Royal Bank of Canada Initiates Coverage on MFA FINL INC/SH (NYSE:MFA)

Royal Bank of Canada started coverage on shares of MFA FINL INC/SH (NYSE:MFA) in a report issued on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $8.00 target price on the real estate investment trust’s stock.

Separately, Zacks Investment Research raised shares of MFA FINL INC/SH from a hold rating to a buy rating and set a $8.50 price target for the company in a research note on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $8.00.

Shares of MFA FINL INC/SH stock traded up $0.10 on Wednesday, hitting $7.42. 2,032,697 shares of the company traded hands, compared to its average volume of 2,275,008. The stock’s 50 day moving average price is $7.32 and its 200-day moving average price is $7.29. MFA FINL INC/SH has a 52 week low of $6.40 and a 52 week high of $7.66. The company has a market cap of $3.30 billion, a PE ratio of 10.91 and a beta of 0.52.

MFA FINL INC/SH (NYSE:MFA) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. MFA FINL INC/SH had a net margin of 61.54% and a return on equity of 9.39%. The firm had revenue of $59.89 million during the quarter, compared to the consensus estimate of $67.90 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. On average, analysts forecast that MFA FINL INC/SH will post 0.76 EPS for the current fiscal year.

The business also recently declared a — dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.20 per share. This represents a dividend yield of 10.8%. The ex-dividend date is Friday, September 27th. MFA FINL INC/SH’s dividend payout ratio is presently 117.65%.

Several institutional investors have recently bought and sold shares of MFA. Capital Investment Advisory Services LLC raised its stake in shares of MFA FINL INC/SH by 72.2% during the second quarter. Capital Investment Advisory Services LLC now owns 3,745 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,570 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in MFA FINL INC/SH in the second quarter worth approximately $72,000. Claraphi Advisory Network LLC bought a new position in MFA FINL INC/SH in the second quarter worth approximately $80,000. CENTRAL TRUST Co raised its stake in MFA FINL INC/SH by 800.0% in the second quarter. CENTRAL TRUST Co now owns 11,250 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 10,000 shares in the last quarter. Finally, Ameritas Investment Corp bought a new position in MFA FINL INC/SH in the second quarter worth approximately $86,000. 80.10% of the stock is owned by hedge funds and other institutional investors.

About MFA FINL INC/SH

MFA Financial, Inc, through 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, residential whole loans, credit risk transfer securities, and mortgage servicing rights related assets.

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