New York REIT (NYRT) : 2 brokerage houses believe that New York REIT (NYRT) is a Strong Buy at current levels. 1 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on New York REIT (NYRT). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 3 Wall Street Analysts endorse the stock as a Buy with a rating of 1.67.
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. Also, Major Brokerage house, Compass Point reinstates its ratings on New York REIT (NYSE:NYRT). According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on June 30, 2016.
New York REIT (NYSE:NYRT): The stock opened at $9.56 and touched an intraday high of $9.66 on Wednesday. During the day, the stock corrected to an intraday low of $9.5, however, the bulls stepped in and pushed the price higher to close in the green at $9.63 with a gain of 0.94% for the day. The total traded volume for the day was 1,196,920. The stock had closed at $9.54 in the previous trading session.
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.