Brokerages Set MFA Financial, Inc. (NYSE:MFA) Price Target at $13.70

Shares of MFA Financial, Inc. (NYSE:MFA) have received an average rating of “Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.70.

MFA has been the topic of several analyst reports. JMP Securities lowered their target price on MFA Financial from $13.50 to $12.50 and set a “market outperform” rating on the stock in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their target price on MFA Financial from $13.50 to $12.50 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. StockNews.com upgraded MFA Financial from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Janney Montgomery Scott initiated coverage on MFA Financial in a research report on Thursday, January 2nd. They issued a “buy” rating and a $14.00 price objective on the stock.

MFA Financial Price Performance

Shares of MFA opened at $10.86 on Tuesday. The firm has a market capitalization of $1.11 billion, a P/E ratio of 13.40 and a beta of 2.18. The business has a fifty day moving average of $10.49 and a 200 day moving average of $11.21. MFA Financial has a one year low of $9.36 and a one year high of $13.45.

MFA Financial (NYSE:MFA) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $50.80 million for the quarter, compared to analysts’ expectations of $58.06 million. MFA Financial had a net margin of 16.47% and a return on equity of 9.61%. Analysts expect that MFA Financial will post 1.5 EPS for the current fiscal year.

MFA Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.36 dividend. This is an increase from MFA Financial’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.27%. The ex-dividend date is Monday, March 31st. MFA Financial’s payout ratio is currently 177.78%.

Institutional Investors Weigh In On MFA Financial

Hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in shares of MFA Financial in the third quarter worth about $25,000. National Bank of Canada FI purchased a new stake in shares of MFA Financial in the fourth quarter worth about $27,000. Sterling Capital Management LLC lifted its position in shares of MFA Financial by 823.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,278 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,923 shares in the last quarter. Quarry LP purchased a new stake in shares of MFA Financial in the fourth quarter worth about $36,000. Finally, Parkside Financial Bank & Trust purchased a new stake in shares of MFA Financial in the fourth quarter worth about $46,000. 65.28% of the stock is currently owned by hedge funds and other institutional investors.

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.