Compass Point Reinstates New York REIT Inc to Buy

Brokerage firm Compass Point Reinstates its rating on New York REIT Inc(NYSE:NYRT). The shares have been rated Buy. The rating by Compass Point was issued on Jun 30, 2016.

New York REIT Inc (NYRT) shares turned negative on Tuesdays trading session with the shares closing down -0.03 points or -0.32% at a volume of 4,83,549. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.37. The peak price level was also seen at $9.37 while the days lowest was $9.21. Finally the shares closed at $9.3. The 52-week high of the shares is $11.9 while the 52-week low is $8.79. According to the latest information available, the market cap of the company is $1,535 M.

New York REIT Inc(NYRT) last announced its earnings results on May 10, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $36.71M. Analysts had an estimated revenue of $40.05M. Earnings per share were $0.11. Analysts had estimated an EPS of $0.09.

Several Insider Transactions has been reported to the SEC. On Nov 10, 2015, Marc J Rowan (director) purchased 99,418 shares at $10.60 per share price.Also, On May 27, 2015, Michael A. Happel (CEO) purchased 23,000 shares at $9.04 per share price.

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 Company’s 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 Company’s 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 Company’s 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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