Zacks Investment Research Downgrades New York REIT (NYRT) to Sell

New York REIT (NYSE:NYRT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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 reports. SunTrust Banks set a $7.00 price objective on shares of New York REIT and gave the company a “hold” rating in a research note on Friday, December 1st. ValuEngine upgraded shares of New York REIT from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $8.38.

New York REIT (NYSE NYRT) opened at $2.02 on Wednesday. New York REIT has a one year low of $1.93 and a one year high of $10.03. The firm has a market cap of $334.18, a P/E ratio of -4.04 and a beta of 0.67. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.45.

A number of large investors have recently made changes to their positions in the business. Orinda Asset Management LLC boosted its holdings in New York REIT by 1.6% in the 3rd quarter. Orinda Asset Management LLC now owns 437,596 shares of the real estate investment trust’s stock valued at $3,435,000 after purchasing an additional 6,803 shares during the period. California Public Employees Retirement System boosted its holdings in New York REIT by 2.2% in the 2nd quarter. California Public Employees Retirement System now owns 337,100 shares of the real estate investment trust’s stock valued at $2,913,000 after purchasing an additional 7,300 shares during the period. Swiss National Bank boosted its holdings in New York REIT by 2.9% in the 3rd quarter. Swiss National Bank now owns 280,700 shares of the real estate investment trust’s stock valued at $2,203,000 after purchasing an additional 8,000 shares during the period. Northern Trust Corp boosted its holdings in New York REIT by 2.6% in the 2nd quarter. Northern Trust Corp now owns 349,383 shares of the real estate investment trust’s stock valued at $3,019,000 after purchasing an additional 8,783 shares during the period. Finally, First Allied Advisory Services Inc. boosted its holdings in New York REIT by 3.4% in the 3rd quarter. First Allied Advisory Services Inc. now owns 278,012 shares of the real estate investment trust’s stock valued at $2,183,000 after purchasing an additional 9,201 shares during the period. 68.97% of the stock is owned by hedge funds and other institutional investors.

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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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