MFA Financial (NYSE:MFA) Sets New 52-Week Low – Here’s Why

MFA Financial, Inc. (NYSE:MFAGet Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.80 and last traded at $8.7950, with a volume of 160006 shares changing hands. The stock had previously closed at $8.84.

Analyst Upgrades and Downgrades

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

Read Our Latest Analysis on MFA Financial

MFA Financial Trading Down 0.3%

The business has a 50 day moving average of $9.29 and a 200-day moving average of $9.61. The firm has a market capitalization of $891.11 million, a P/E ratio of 8.81 and a beta of 1.42.

MFA Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 16.3%. The ex-dividend date was Tuesday, June 30th. MFA Financial’s dividend payout ratio is 144.00%.

Institutional Investors Weigh In On MFA Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in shares of MFA Financial by 245.2% in the first quarter. Renaissance Technologies LLC now owns 777,025 shares of the real estate investment trust’s stock valued at $7,444,000 after purchasing an additional 551,927 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in MFA Financial by 9.2% during the fourth quarter. Wolverine Asset Management LLC now owns 1,653,062 shares of the real estate investment trust’s stock worth $15,390,000 after purchasing an additional 139,559 shares during the last quarter. Jennison Associates LLC acquired a new position in MFA Financial during the fourth quarter worth $678,000. Simplify Asset Management Inc. bought a new position in MFA Financial in the fourth quarter valued at $1,885,000. Finally, Ieq Capital LLC bought a new position in MFA Financial in the second quarter valued at $1,676,000. 65.28% of the stock is currently owned by institutional investors and hedge funds.

About MFA Financial

(Get Free Report)

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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