New York REIT, Inc. (NYRT) Given “Buy” Rating at Compass Point

New York REIT, Inc. (NYSE:NYRT)‘s stock had its “buy” rating reissued by Compass Point in a report released on Friday. They presently have a $9.75 price objective on the real estate investment trust’s stock, down from their prior price objective of $11.50. Compass Point’s price target would indicate a potential upside of 12.59% from the stock’s previous close.

A number of other brokerages have also issued reports on NYRT. BidaskClub lowered New York REIT from a “sell” rating to a “strong sell” rating in a research note on Friday. Zacks Investment Research raised New York REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, June 7th. Finally, TheStreet lowered New York REIT from a “c-” rating to a “d+” rating in a research note on Friday, March 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. New York REIT presently has an average rating of “Hold” and a consensus price target of $10.38.

Shares of New York REIT (NYSE NYRT) traded up 0.46% on Friday, hitting $8.66. 1,345,226 shares of the stock traded hands. The firm’s 50 day moving average is $8.92 and its 200-day moving average is $9.58. The company’s market cap is $1.44 billion. New York REIT has a 12 month low of $8.54 and a 12 month high of $10.15.

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Hedge funds have recently modified their holdings of the company. State Street Corp raised its stake in shares of New York REIT by 2.7% in the fourth quarter. State Street Corp now owns 5,623,310 shares of the real estate investment trust’s stock worth $56,907,000 after buying an additional 148,726 shares during the last quarter. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of New York REIT during the first quarter worth about $38,760,000. MARSHALL WACE ASIA Ltd acquired a new stake in shares of New York REIT during the first quarter worth about $27,864,000. Marshall Wace North America L.P. acquired a new stake in shares of New York REIT during the first quarter worth about $27,864,000. Finally, Real Estate Management Services LLC raised its stake in shares of New York REIT by 59.2% in the first quarter. Real Estate Management Services LLC now owns 2,370,100 shares of the real estate investment trust’s stock worth $22,966,000 after buying an additional 881,400 shares during the last quarter. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

About New York REIT

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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