Beach Point Capital Management LP reduced its position in shares of MFA Financial, Inc. (NYSE:MFA – Get Rating) by 64.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,159,275 shares of the real estate investment trust's stock after selling 2,132,780 shares during the period. MFA Financial makes up about 2.6% of Beach Point Capital Management LP's investment portfolio, making the stock its 9th largest position. Beach Point Capital Management LP owned approximately 1.13% of MFA Financial worth $12,462,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Ieq Capital LLC purchased a new position in MFA Financial in the 1st quarter worth about $42,000. XML Financial LLC purchased a new position in MFA Financial in the 1st quarter worth about $43,000. Allworth Financial LP purchased a new position in MFA Financial in the 2nd quarter worth about $47,000. Guggenheim Capital LLC purchased a new position in MFA Financial in the 1st quarter worth about $48,000. Finally, CTC Capital Management LLC purchased a new position in MFA Financial in the 1st quarter worth about $50,000. 62.15% of the stock is owned by institutional investors and hedge funds.
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Insider Activity
In other news, SVP Bryan Wulfsohn purchased 3,000 shares of MFA Financial stock in a transaction dated Thursday, September 15th. The stock was acquired at an average cost of $10.75 per share, for a total transaction of $32,250.00. Following the acquisition, the senior vice president now directly owns 63,350 shares in the company, valued at $681,012.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Craig L. Knutson bought 2,471 shares of MFA Financial stock in a transaction that occurred on Wednesday, September 14th. The stock was purchased at an average cost of $10.81 per share, for a total transaction of $26,711.51. Following the acquisition, the chief executive officer now owns 349,682 shares in the company, valued at $3,780,062.42. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Bryan Wulfsohn bought 3,000 shares of MFA Financial stock in a transaction that occurred on Thursday, September 15th. The stock was bought at an average price of $10.75 per share, with a total value of $32,250.00. Following the completion of the acquisition, the senior vice president now owns 63,350 shares in the company, valued at approximately $681,012.50. The disclosure for this purchase can be found here. Insiders bought a total of 10,096 shares of company stock worth $108,606 in the last three months. 0.63% of the stock is owned by insiders.
MFA Financial Stock Performance
Shares of MFA Financial stock traded up $0.14 during trading on Wednesday, hitting $9.00. 93,400 shares of the stock traded hands, compared to its average volume of 1,523,847. The stock has a market cap of $916.11 million, a P/E ratio of -17.19 and a beta of 1.70. MFA Financial, Inc. has a twelve month low of $8.81 and a twelve month high of $19.12. The company has a fifty day moving average price of $11.33 and a two-hundred day moving average price of $12.83.
MFA Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.76 annualized dividend and a dividend yield of 19.56%. MFA Financial's dividend payout ratio is -338.46%.
Wall Street Analyst Weigh In
MFA has been the topic of a number of analyst reports. Raymond James dropped their price target on MFA Financial from $17.00 to $15.50 and set an "outperform" rating on the stock in a research note on Monday, August 15th. TheStreet cut MFA Financial from a "c-" rating to a "d+" rating in a research note on Friday, July 1st. Credit Suisse Group lowered their target price on MFA Financial to $15.00 in a research note on Friday, July 22nd. StockNews.com cut MFA Financial from a "hold" rating to a "sell" rating in a research note on Monday, August 8th. Finally, JMP Securities lowered their target price on MFA Financial from $18.00 to $15.00 and set a "market outperform" rating on the stock in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $14.25.
MFA Financial Company Profile
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MFA Financial, Inc, together with its subsidiaries, operates as a real estate investment trust (REIT) in the United States. The company invests in residential mortgage assets, including non-agency mortgage-backed securities (MBS), 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.
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