Could New York REIT, Inc. (NYRT) Change Direction After Making All-Time High?

March 18, 2018 - By Ellis Scott

The stock of New York REIT, Inc. (NYSE:NYRT) reached all time high today, Mar, 18 and still has $23.31 target or 4.00 % above today’s $22.41 share price. This indicates more upside for the $3.78 billion company. This technical setup was reported by If the $23.31 PT is reached, the company will be worth $151.28M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 0.95% or $0.21 during the last trading session, reaching $22.41. About 303,635 shares traded or 40.47% up from the average. New York REIT, Inc. (NYSE:NYRT) has declined 9.21% since March 18, 2017 and is downtrending. It has underperformed by 25.91% the S&P500.

New York REIT, Inc. (NYSE:NYRT) Ratings Coverage

Among 5 analysts covering New York REIT (NYSE:NYRT), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. New York REIT had 9 analyst reports since October 9, 2015 according to SRatingsIntel. The stock has “Buy” rating by Evercore on Monday, November 16. SunTrust maintained it with “Hold” rating and $6.5 target in Friday, December 1 report. The firm has “Hold” rating given on Friday, November 3 by SunTrust. The firm earned “Buy” rating on Thursday, June 30 by Compass Point. The rating was upgraded by JMP Securities on Friday, October 9 to “Mkt Outperform”. The stock of New York REIT, Inc. (NYSE:NYRT) has “Buy” rating given on Friday, October 30 by Compass Point. The stock of New York REIT, Inc. (NYSE:NYRT) earned “Hold” rating by SunTrust on Wednesday, January 31.

More recent New York REIT, Inc. (NYSE:NYRT) news were published by: which released: “New York REIT, Inc. Announces 1-for-10 Reverse Stock Split” on March 05, 2018. Also published the news titled: “New York REIT, Inc. Closes On Previously Announced Sales Of Its 306 East 61st …” on February 20, 2018.‘s news article titled: “New York REIT, Inc. Announces Completion of 1-for-10 Reverse Stock Split” with publication date: March 15, 2018 was also an interesting one.

New York REIT, Inc. focuses on acquiring commercial real estate, as well as acquiring properties or making other real estate investments that relate to office, retail, multi-family residential, industrial, and hotel property types located primarily in New York City. The company has market cap of $3.78 billion. It intends to qualify as a real estate investment trust for the U.S. federal income tax purposes. It currently has negative earnings. The firm was formerly known as American Realty Capital New York Recovery REIT, Inc.

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