MFA Financial (NYSE:MFA) Sets New 12-Month Low – Here’s Why

MFA Financial, Inc. (NYSE:MFA) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.36 and last traded at $8.3750, with a volume of 749166 shares changing hands. The stock had previously closed at $8.56.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup reiterated a “market outperform” rating on shares of MFA Financial in a research note on Tuesday, August 4th. William Blair set a $11.00 price target on shares of MFA Financial in a report on Tuesday, August 4th. BTIG Research raised shares of MFA Financial from a “neutral” rating to a “buy” rating and set a $10.50 price target on the stock in a research note on Wednesday, June 17th. Citizens Jmp reduced their price target on shares of MFA Financial from $11.50 to $11.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $10.00 price objective on shares of MFA Financial in a report on Thursday, August 20th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.46.

MFA Financial Stock Down 3.0%

The stock’s 50 day moving average is $8.96 and its two-hundred day moving average is $9.43. The company has a market capitalization of $839.55 million, a PE ratio of 8.30 and a beta of 1.41.

Hedge Funds Weigh In On MFA Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in MFA Financial by 245.2% in the first quarter. Renaissance Technologies LLC now owns 777,025 shares of the real estate investment trust’s stock worth $7,444,000 after acquiring an additional 551,927 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MFA Financial during the second quarter valued at about $3,589,000. BlackRock Inc. raised its position in shares of MFA Financial by 3.0% in the 2nd quarter. BlackRock Inc. now owns 9,459,988 shares of the real estate investment trust’s stock valued at $91,667,000 after purchasing an additional 271,707 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of MFA Financial in the 2nd quarter valued at approximately $1,676,000. Finally, Corient Private Wealth LP acquired a new stake in MFA Financial in the 2nd quarter worth approximately $1,539,000. 65.28% of the stock is currently owned by institutional investors.

About MFA Financial

MFA Financial, Inc is a real estate investment trust (REIT) that focuses primarily on residential mortgage assets. The company invests in and manages a portfolio that may include agency and non-agency mortgage-backed securities, residential whole loans, mortgage servicing rights and other residential credit investments.

MFA’s investment activities are designed to provide exposure to the U.S. residential housing and mortgage markets. Through its affiliated businesses, the company also participates in residential lending, including financing for single-family rental properties and residential real estate investors.

Founded in 1997 and headquartered in New York City, MFA Financial has operated as a publicly traded mortgage REIT since its initial public offering in 1998.