Beck Capital Management LLC decreased its position in The Necessity Retail REIT, Inc. (NASDAQ:RTL – Free Report) by 1.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,169,975 shares of the company’s stock after selling 20,113 shares during the period. Necessity Retail REIT comprises 3.1% of Beck Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Beck Capital Management LLC owned approximately 0.87% of Necessity Retail REIT worth $7,347,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTL. CoreCap Advisors LLC purchased a new position in Necessity Retail REIT in the fourth quarter valued at $25,000. Spire Wealth Management grew its position in shares of Necessity Retail REIT by 1,532.8% in the first quarter. Spire Wealth Management now owns 4,376 shares of the company’s stock valued at $27,000 after purchasing an additional 4,108 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Necessity Retail REIT by 83.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,756 shares of the company’s stock valued at $29,000 after purchasing an additional 2,161 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Necessity Retail REIT in the first quarter valued at about $29,000. Finally, Townsquare Capital LLC acquired a new stake in shares of Necessity Retail REIT in the fourth quarter valued at about $62,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, B. Riley dropped their target price on shares of Necessity Retail REIT from $10.00 to $8.00 in a research report on Monday, May 15th.
Necessity Retail REIT Price Performance
Shares of NASDAQ RTL traded up $0.12 during trading on Friday, hitting $7.53. The company had a trading volume of 6,407,776 shares, compared to its average volume of 1,048,427. The stock has a fifty day simple moving average of $7.18 and a two-hundred day simple moving average of $6.48. The Necessity Retail REIT, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $7.63. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.17, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.75.
Necessity Retail REIT Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Thursday, July 13th were given a dividend of $0.213 per share. The ex-dividend date was Wednesday, July 12th. This is a positive change from Necessity Retail REIT’s previous quarterly dividend of $0.21. This represents a $0.85 dividend on an annualized basis and a yield of 11.31%. Necessity Retail REIT’s payout ratio is presently -69.67%.
Necessity Retail REIT Company Profile
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.
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