MFA Financial (NYSE:MFA) Stock Price Target Cut by Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its MFA Financial price target to $7 from $10, maintaining a “sector perform” rating; the new target implies 22.27% upside from the prior close.
• Analyst sentiment is mixed: MarketBeat reports a consensus “Hold” rating and an average price target of $9.29.
• MFA shares fell 2% to $5.72, near their one-year low, and the REIT’s latest quarterly EPS of $0.26 missed the $0.29 consensus estimate.

MFA Financial (NYSE:MFA - Get Free Report) had its price target dropped by Royal Bank Of Canada from $10.00 to $7.00 in a report released on Thursday, Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price target suggests a potential upside of 22.27% from the stock's previous close.

A number of other analysts have also issued reports on MFA. William Blair set a $11.00 target price on MFA Financial in a report on Tuesday, August 4th. Citizens Jmp reduced their price target on MFA Financial from $11.00 to $8.00 and set a "market outperform" rating for the company in a research report on Thursday, October 15th. Weiss Ratings lowered shares of MFA Financial from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 9th. Citigroup restated a "market outperform" rating on shares of MFA Financial in a report on Thursday, October 15th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $9.50 price target (down from $10.50) on shares of MFA Financial in a research report on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, MFA Financial has a consensus rating of "Hold" and an average price target of $9.29.

MFA Financial Stock Down 2.0%

MFA Financial stock traded down $0.12 during trading hours on Thursday, hitting $5.72. 295,492 shares of the company traded hands, compared to its average volume of 1,699,868. The firm's 50-day simple moving average is $7.41 and its two-hundred day simple moving average is $9.05. The firm has a market cap of $578.51 million, a P/E ratio of -10.62 and a beta of 1.51. MFA Financial has a 1-year low of $5.64 and a 1-year high of $10.43.

MFA Financial (NYSE:MFA - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.03). MFA Financial had a negative net margin of 1.48% and a positive return on equity of 9.82%. The company had revenue of ($84.47) million for the quarter, compared to analyst estimates of $59.52 million.

Hedge Funds Weigh In On MFA Financial

A number of large investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in MFA Financial by 2.9% during the 3rd quarter. State Street Corp now owns 2,652,180 shares of the real estate investment trust's stock valued at $20,820,000 after purchasing an additional 75,190 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in MFA Financial in the third quarter worth $295,000. Independent Advisor Alliance increased its stake in MFA Financial by 3.1% during the 3rd quarter. Independent Advisor Alliance now owns 240,408 shares of the real estate investment trust's stock valued at $1,885,000 after purchasing an additional 7,299 shares in the last quarter. Russell Investments Group Ltd. lifted its position in MFA Financial by 5.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 122,620 shares of the real estate investment trust's stock valued at $963,000 after acquiring an additional 5,802 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in MFA Financial in the 3rd quarter worth about $83,000. 65.28% of the stock is currently owned by institutional investors and hedge funds.

MFA Financial Company Profile

MFA Financial, Inc. is a real estate investment trust focused on residential mortgage assets. The company invests in mortgage-backed securities and residential mortgage loans, including loans that it acquires or originates. Its portfolio includes agency and non-agency mortgage-backed securities, as well as whole loans secured by residential properties. Through its subsidiary Lima One Capital, MFA also provides financing to real estate investors, including loans for property renovation and rental housing.

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