MFA Financial, Inc. (MFA) Downgraded to Buy at BidaskClub
BidaskClub cut shares of MFA Financial, Inc. (NYSE:MFA) from a strong-buy rating to a buy rating in a report issued on Wednesday morning.
Several other brokerages have also issued reports on MFA. Zacks Investment Research raised MFA Financial from a sell rating to a hold rating in a report on Wednesday, August 23rd. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $8.50 price objective on shares of MFA Financial in a report on Friday, August 4th. Royal Bank Of Canada reaffirmed a buy rating and set a $9.00 price objective on shares of MFA Financial in a report on Friday, August 4th. Finally, Wells Fargo & Company raised MFA Financial from an underperform rating to a market perform rating in a report on Monday, May 15th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. MFA Financial currently has a consensus rating of Hold and a consensus price target of $8.29.
MFA Financial (MFA) opened at 8.72 on Wednesday. MFA Financial has a one year low of $7.03 and a one year high of $8.90. The company has a market capitalization of $3.46 billion, a P/E ratio of 11.00 and a beta of 0.72. The stock’s 50 day moving average price is $8.66 and its 200-day moving average price is $8.31.
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, beating the Zacks’ consensus estimate of $0.18 by $0.02. MFA Financial had a return on equity of 10.12% and a net margin of 61.94%. The company had revenue of $61.14 million for the quarter, compared to analysts’ expectations of $68.91 million. During the same period last year, the firm earned $0.20 earnings per share. MFA Financial’s quarterly revenue was down 8.5% on a year-over-year basis. Equities analysts forecast that MFA Financial will post $0.77 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in MFA. Prudential Financial Inc. raised its position in MFA Financial by 3.2% in the first quarter. Prudential Financial Inc. now owns 598,556 shares of the real estate investment trust’s stock worth $4,836,000 after buying an additional 18,297 shares in the last quarter. Principal Financial Group Inc. raised its position in MFA Financial by 1.3% in the first quarter. Principal Financial Group Inc. now owns 280,876 shares of the real estate investment trust’s stock worth $2,269,000 after buying an additional 3,504 shares in the last quarter. Russell Investments Group Ltd. raised its position in MFA Financial by 34.9% in the first quarter. Russell Investments Group Ltd. now owns 475,335 shares of the real estate investment trust’s stock worth $3,842,000 after buying an additional 123,042 shares in the last quarter. Sigma Planning Corp raised its position in MFA Financial by 26.0% in the second quarter. Sigma Planning Corp now owns 19,120 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 3,946 shares in the last quarter. Finally, First Trust Advisors LP raised its position in MFA Financial by 11.6% in the first quarter. First Trust Advisors LP now owns 3,199,466 shares of the real estate investment trust’s stock worth $25,852,000 after buying an additional 333,383 shares in the last quarter. 80.10% of the stock is currently owned by hedge funds and other institutional investors.
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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