Zacks Investment Research Lowers MFA Financial, Inc. (MFA) to Sell
Zacks Investment Research lowered shares of MFA Financial, Inc. (NYSE:MFA) from a hold rating to a sell rating in a research note published on Friday.
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. “
Several other research firms have also recently issued reports on MFA. BidaskClub upgraded MFA Financial from a buy rating to a strong-buy rating in a report on Monday, June 19th. Keefe, Bruyette & Woods restated a hold rating and set a $8.00 price objective on shares of MFA Financial in a report on Wednesday, June 7th. Wells Fargo & Company upgraded MFA Financial from an underperform rating to a market perform rating in a report on Monday, May 15th. Finally, Royal Bank Of Canada restated a buy rating and set a $9.00 price objective on shares of MFA Financial in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. MFA Financial presently has an average rating of Hold and an average target price of $8.11.
MFA Financial (MFA) opened at 8.49 on Friday. MFA Financial has a 1-year low of $7.03 and a 1-year high of $8.67. The firm’s 50-day moving average price is $8.51 and its 200-day moving average price is $8.20. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 10.65 and a beta of 0.72.
MFA Financial (NYSE:MFA) last released its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $66.91 million during the quarter, compared to the consensus estimate of $65.97 million. MFA Financial had a return on equity of 10.36% and a net margin of 61.22%. MFA Financial’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 earnings per share. On average, equities research analysts anticipate that MFA Financial will post $0.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Thursday, June 29th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 9.42%. The ex-dividend date of this dividend was Tuesday, June 27th. MFA Financial’s dividend payout ratio (DPR) is 102.57%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado raised its position in shares of MFA Financial by 5.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,407 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 678 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of MFA Financial during the first quarter worth $105,000. World Asset Management Inc raised its stake in MFA Financial by 0.7% in the first quarter. World Asset Management Inc now owns 13,255 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 90 shares during the last quarter. Koch Industries Inc. acquired a new stake in MFA Financial during the first quarter valued at approximately $109,000. Finally, Meadow Creek Investment Management LLC raised its stake in MFA Financial by 10.3% in the first quarter. Meadow Creek Investment Management LLC now owns 13,552 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 1,260 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.
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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