New York REIT (NYRT) has risen sharply, recording gains of 4.74% in the past 4 weeks. However, the stock has corrected -1.29% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.67% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 2.73% and the 50-Day Moving Average is 5.56%. New York REIT (NYSE:NYRT): On Fridays trading session , Opening price of the stock was $9.99 with an intraday high of $10.02. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $9.9. However, the stock managed to close at $9.94, a loss of 0.30% for the day. On the previous day, the stock had closed at $9.97. The total traded volume of the day was 846,545 shares.
The company Insiders own 0.18% of New York REIT shares according to the proxy statements. Institutional Investors own 70.98% of New York REIT shares. Also, Compass Point reinstates their rating on the shares of New York REIT (NYSE:NYRT). The current rating of the shares is Buy. The rating by the firm was issued on June 30, 2016.
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.