Laurel Wealth Advisors Inc. bought a new position in shares of New York REIT in the third quarter worth $102,000. Institutional & Family Asset Management LLC bought a new position in shares of New York REIT in the third quarter worth $146,000. Virtu KCG Holdings LLC bought a new position in shares of New York REIT in the second quarter worth $170,000. First Manhattan Co. increased its holdings in shares of New York REIT by 100.0% in the third quarter. First Manhattan Co. now owns 20,000 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 10,000 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in shares of New York REIT in the third quarter worth $167,000. 69.86% of the stock is currently owned by hedge funds and other institutional investors.

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New York REIT Company Profile

New York REIT, Inc is a real estate investment trust. The Company owns a portfolio of commercial real estate. The Company’s business is primarily conducted through New York Recovery Operating Partnership, L.P. As of December 31, 2016, the Company owned 19 properties, which aggregated 3.3 million rentable square feet.

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