Necessity Retail REIT (NASDAQ:RTL) Sets New 1-Year Low Following Analyst Downgrade

Posted by on May 17th, 2023

Shares of The Necessity Retail REIT, Inc. (NASDAQ:RTL – Get Rating) reached a new 52-week low during mid-day trading on Tuesday after B. Riley lowered their price target on the stock from $10.00 to $8.00. The stock traded as low as $4.51 and last traded at $4.54, with a volume of 61027 shares changing hands. The stock had previously closed at $4.60.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. WealthPlan Investment Management LLC bought a new stake in Necessity Retail REIT in the third quarter valued at $84,000. B. Riley Wealth Advisors Inc. bought a new position in Necessity Retail REIT in the third quarter valued at approximately $557,000. Kalos Management Inc. acquired a new stake in shares of Necessity Retail REIT during the third quarter worth $149,000. Sunbelt Securities Inc. grew its position in shares of Necessity Retail REIT by 6.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 260,715 shares of the company’s stock worth $1,533,000 after buying an additional 15,842 shares during the period. Finally, California State Teachers Retirement System bought a new stake in Necessity Retail REIT in the third quarter valued at approximately $983,000. Institutional investors and hedge funds own 57.04% of the company’s stock.

Necessity Retail REIT Price Performance

The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $5.80 and a 200 day moving average of $6.26. The firm has a market cap of $602.67 million, a price-to-earnings ratio of -3.59 and a beta of 1.40.

Necessity Retail REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Thursday, April 13th were given a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 18.93%. 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. Necessity Retail REIT’s payout ratio is currently -68.00%.

Necessity Retail REIT Company Profile

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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.

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