New York REIT (NYRT) : Zacks Investment Research ranks New York REIT (NYRT) as 4, which is a Sell recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 3 research analysts is 1.67, which indicates as a Buy.
New York REIT (NYRT) : The consensus price target for New York REIT (NYRT) is $11.67 for the short term with a standard deviation of $1.44. The most optimist securities analyst among the 3 who monitor the stock believes that the stock can reach $13, however, the pessimist price target for the company is $10.
For the current week, the company shares have a recommendation consensus of Buy. New York REIT (NYSE:NYRT): The stock opened at $10.02 on Thursday but the bulls could not build on the opening and the stock topped out at $10.04 for the day. The stock traded down to $9.96 during the day, due to lack of any buying support eventually closed down at $9.97 with a loss of -0.70% for the day. The stock had closed at $10.04 on the previous day. The total traded volume was 1,037,548 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of New York Reit, Inc., Rowan Marc J, had purchased 99,418 shares in a transaction dated on October 6, 2015. The transaction was executed at $10.6 per share with total amount equaling $1,053,831.
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.