B. Riley Lowers New York City REIT (NYSE:NYC) Price Target to $5.50

New York City REIT (NYSE:NYCGet Rating) had its price target cut by B. Riley from $7.00 to $5.50 in a research report report published on Monday morning, The Fly reports.

New York City REIT Trading Down 7.0 %

New York City REIT stock opened at $2.45 on Monday. The business has a 50-day moving average of $3.28 and a 200-day moving average of $4.74. New York City REIT has a 1 year low of $2.34 and a 1 year high of $13.75. The firm has a market capitalization of $33.84 million, a P/E ratio of -0.88 and a beta of 0.30.

Hedge Funds Weigh In On New York City REIT

Several institutional investors and hedge funds have recently modified their holdings of the business. Apollon Wealth Management LLC acquired a new position in shares of New York City REIT in the 3rd quarter valued at approximately $99,000. Global Wealth Management Investment Advisory Inc. grew its position in shares of New York City REIT by 1,819.8% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 43,618 shares of the company’s stock valued at $140,000 after purchasing an additional 41,346 shares during the period. Millennium Management LLC acquired a new position in shares of New York City REIT in the 2nd quarter valued at approximately $304,000. J.W. Cole Advisors Inc. acquired a new position in shares of New York City REIT in the 1st quarter valued at approximately $37,000. Finally, Royal Bank of Canada grew its position in shares of New York City REIT by 67.5% in the 1st quarter. Royal Bank of Canada now owns 7,115 shares of the company’s stock valued at $94,000 after purchasing an additional 2,867 shares during the period. 27.89% of the stock is currently owned by institutional investors and hedge funds.

New York City REIT Company Profile

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New York City REIT, Inc (NYSE: NYC) is a publicly traded real estate investment trust listed on the NYSE that owns a portfolio of high-quality commercial real estate located within the five boroughs of New York City.

Further Reading

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