MFA Financial (MFA) Lowered to Strong Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of MFA Financial (NYSE:MFA) from a hold rating to a strong sell rating in a report published on Saturday.
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 topic of a number of other research reports. BidaskClub downgraded shares of MFA Financial from a hold rating to a sell rating in a research note on Saturday, October 28th. JMP Securities downgraded shares of MFA Financial from an outperform rating to a market perform rating in a research note on Friday, October 20th. Royal Bank of Canada reaffirmed a buy rating and set a $9.00 price target on shares of MFA Financial in a research note on Tuesday, November 7th. Finally, B. Riley reaffirmed a neutral rating on shares of MFA Financial in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. MFA Financial currently has an average rating of Hold and a consensus target price of $9.08.
Shares of MFA Financial (MFA) opened at $7.80 on Friday. The stock has a market cap of $3,096.16, a price-to-earnings ratio of 10.68 and a beta of 0.66. MFA Financial has a 12 month low of $7.58 and a 12 month high of $8.90.
MFA Financial (NYSE:MFA) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.03). The business had revenue of $55.86 million for the quarter, compared to analysts’ expectations of $71.13 million. MFA Financial had a net margin of 59.03% and a return on equity of 9.33%. MFA Financial’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. analysts predict that MFA Financial will post 0.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Thursday, December 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 10.26%. The ex-dividend date of this dividend is Wednesday, December 27th. MFA Financial’s dividend payout ratio (DPR) is 109.59%.
In other news, insider Ronald A. Freydberg acquired 20,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were acquired at an average price of $7.78 per share, for a total transaction of $155,600.00. Following the completion of the transaction, the insider now directly owns 579,714 shares of the company’s stock, valued at approximately $4,510,174.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.92% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MFA Financial by 10.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,899 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 1,563 shares during the last quarter. Suntrust Banks Inc. increased its position in MFA Financial by 3.1% during the second quarter. Suntrust Banks Inc. now owns 65,255 shares of the real estate investment trust’s stock valued at $546,000 after acquiring an additional 1,979 shares during the last quarter. Virtu KCG Holdings LLC increased its position in MFA Financial by 6.1% during the second quarter. Virtu KCG Holdings LLC now owns 37,588 shares of the real estate investment trust’s stock valued at $315,000 after acquiring an additional 2,147 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of MFA Financial by 3.0% in the second quarter. ProShare Advisors LLC now owns 105,848 shares of the real estate investment trust’s stock worth $888,000 after purchasing an additional 3,108 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of MFA Financial by 19.9% in the second quarter. MML Investors Services LLC now owns 21,131 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 3,511 shares during the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally published by Watch List News and is the property of of Watch List News. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.watchlistnews.com/mfa-financial-mfa-lowered-to-strong-sell-at-zacks-investment-research/1809117.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MFA Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MFA Financial and related companies with MarketBeat.com's FREE daily email newsletter.