Royal Bank of Canada reiterated their buy rating on shares of MFA Financial, Inc. (NYSE:MFA) in a research report released on Friday, May 5th. They currently have a $9.00 price objective on the real estate investment trust’s stock.
A number of other brokerages have also commented on MFA. Zacks Investment Research raised MFA Financial from a sell rating to a hold rating in a research report on Wednesday, April 26th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $8.00 target price on shares of MFA Financial in a research report on Thursday, April 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $7.97.
Shares of MFA Financial (NYSE:MFA) remained flat at $8.12 during midday trading on Friday. 1,969,293 shares of the stock traded hands. The stock has a 50 day moving average price of $8.15 and a 200 day moving average price of $7.91. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 10.19 and a beta of 0.60. MFA Financial has a 52 week low of $6.83 and a 52 week high of $8.52.
MFA Financial (NYSE:MFA) last announced its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $66.91 million for the quarter, compared to the consensus estimate of $65.97 million. MFA Financial had a return on equity of 10.62% and a net margin of 65.46%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. Equities research analysts anticipate that MFA Financial will post $0.75 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Wednesday, March 29th were paid a $0.20 dividend. The ex-dividend date was Monday, March 27th. This represents a $0.80 dividend on an annualized basis and a yield of 9.85%. MFA Financial’s dividend payout ratio is presently 101.27%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in MFA Financial by 13,441.2% in the first quarter. BlackRock Inc. now owns 23,434,017 shares of the real estate investment trust’s stock worth $189,346,000 after buying an additional 23,260,960 shares in the last quarter. Karp Capital Management Corp purchased a new position in MFA Financial during the first quarter worth approximately $29,455,000. Norges Bank purchased a new position in MFA Financial during the fourth quarter worth approximately $27,345,000. Vanguard Group Inc. boosted its position in MFA Financial by 5.3% in the first quarter. Vanguard Group Inc. now owns 29,874,948 shares of the real estate investment trust’s stock worth $241,389,000 after buying an additional 1,498,013 shares in the last quarter. Finally, First Quadrant L P CA purchased a new position in MFA Financial during the first quarter worth approximately $7,832,000. 84.26% of the stock is currently owned by institutional investors and hedge funds.
About MFA Financial
MFA Financial, Inc is engaged in the real estate finance business. The Company’s subsidiaries invest in residential mortgage assets, including Non-Agency mortgage-backed securities (MBS), Agency MBS, residential whole loans and credit risk transfer (CRT) securities. The Company’s Non-Agency MBS portfolio primarily consists of Legacy Non-Agency MBS and 3 Year Step-up securities.
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