Zacks Investment Research Upgrades MFA Financial, Inc. (MFA) to “Hold”
Zacks Investment Research upgraded shares of MFA Financial, Inc. (NYSE:MFA) from a sell rating to a hold rating in a report released on Friday morning.
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. “
A number of other analysts also recently weighed in on MFA. Keefe, Bruyette & Woods reiterated a hold rating and set a $8.00 target price on shares of MFA Financial in a research report on Wednesday, June 7th. BidaskClub upgraded MFA Financial from a hold rating to a buy rating in a research report on Tuesday, June 13th. Finally, Royal Bank Of Canada reiterated a buy rating and set a $9.00 target price on shares of MFA Financial in a research report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. MFA Financial currently has a consensus rating of Hold and an average price target of $8.69.
MFA Financial (NYSE MFA) opened at 8.85 on Friday. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 11.16 and a beta of 0.71. MFA Financial has a 1-year low of $7.03 and a 1-year high of $8.90. The firm’s 50-day moving average price is $8.76 and its 200 day moving average price is $8.40.
MFA Financial (NYSE:MFA) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $61.14 million during the quarter, compared to the consensus estimate of $68.91 million. MFA Financial had a return on equity of 10.12% and a net margin of 61.94%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. On average, analysts predict that MFA Financial will post $0.77 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Thursday, September 28th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, September 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.04%. MFA Financial’s dividend payout ratio (DPR) is currently 102.56%.
Several institutional investors have recently bought and sold shares of the company. World Asset Management Inc raised its holdings in shares of MFA Financial by 0.7% during the 1st quarter. World Asset Management Inc now owns 13,255 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 90 shares in the last quarter. Suntrust Banks Inc. raised its holdings in shares of MFA Financial by 0.4% during the 1st quarter. Suntrust Banks Inc. now owns 63,276 shares of the real estate investment trust’s stock worth $510,000 after buying an additional 248 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of MFA Financial by 5.8% during the 2nd 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 in the last quarter. Benchmark Capital Advisors raised its holdings in shares of MFA Financial by 0.4% during the 2nd quarter. Benchmark Capital Advisors now owns 248,722 shares of the real estate investment trust’s stock worth $2,087,000 after buying an additional 900 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of MFA Financial by 0.3% during the 1st quarter. Nuveen Asset Management LLC now owns 288,258 shares of the real estate investment trust’s stock worth $2,329,000 after buying an additional 916 shares in the last quarter. 80.10% of the stock is owned by 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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