MFA Financial, Inc. (NYSE: MFA – Get a rating) fell before the market opened on Wednesday after Royal Bank of Canada lowered its price target on the stock from $13.00 to $10.00. The stock had previously closed at $8.54, but opened at $8.17. MFA Financial shares last traded at $7.99, with volume at 20,844 shares.
The AMF has been the subject of several other reports. Keefe, Bruyette & Woods downgraded MFA Financial from an “outperforming” rating to a “market performing” rating and set a target price of $12.75 for the company. in a Monday July 18 research note. Credit Suisse Group lowered its price target on MFA Financial shares to $15.00 in a Friday, July 22 research report. Raymond James lowered his price target on MFA Financial shares from $17.00 to $15.50 and set an “outperform” rating on the stock in a Monday, August 15 report. JMP Securities lowered its price target on MFA Financial from $18.00 to $15.00 and set a “market outperformance” rating on the stock in a Tuesday, June 14 research note. To finish, StockNews.com upgraded MFA Financial from a “hold” rating to a “sell” rating in a Monday, August 8 research report. One research analyst rated the stock with a sell rating, three gave a hold rating and two issued a buy rating for the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.65.
Insider Buying and Selling at MFA Financial
Separately, CEO Craig L. Knutson purchased 2,471 shares in a trade dated Wednesday, September 14. The stock was purchased at an average price of $10.81 per share, for a total transaction of $26,711.51. Following the completion of the acquisition, the CEO now owns 349,682 shares of the company, valued at $3,780,062.42. The transaction was disclosed in a document filed with the SEC, accessible via this link. Separately, CEO Craig L. Knutson acquired 2,471 shares of the company in a transaction that took place on Wednesday, September 14. The shares were purchased at an average cost of $10.81 per share, with a total value of $26,711.51. Following the completion of the purchase, the CEO now directly owns 349,682 shares of the company, valued at $3,780,062.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. Additionally, director Robin Josephs acquired 2,350 shares of the company in a transaction dated Wednesday, September 14. The shares were acquired at an average cost of $10.67 per share, for a total transaction of $25,074.50. Following the completion of the purchase, the administrator now directly owns 28,828 shares of the company, valued at $307,594.76. Disclosure of this purchase can be found here. Insiders purchased a total of 10,096 shares of the company worth $108,606 over the past three months. Company insiders own 0.63% of the company’s shares.
Hedge funds weigh on MFA Financial
A number of hedge funds and other institutional investors have recently changed their AMF holdings. State Street Corp increased its position in MFA Financial shares by 9.0% in the first quarter. State Street Corp now owns 10,109,396 shares of the REIT valued at $41,770,000 after acquiring an additional 835,717 shares during the period. Geode Capital Management LLC increased its position in MFA Financial shares by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 7,137,117 shares of the real estate investment trust worth $32,545,000 after purchasing an additional 404,324 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in MFA Financial by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,951,627 shares of the real estate investment trust worth $19,956,000 after purchasing an additional 122,878 shares last quarter. LSV Asset Management increased its stake in MFA Financial by 1.3% in the first quarter. LSV Asset Management now owns 4,506,700 shares of the real estate investment trust valued at $18,162,000 after purchasing an additional 57,800 shares last quarter. Finally, Beach Point Capital Management LP increased its position in MFA Financial by 22.3% during the first quarter. Beach Point Capital Management LP now owns 3,292,055 shares of the real estate investment trust worth $13,267,000 after purchasing an additional 600,000 shares in the last quarter. Hedge funds and other institutional investors own 62.15% of the company’s shares.
MFA financial stock down 6.4%
The company’s 50-day moving average is $11.01 and its 200-day moving average is $12.49. The company has a market capitalization of $813.38 million, a PE ratio of -16.42 and a beta of 1.75.
MFA Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31. Shareholders of record on Friday, September 30 will receive a dividend of $0.44. The ex-dividend date is Thursday, September 29. This represents a dividend of $1.76 on an annualized basis and a yield of 22.03%. MFA Financial’s dividend payout ratio (DPR) is currently -338.46%.
MFA Financial Company Profile
MFA Financial, Inc, together with its subsidiaries, operates as a real estate investment trust (REIT) in the United States. The Company invests in residential mortgage assets, including non-agency mortgage-backed securities (MBS), agency MBS and credit risk transfer securities; entire residential loans, including purchased performing loans, deteriorated purchased loans and non-performing loans; and mortgage servicing rights assets.
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