New York REIT (NYRT) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research cut shares of New York REIT (NYSE:NYRT) from a hold rating to a sell rating in a report released 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. “
Other research analysts also recently issued research reports about the stock. SunTrust Banks set a $7.00 price objective on shares of New York REIT and gave the company a hold rating in a research report on Friday, December 1st. ValuEngine raised shares of New York REIT from a hold rating to a buy rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $8.38.
The business also recently announced a special dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 19th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, January 29th.
Several hedge funds have recently made changes to their positions in NYRT. Long Pond Capital LP bought a new stake in shares of New York REIT during the 3rd quarter worth about $88,123,000. Alyeska Investment Group L.P. boosted its holdings in shares of New York REIT by 74.1% during the 3rd quarter. Alyeska Investment Group L.P. now owns 5,759,906 shares of the real estate investment trust’s stock worth $45,215,000 after buying an additional 2,452,182 shares during the period. 683 Capital Management LLC boosted its holdings in shares of New York REIT by 166.7% during the 3rd quarter. 683 Capital Management LLC now owns 2,000,000 shares of the real estate investment trust’s stock worth $15,700,000 after buying an additional 1,250,000 shares during the period. North Run Capital LP boosted its holdings in shares of New York REIT by 38.1% during the 4th quarter. North Run Capital LP now owns 3,625,000 shares of the real estate investment trust’s stock worth $14,246,000 after buying an additional 1,000,000 shares during the period. Finally, Towerview LLC bought a new stake in shares of New York REIT during the 4th quarter worth about $2,849,000. 69.86% of the stock is owned by institutional investors and hedge funds.
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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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