New York REIT (NYRT) Trading Down 20.4%
Shares of New York REIT, Inc. (NYSE:NYRT) traded down 20.4% during trading on Friday . The stock traded as low as $3.89 and last traded at $3.90. 2,823,812 shares were traded during mid-day trading, an increase of 10% from the average session volume of 2,556,471 shares. The stock had previously closed at $4.90.
Several analysts recently commented on the company. SunTrust Banks set a $7.00 target price on New York REIT and gave the company a “hold” rating in a research report on Friday, December 1st. ValuEngine upgraded New York REIT from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $8.38.
The company has a debt-to-equity ratio of 1.45, a quick ratio of 5.24 and a current ratio of 5.24. The company has a market cap of $654.92, a PE ratio of 12.19 and a beta of 0.68.
Several hedge funds have recently modified their holdings of the company. 683 Capital Management LLC increased its position 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 valued at $15,700,000 after purchasing an additional 1,250,000 shares during the period. Institutional & Family Asset Management LLC acquired a new position in shares of New York REIT during the 3rd quarter valued at $146,000. Belpointe Asset Management LLC acquired a new position in shares of New York REIT during the 3rd quarter valued at $297,000. Cubist Systematic Strategies LLC increased its position in shares of New York REIT by 177.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 123,307 shares of the real estate investment trust’s stock valued at $968,000 after purchasing an additional 78,892 shares during the period. Finally, Kalos Management Inc. increased its position in shares of New York REIT by 145.0% during the 3rd quarter. Kalos Management Inc. now owns 24,733 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 14,639 shares during the period. Institutional investors own 70.41% of the company’s stock.
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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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