683 Capital Management LLC Upped Stake in New York Reit INC (NYRT)

March 14, 2018 - By Michael Collier

683 Capital Management Llc increased its stake in New York Reit Inc (NYRT) by 166.67% based on its latest 2017Q3 regulatory filing with the SEC. 683 Capital Management Llc bought 1.25 million shares as the company’s stock declined 12.85% while stock markets rallied. The hedge fund held 2.00 million shares of the consumer services company at the end of 2017Q3, valued at $15.70 million, up from 750,000 at the end of the previous reported quarter. 683 Capital Management Llc who had been investing in New York Reit Inc for a number of months, seems to be bullish on the $376.36M market cap company. The stock decreased 0.89% or $0.02 during the last trading session, reaching $2.23. About 515,787 shares traded. New York REIT, Inc. (NYSE:NYRT) has declined 9.21% since March 14, 2017 and is downtrending. It has underperformed by 25.91% the S&P500.

683 Capital Management Llc, which manages about $566.08M and $951.63M US Long portfolio, decreased its stake in Coca Cola Co (Put) (NYSE:KO) by 100,000 shares to 500,000 shares, valued at $22.51 million in 2017Q3, according to the filing. It also reduced its holding in Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) by 30,500 shares in the quarter, leaving it with 239,500 shares, and cut its stake in Select Sector Spdr Tr (Put) (XLP).

More recent New York REIT, Inc. (NYSE:NYRT) news were published by: Prnewswire.com which released: “New York REIT, Inc. Closes On Previously Announced Sales Of Its 306 East 61st …” on February 20, 2018. Also Prnewswire.com published the news titled: “New York REIT, Inc. Announces 1-for-10 Reverse Stock Split” on March 05, 2018. Seekingalpha.com‘s news article titled: “New York REIT: Private Equity Return Opportunity After The Smart Money Bailed” with publication date: March 12, 2018 was also an interesting one.

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. Compass Point initiated it with “Buy” rating and $12 target in Thursday, June 30 report. SunTrust maintained the stock with “Hold” rating in Wednesday, January 31 report. On Friday, November 3 the stock rating was maintained by SunTrust with “Hold”. SunTrust maintained New York REIT, Inc. (NYSE:NYRT) on Friday, December 1 with “Hold” rating. Compass Point initiated the stock with “Buy” rating in Friday, October 30 report. The stock has “Buy” rating by Evercore on Monday, November 16. JMP Securities upgraded the stock to “Mkt Outperform” rating in Friday, October 9 report.

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