Analyst Price Target Update on New York REIT (NYSE:NYRT)

New York REIT (NYSE:NYRT) shares are expected to touch $12 in the short term. This short term price target has been shared by 3 analysts. However, the standard deviation of short term price estimate has been valued at 0.87. The target price could hit $13 on the higher end and $11 on the lower end.

For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, Rowan Marc J, director of New York Reit, Inc., executed a transaction worth $1,053,831 on October 6, 2015. A total of 99,418 shares were purchased at an average price of $10.6. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

New York REIT (NYSE:NYRT) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.05 points or 0.53% at $9.38 with 930,296 shares getting traded. Post opening the session at $9.45, the shares hit an intraday low of $9.25 and an intraday high of $9.5 and the price was in this range throughout the day. The company has a market cap of $1,548 million and the number of outstanding shares have been calculated to be 165,033,400 shares. The 52-week high of New York REIT (NYSE:NYRT) is $11.9 and the 52-week low is $8.79.

New York REIT, Inc. is a real estate investment trust. The Company focuses on acquiring income-producing commercial real estate in New York City. The Company primarily focuses on office and retail properties located in Manhattan. Approximately 95.9% of the Companys properties are located in Manhattan, while approximately 3.8% is located in Brooklyn and approximately 0.3% in Queens. The Company owns approximately 24 properties and real estate-related assets located in New York City. The Companys properties aggregate approximately 3.4 million rentable square feet with an average occupancy of approximately 94.9% and an average remaining lease term of approximately 9.9 years. The Companys portfolio primarily consists of office and retail properties, representing approximately 82% and 9% of rentable square feet, respectively. The Company conducts most of its business through New York Recovery Operating Partnership, L.P.

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