MFA Financial (NYSE:MFA) Hits New 12-Month Low - What's Next?

Key Points

• MFA Financial shares fell to a new 12-month low of $8.60, below the previous close of $8.75. The stock’s 50-day and 200-day moving averages are $9.13 and $9.54, respectively.
• Analyst sentiment remains generally positive, with an overall “Moderate Buy” rating and an average price target of $10.46, despite some target-price reductions and a recent upgrade from Weiss Ratings to “Hold.”
• Institutional ownership stands at 65.28%, with several hedge funds adding or initiating positions during the second quarter, while MFA continues to operate as a mortgage REIT focused on residential mortgage loans and related securities.

MFA Financial, Inc. (NYSE:MFA - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $8.60 and last traded at $8.5850, with a volume of 149637 shares changing hands. The stock had previously closed at $8.75.

Analyst Ratings Changes

MFA has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of MFA Financial from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, August 13th. Citizens Jmp reduced their price objective on shares of MFA Financial from $11.50 to $11.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 4th. Royal Bank Of Canada restated a "sector perform" rating and set a $10.00 target price on shares of MFA Financial in a report on Thursday, August 20th. William Blair set a $11.00 target price on MFA Financial in a research report on Tuesday, August 4th. Finally, BTIG Research upgraded MFA Financial from a "neutral" rating to a "buy" rating and set a $10.50 price target on the stock in a report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MFA Financial presently has an average rating of "Moderate Buy" and an average price target of $10.46.

MFA Financial Stock Performance

The firm has a fifty day moving average price of $9.13 and a 200 day moving average price of $9.54. The stock has a market cap of $869.58 million, a PE ratio of 8.61 and a beta of 1.41.

Hedge Funds Weigh In On MFA Financial

Hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd purchased a new position in shares of MFA Financial in the 2nd quarter valued at approximately $226,000. Integrated Wealth Concepts LLC purchased a new stake in MFA Financial during the 2nd quarter worth approximately $26,000. Corient Private Wealth LP increased its stake in MFA Financial by 60.1% during the 2nd quarter. Corient Private Wealth LP now owns 172,669 shares of the real estate investment trust's stock valued at $1,679,000 after purchasing an additional 64,845 shares in the last quarter. Amundi acquired a new position in MFA Financial during the 2nd quarter valued at approximately $130,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of MFA Financial in the second quarter worth $1,135,000. Institutional investors and hedge funds own 65.28% of the company's stock.

MFA Financial Company Profile

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.

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