New York REIT (NYRT) Downgraded by ValuEngine to Hold

New York REIT (NYSE:NYRT) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Saturday, March 17th.

Several other equities research analysts have also issued reports on the company. Zacks Investment Research lowered New York REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. SunTrust Banks set a $70.00 price target on New York REIT and gave the stock a “hold” rating in a research note on Friday, December 1st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $61.75.

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NYRT stock traded up $0.13 during mid-day trading on Friday, hitting $21.80. 84,932 shares of the stock were exchanged, compared to its average volume of 202,366. The company has a quick ratio of 23.15, a current ratio of 23.15 and a debt-to-equity ratio of 0.26. New York REIT has a 12 month low of $19.30 and a 12 month high of $97.50. The firm has a market cap of $362.39, a P/E ratio of 6.78 and a beta of 0.52.

A number of hedge funds have recently modified their holdings of the business. Swiss National Bank lifted its stake in shares of 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 acquiring an additional 8,000 shares during the last quarter. Northern Trust Corp lifted its stake in shares of 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 acquiring an additional 8,783 shares during the last quarter. First Allied Advisory Services Inc. lifted its stake in shares of 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 acquiring an additional 9,201 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of New York REIT by 55.0% in the 2nd quarter. Royal Bank of Canada now owns 28,430 shares of the real estate investment trust’s stock valued at $246,000 after acquiring an additional 10,091 shares during the last quarter. Finally, Commonwealth Equity Services Inc lifted its stake in shares of New York REIT by 14.1% in the 3rd quarter. Commonwealth Equity Services Inc now owns 94,967 shares of the real estate investment trust’s stock valued at $745,000 after acquiring an additional 11,757 shares during the last quarter.

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About New York REIT

NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties, located in New York City. NYRT's shareholders recently adopted a plan of liquidation pursuant to which NYRT is liquidating and winding down and, in connection therewith, is seeking to sell its assets in an orderly fashion to maximize shareholder value.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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