Geneos Wealth Management Inc. Trims Stock Position in The Necessity Retail REIT, Inc. (NASDAQ:RTL)

Posted by Defense World Staff on Jul 13th, 2023

Geneos Wealth Management Inc. lowered its stake in shares of The Necessity Retail REIT, Inc. (NASDAQ:RTL – Free Report) by 14.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 65,717 shares of the company’s stock after selling 11,094 shares during the period. Geneos Wealth Management Inc.’s holdings in Necessity Retail REIT were worth $413,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. ProShare Advisors LLC grew its position in shares of Necessity Retail REIT by 16.7% during 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 during the period. State of Alaska Department of Revenue grew its position in shares of Necessity Retail REIT by 2.9% during the 1st quarter. State of Alaska Department of Revenue now owns 69,207 shares of the company’s stock valued at $433,000 after acquiring an additional 1,982 shares during the period. Accurate Wealth Management LLC acquired a new stake in shares of Necessity Retail REIT during the 1st quarter valued at about $260,000. Raleigh Capital Management Inc. grew its position in shares of Necessity Retail REIT by 100.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 4,714 shares of the company’s stock valued at $28,000 after acquiring an additional 2,357 shares during the period. Finally, Sunbelt Securities Inc. grew its position in shares of Necessity Retail REIT by 2.7% during the 4th quarter. Sunbelt Securities Inc. now owns 267,670 shares of the company’s stock valued at $1,587,000 after acquiring an additional 6,955 shares during the period. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Necessity Retail REIT Trading Down 2.0 %

RTL stock opened at $7.20 on Thursday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.61. The Necessity Retail REIT, Inc. has a 12-month low of $4.45 and a 12-month high of $8.19. The stock has a market cap of $966.17 million, a price-to-earnings ratio of -5.76 and a beta of 1.38. The business’s 50-day moving average is $6.21 and its 200 day moving average is $6.26.

Necessity Retail REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Thursday, July 13th will be issued a $0.213 dividend. This represents a $0.85 annualized dividend and a yield of 11.83%. This is a boost from Necessity Retail REIT’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, July 12th. Necessity Retail REIT’s payout ratio is presently -68.00%.

Analysts Set New Price Targets

Separately, B. Riley dropped their target price on Necessity Retail REIT from $10.00 to $8.00 in a research report on Monday, May 15th.

Necessity Retail REIT Company Profile

(Free Report)

The Necessity Retail REIT (Nasdaq: RTL) is the preeminent publicly traded real estate investment trust (REIT) focused on "Where America Shops". RTL acquires and manages a diversified portfolio of primarily necessity-based retail single-tenant and open-air shopping center properties in the U.S.