MFA Financial (NYSE:MFA) Hits New 12-Month Low – Here’s Why

MFA Financial, Inc. (NYSE:MFA)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $9.88 and last traded at $9.93, with a volume of 96390 shares traded. The stock had previously closed at $10.05.

Wall Street Analysts Forecast Growth

MFA has been the subject of several recent analyst reports. Janney Montgomery Scott assumed coverage on shares of MFA Financial in a research note on Thursday, January 2nd. They set a “buy” rating and a $14.00 price objective for the company. Raymond James upped their price target on MFA Financial from $13.00 to $14.50 and gave the company an “outperform” rating in a research report on Thursday, September 19th. StockNews.com lowered MFA Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Wedbush restated an “outperform” rating and set a $15.00 target price on shares of MFA Financial in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MFA Financial presently has an average rating of “Moderate Buy” and an average target price of $14.00.

MFA Financial Price Performance

The company has a 50 day moving average of $11.02 and a two-hundred day moving average of $11.55. The company has a market capitalization of $1.01 billion, a PE ratio of 6.25 and a beta of 2.11.

MFA Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 14.10%. The ex-dividend date of this dividend is Tuesday, December 31st. MFA Financial’s dividend payout ratio (DPR) is presently 88.05%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MFA. JPMorgan Chase & Co. raised its holdings in MFA Financial by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,081,225 shares of the real estate investment trust’s stock worth $13,753,000 after acquiring an additional 23,852 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of MFA Financial by 6.7% during the third quarter. Franklin Resources Inc. now owns 448,989 shares of the real estate investment trust’s stock valued at $5,572,000 after purchasing an additional 28,382 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of MFA Financial by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,407,455 shares of the real estate investment trust’s stock worth $30,629,000 after acquiring an additional 21,331 shares during the period. Barclays PLC grew its position in MFA Financial by 902.9% in the 3rd quarter. Barclays PLC now owns 374,481 shares of the real estate investment trust’s stock worth $4,764,000 after purchasing an additional 337,142 shares during the period. Finally, Zacks Investment Management raised its stake in MFA Financial by 12.7% during the 3rd quarter. Zacks Investment Management now owns 11,377 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 1,281 shares during the last quarter. Hedge funds and other institutional investors own 65.28% of the company’s stock.

About MFA Financial

MFA Financial, Inc, together with its subsidiaries, operates as a real estate investment trust in the United States. It invests in residential mortgage securities, including non-agency mortgage-backed securities, agency MBS, and credit risk transfer securities; residential whole loans, including purchased performing loans, purchased credit deteriorated, and non-performing loans; and mortgage servicing rights related assets.