Zacks Investment Research cut shares of New York REIT (NYSE:NYRT) from a hold rating to a sell rating in a research note published on Wednesday.

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. “

NYRT has been the subject of a number of other research reports. SunTrust Banks set a $7.00 price objective on shares of New York REIT and gave the company a hold rating in a report on Friday, December 1st. ValuEngine upgraded shares of New York REIT from a hold rating to a buy rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $8.38.

Shares of New York REIT (NYSE NYRT) traded up $0.01 during midday trading on Wednesday, reaching $2.00. 164,208 shares of the company were exchanged, compared to its average volume of 2,348,090. The company has a market cap of $327.46, a price-to-earnings ratio of -4.00 and a beta of 0.67. New York REIT has a 1-year low of $1.93 and a 1-year high of $10.03. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.45.

The company also recently declared a special dividend, which was paid on Friday, January 26th. Shareholders 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.

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in New York REIT during the 4th quarter worth approximately $100,000. Laurel Wealth Advisors Inc. bought a new position in New York REIT during the 3rd quarter worth approximately $102,000. Private Advisor Group LLC bought a new position in New York REIT during the 4th quarter worth approximately $125,000. Institutional & Family Asset Management LLC bought a new position in New York REIT during the 3rd quarter worth approximately $146,000. Finally, Dean Capital Investments Management LLC bought a new position in New York REIT during the 4th quarter worth approximately $154,000. Hedge funds and other institutional investors own 68.97% 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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