Short Interest in The Necessity Retail REIT, Inc. (NASDAQ:RTL) Expands By 36.3%

Posted by on Apr 27th, 2023

The Necessity Retail REIT, Inc. (NASDAQ:RTL – Get Rating) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 3,680,000 shares, an increase of 36.3% from the March 31st total of 2,700,000 shares. Based on an average daily trading volume, of 654,900 shares, the days-to-cover ratio is currently 5.6 days. Currently, 2.8% of the shares of the company are sold short.

Hedge Funds Weigh In On Necessity Retail REIT

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC grew its stake in shares of Necessity Retail REIT by 3.2% during the fourth quarter. SG Americas Securities LLC now owns 57,992 shares of the company’s stock valued at $344,000 after purchasing an additional 1,779 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Necessity Retail REIT by 2.9% in the 1st quarter. State of Alaska Department of Revenue now owns 69,207 shares of the company’s stock valued at $433,000 after purchasing an additional 1,982 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Necessity Retail REIT by 100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 4,714 shares of the company’s stock worth $28,000 after acquiring an additional 2,357 shares during the period. ProShare Advisors LLC lifted its position in Necessity Retail REIT by 16.7% in the 4th quarter. ProShare Advisors LLC now owns 17,198 shares of the company’s stock valued at $102,000 after acquiring an additional 2,464 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Necessity Retail REIT by 3.5% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 86,057 shares of the company’s stock valued at $540,000 after purchasing an additional 2,923 shares during the period. 57.04% of the stock is owned by institutional investors and hedge funds.

Necessity Retail REIT Stock Down 1.3 %

RTL stock opened at $5.25 on Thursday. The firm’s 50-day simple moving average is $6.25 and its 200 day simple moving average is $6.37. The stock has a market cap of $704.66 million, a PE ratio of -6.56 and a beta of 1.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.60. Necessity Retail REIT has a fifty-two week low of $5.22 and a fifty-two week high of $8.19.

Necessity Retail REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Thursday, April 13th were given a dividend of $0.2125 per share. The ex-dividend date of this dividend was Wednesday, April 12th. This is a positive change from Necessity Retail REIT’s previous quarterly dividend of $0.09. This represents a $0.85 dividend on an annualized basis and a yield of 16.19%. Necessity Retail REIT’s dividend payout ratio (DPR) is presently -106.25%.

About Necessity Retail REIT

(Get Rating)

Necessity Retail REIT, Inc is a real estate investment trust, which engages in the acquiring and managing a portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties. It operates through income-producing properties segment, which consists of activities related to investing in real estate.

See Also

Receive News & Ratings for Necessity Retail REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Necessity Retail REIT and related companies with MarketBeat.com's FREE daily email newsletter.