Thrivent Financial for Lutherans Sells 274,541 Shares of The Necessity Retail REIT, Inc. (NASDAQ:RTL)

Thrivent Financial for Lutherans cut its holdings in The Necessity Retail REIT, Inc. (NASDAQ:RTL – Get Rating) by 47.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 304,111 shares of the company’s stock after selling 274,541 shares during the period. Thrivent Financial for Lutherans owned 0.23% of Necessity Retail REIT worth $1,804,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RTL. WealthPlan Investment Management LLC bought a new position in Necessity Retail REIT in the third quarter worth approximately $84,000. B. Riley Wealth Advisors Inc. bought a new position in Necessity Retail REIT in the third quarter worth approximately $557,000. Kalos Management Inc. bought a new stake in shares of Necessity Retail REIT during the 3rd quarter valued at $149,000. Sunbelt Securities Inc. raised 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 valued at $1,533,000 after purchasing an additional 15,842 shares during the period. Finally, California State Teachers Retirement System bought a new stake in shares of Necessity Retail REIT during the 3rd quarter valued at $983,000. 57.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Necessity Retail REIT Stock Up 1.3 %

Shares of RTL stock opened at $4.69 on Friday. The company has a market capitalization of $629.49 million, a price-to-earnings ratio of -3.75 and a beta of 1.40. The Necessity Retail REIT, Inc. has a one year low of $4.45 and a one year high of $8.19. The company’s fifty day moving average price is $5.68 and its 200-day moving average price is $6.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.07 and a quick ratio of 0.07.

Necessity Retail REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Thursday, April 13th were given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 18.12%. This is an increase from Necessity Retail REIT’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Wednesday, April 12th. Necessity Retail REIT’s dividend payout ratio (DPR) is presently -68.00%.

About Necessity Retail REIT

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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.