New York REIT (NYRT) Trading Down 20.4%

New York REIT, Inc. (NYSE:NYRT) fell 20.4% on Friday . The company 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.

A number of brokerages have recently weighed in on NYRT. SunTrust Banks set a $7.00 price target on New York REIT and gave the company a “hold” rating in a report on Friday, December 1st. ValuEngine upgraded New York REIT from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $8.38.

The firm has a market capitalization of $824.53, a PE ratio of 15.34 and a beta of 0.68. 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 business also recently disclosed a dividend, which will be paid on Wednesday, December 27th. Investors of record on Monday, December 18th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 15th.

A number of large investors have recently added to or reduced their stakes in NYRT. Long Pond Capital LP acquired a new position in New York REIT during the 3rd quarter valued at approximately $88,123,000. Alyeska Investment Group L.P. boosted its position in 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 valued at $45,215,000 after purchasing an additional 2,452,182 shares during the period. 683 Capital Management LLC boosted its position in 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. Hotchkis & Wiley Capital Management LLC acquired a new position in New York REIT during the 2nd quarter valued at approximately $9,746,000. Finally, Tahithromos L.L.C. acquired a new position in New York REIT during the 2nd quarter valued at approximately $7,347,000. Institutional investors and hedge funds 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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