Van ECK Associates Corp Purchases 6,155 Shares of The Necessity Retail REIT, Inc. (NASDAQ:RTL)

Van ECK Associates Corp raised its position in The Necessity Retail REIT, Inc. (NASDAQ:RTL – Get Rating) by 79.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,858 shares of the company’s stock after buying an additional 6,155 shares during the quarter. Van ECK Associates Corp’s holdings in Necessity Retail REIT were worth $82,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. WealthPlan Investment Management LLC acquired a new stake in shares of Necessity Retail REIT in the 3rd quarter valued at approximately $84,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Necessity Retail REIT in the 3rd quarter valued at approximately $557,000. Kalos Management Inc. acquired a new stake in shares of Necessity Retail REIT in the 3rd quarter valued at approximately $149,000. Sunbelt Securities Inc. boosted its stake in shares of Necessity Retail REIT by 6.5% in 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 in the last quarter. Finally, California State Teachers Retirement System acquired a new stake in Necessity Retail REIT during the 3rd quarter worth approximately $983,000. 57.04% of the stock is owned by institutional investors.

Necessity Retail REIT Stock Performance

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

Necessity Retail REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Thursday, April 13th were paid a $0.2125 dividend. This is a boost from Necessity Retail REIT’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Wednesday, April 12th. This represents a $0.85 annualized dividend and a dividend yield of 18.12%. Necessity Retail REIT’s payout ratio is currently -68.00%.

Wall Street Analyst Weigh In

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

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.