Citizens Jmp Cuts MFA Financial (NYSE:MFA) Price Target to $11.00

MFA Financial (NYSE:MFA) had its price target reduced by Citizens Jmp from $11.50 to $11.00 in a research report released on Tuesday,Benzinga reports. They currently have a market outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on the stock. Citigroup restated a “market outperform” rating on shares of MFA Financial in a report on Tuesday. Keefe, Bruyette & Woods dropped their target price on shares of MFA Financial from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, May 6th. Royal Bank Of Canada reduced their price objective on MFA Financial from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 3rd. Weiss Ratings lowered shares of MFA Financial from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, July 6th. Finally, BTIG Research upgraded MFA Financial from a “neutral” rating to a “buy” rating and set a $10.50 target price for the company in a research note on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MFA Financial currently has a consensus rating of “Hold” and a consensus target price of $10.46.

MFA Financial Stock Down 0.2%

Shares of MFA opened at $9.04 on Tuesday. The company has a 50-day simple moving average of $9.36 and a 200-day simple moving average of $9.69. MFA Financial has a 52-week low of $8.80 and a 52-week high of $10.56. The company has a market capitalization of $918.97 million, a PE ratio of 9.04 and a beta of 1.42.

MFA Financial (NYSE:MFA) last released its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). The firm had revenue of $43.30 million during the quarter, compared to analysts’ expectations of $67.52 million. MFA Financial had a net margin of 19.38% and a return on equity of 7.55%. During the same period in the previous year, the business earned $0.29 earnings per share.

MFA Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 15.9%. The ex-dividend date of this dividend was Tuesday, June 30th. MFA Financial’s payout ratio is 165.52%.

Institutional Investors Weigh In On MFA Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in shares of MFA Financial in the 2nd quarter worth $39,000. Bank of New York Mellon Corp raised its stake in MFA Financial by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 537,991 shares of the real estate investment trust’s stock valued at $5,213,000 after purchasing an additional 3,960 shares during the period. Russell Investments Group Ltd. lifted its stake in MFA Financial by 54.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 116,818 shares of the real estate investment trust’s stock worth $1,132,000 after acquiring an additional 41,123 shares in the last quarter. Jennison Associates LLC lifted its position in shares of MFA Financial by 44.2% in the second quarter. Jennison Associates LLC now owns 108,013 shares of the real estate investment trust’s stock worth $1,047,000 after purchasing an additional 33,084 shares in the last quarter. Finally, Longboard Asset Management LP acquired a new stake in shares of MFA Financial during the 2nd quarter valued at $108,000. Institutional investors own 65.28% of the company’s stock.

About MFA Financial

MFA Financial, Inc, headquartered in New York City, is a real estate investment trust that specializes in investing in residential mortgage loans and mortgage-related securities. The company’s primary objective is to generate attractive risk-adjusted returns through net interest income and capital appreciation. As a mortgage REIT, MFA Financial focuses on constructing a diversified portfolio of agency and non-agency residential mortgage assets, leveraging its expertise in acquiring, financing and servicing mortgage products.

MFA Financial’s investment portfolio encompasses a wide range of mortgage instruments, including adjustable-rate and fixed-rate mortgage loans, interest-only securities, and agency mortgage-backed securities guaranteed by government-sponsored entities.