Sorin Capital Management Llc decreased its stake in New York Reit Inc (NYRT) by 57.5% based on its latest 2016Q3 regulatory filing with the SEC. Sorin Capital Management Llc sold 3.10M shares as the company’s stock declined 1.93% while stock markets rallied. The institutional investor held 2.29 million shares of the consumer services company at the end of 2016Q3, valued at $26.17 million, down from 5.39M at the end of the previous reported quarter. Sorin Capital Management Llc who had been investing in New York Reit Inc for a number of months, seems to be less bullish one the $1.64 billion market cap company. The stock is down 0.05% or $0.01 after the negative news, hitting $9.82 per share. About 2.00 million shares traded hands. New York REIT Inc (NYSE:NYRT) has risen 4.57% since June 7, 2016 and is uptrending. It has underperformed by 2.85% the S&P500.
Sorin Capital Management Llc is a Connecticut-based institutional investor with more than $829.38 million AUM in November, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Sorin Capital Management latest Adv, the fund reported to have 15 full and part-time employees. Among which 8 performing investment advisory and research functions. The institutional investor had between 1-10 clients.
Analysts await New York REIT Inc (NYSE:NYRT) to report earnings on February, 24. They expect $0.10 earnings per share, up 25.00% or $0.02 from last year’s $0.08 per share. NYRT’s profit will be $16.70M for 24.55 P/E if the $0.10 EPS becomes a reality. After $0.09 actual earnings per share reported by New York REIT Inc for the previous quarter, Wall Street now forecasts 11.11% EPS growth.
More notable recent New York REIT Inc (NYSE:NYRT) news were published by: Prnewswire.com which released: “New York REIT Completes $760 Million Financing” on December 21, 2016, also Prnewswire.com with their article: “New York REIT Appoints Winthrop As New External Advisor” published on December 19, 2016, Prnewswire.com published: “New York REIT Announces Stockholder Approval Of Plan Of Liquidation” on January 04, 2017. More interesting news about New York REIT Inc (NYSE:NYRT) were released by: Streetinsider.com and their article: “Form 8-K/A New York REIT, Inc. For: Dec 30” published on January 04, 2017 as well as Streetinsider.com‘s news article titled: “Form 4 New York REIT, Inc. For: Jan 09 Filed by: Portia Sue Perrotty” with publication date: January 10, 2017.
According to Zacks Investment Research, “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.”
New York REIT Inc (NYSE:NYRT) Ratings Coverage
Out of 4 analysts covering New York REIT (NYSE:NYRT), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. New York REIT has been the topic of 6 analyst reports since October 9, 2015 according to StockzIntelligence Inc. The rating was upgraded by Evercore on Monday, November 16 to “Buy”. On Friday, October 30 the stock rating was initiated by Compass Point with “Buy”. The stock has “Buy” rating given by Compass Point on Thursday, June 30. The stock has “Mkt Outperform” rating given by JMP Securities on Friday, October 9.
NYRT Company Profile
New York REIT, Inc., incorporated on October 6, 2009, is a real estate investment trust. The Firm focuses on acquiring and owning office and retail properties in Manhattan. The Company’s business is primarily conducted through New York Recovery Operating Partnership, L.P. The Firm owns approximately 20 properties in New York City, which aggregate approximately 3.4 million rentable square feet.
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