MFA Financial (NYSE:MFA) Sets New 1-Year Low – Here’s Why

MFA Financial, Inc. (NYSE:MFA) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $8.36 and last traded at $8.3750, with a volume of 749166 shares changing hands. The stock had previously closed at $8.56.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. BTIG Research upgraded shares of MFA Financial from a “neutral” rating to a “buy” rating and set a $10.50 price target on the stock in a research report on Wednesday, June 17th. William Blair set a $11.00 price objective on shares of MFA Financial in a research report on Tuesday, August 4th. Citigroup restated a “market outperform” rating on shares of MFA Financial in a research note on Tuesday, August 4th. Citizens Jmp decreased their target price on MFA Financial from $11.50 to $11.00 and set a “market outperform” rating on the stock in a report 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 research report on Thursday, August 20th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, MFA Financial currently has an average rating of “Hold” and a consensus price target of $10.46.

MFA Financial Stock Performance

The stock has a market capitalization of $823.98 million, a P/E ratio of 8.15 and a beta of 1.41. The company’s 50-day moving average price is $8.91 and its 200 day moving average price is $9.41.

MFA Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 17.7%. The ex-dividend date is Monday, October 5th. MFA Financial’s dividend payout ratio is presently 144.00%.

Hedge Funds Weigh In On MFA Financial

Several large investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of MFA Financial by 3.0% during the second quarter. BlackRock Inc. now owns 9,459,988 shares of the real estate investment trust’s stock worth $91,667,000 after purchasing an additional 271,707 shares in the last quarter. State Street Corp lifted its holdings in MFA Financial by 6.0% in the 2nd quarter. State Street Corp now owns 2,576,990 shares of the real estate investment trust’s stock worth $25,869,000 after purchasing an additional 145,992 shares in the last quarter. Renaissance Technologies LLC boosted its stake in MFA Financial by 245.2% in the 1st quarter. Renaissance Technologies LLC now owns 777,025 shares of the real estate investment trust’s stock worth $7,444,000 after purchasing an additional 551,927 shares during the period. Bank of New York Mellon Corp boosted its stake in MFA Financial by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 537,991 shares of the real estate investment trust’s stock worth $5,213,000 after purchasing an additional 3,960 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in MFA Financial in the 2nd quarter worth approximately $3,589,000. 65.28% of the stock is currently owned by hedge funds and other institutional investors.

MFA Financial Company Profile

MFA Financial, Inc is a real estate investment trust (REIT) that focuses primarily on residential mortgage assets. The company invests in and manages a portfolio that may include agency and non-agency mortgage-backed securities, residential whole loans, mortgage servicing rights and other residential credit investments.

MFA’s investment activities are designed to provide exposure to the U.S. residential housing and mortgage markets. Through its affiliated businesses, the company also participates in residential lending, including financing for single-family rental properties and residential real estate investors.

Founded in 1997 and headquartered in New York City, MFA Financial has operated as a publicly traded mortgage REIT since its initial public offering in 1998.