Royal Bank of Canada cuts MFA Financial (NYSE:MFA) price target to $10.00

MFA Financial (NYSE: MFA – Get a rating) had its price target lowered by the Royal Bank of Canada from $13.00 to $10.00 in a research note released on Wednesday, Fly reports. Royal Bank of Canada’s price target would suggest a potential upside of 17.10% from the company’s current price.

The MFA has been the subject of a number of other reports. JMP Securities cut its price target on MFA Financial shares from $18.00 to $15.00 and set a “market outperformance” rating for the company in a Tuesday, June 14 report. Keefe, Bruyette & Woods downgraded MFA Financial shares from an “outperforming” rating to a “market performing” rating and set a price target of $12.75 for the company. in a report on Monday July 18. TheStreet downgraded shares of MFA Financial from a “c-” rating to a “d+” rating in a report on Friday, July 1. Raymond James cut his price target on MFA Financial shares from $17.00 to $15.50 and set an “outperform” rating for the company in a Monday, Aug. 15, report. To finish, StockNews.com downgraded shares of MFA Financial from a “hold” rating to a “sell” rating in a Monday, August 8, report. One analyst gave the stock a sell rating, three gave the company a hold rating and two gave the company a buy rating. According to MarketBeat, MFA Financial has a consensus rating of “Hold” and a consensus target price of $13.65.

Performance of AMF financial prices

Shares of MFA Financial opened at $8.54 on Wednesday. MFA Financial has a fifty-two week low of $7.40 and a fifty-two week high of $19.06. The company has a fifty-day moving average price of $11.01 and a two-hundred-day moving average price of $12.49. The company has a market capitalization of $869.37 million, a PE ratio of -16.42 and a beta of 1.75.

Insider Activity at MFA Financial

In other news, CEO Craig L. Knutson bought 2,471 shares of the company in a deal 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. As a result of the acquisition, the CEO now directly owns 349,682 shares of the company, valued at approximately $3,780,062.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. In other news, CEO Craig L. Knutson bought 2,471 shares of the company in a deal 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. As a result of the acquisition, the CEO now directly owns 349,682 shares of the company, valued at approximately $3,780,062.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Robin Josephs purchased 2,350 shares of the company in a trade that took place on Wednesday, September 14. The shares were purchased at an average cost of $10.67 per share, with a total value of $25,074.50. Following the completion of the acquisition, 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 bought 10,096 shares of the company valued at $108,606 in the past ninety days. Insiders own 0.63% of the shares of the company.

Institutional investors weigh in on MFA Financial

Several hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. State Street Corp increased its position in MFA Financial by 9.0% in the 1st quarter. State Street Corp now owns 10,109,396 shares of the real estate investment trust valued at $41,770,000 after acquiring an additional 835,717 shares in the last quarter. Geode Capital Management LLC increased its position in MFA Financial by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 7,137,117 shares of the real estate investment trust worth $32,545,000 after acquiring an additional 404,324 shares last quarter. Charles Schwab Investment Management Inc. increased its position in MFA Financial by 2.5% in Q1. Charles Schwab Investment Management Inc. now owns 4,951,627 shares of the real estate investment trust worth $19,956,000 after acquiring an additional 122,878 shares in the last quarter. LSV Asset Management increased its position in MFA Financial by 1.3% in the 1st quarter. LSV Asset Management now owns 4,506,700 shares of the real estate investment trust valued at $18,162,000 after acquiring an additional 57,800 shares last quarter. Finally, Beach Point Capital Management LP increased its position in MFA Financial by 22.3% in the 1st quarter. Beach Point Capital Management LP now owns 3,292,055 shares of the real estate investment trust worth $13,267,000 after acquiring an additional 600,000 shares in the last quarter. Institutional investors and hedge funds own 62.15% of the company’s shares.

About MFA Financial

(Get a rating)

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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Analyst Recommendations for MFA Financial (NYSE: MFA)

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