Phocas Financial Corp. Sells 395,821 Shares of The Necessity Retail REIT, Inc. (NASDAQ:RTL)

Phocas Financial Corp. trimmed its stake in The Necessity Retail REIT, Inc. (NASDAQ:RTL – Get Rating) by 36.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 693,776 shares of the company’s stock after selling 395,821 shares during the period. Phocas Financial Corp. owned about 0.52% of Necessity Retail REIT worth $4,114,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RTL. California State Teachers Retirement System bought a new stake in shares of Necessity Retail REIT during the third quarter worth $983,000. B. Riley Wealth Advisors Inc. bought a new position in Necessity Retail REIT in the third quarter valued at about $557,000. Kalos Management Inc. bought a new position in Necessity Retail REIT in the third quarter valued at about $149,000. M&T Bank Corp bought a new position in Necessity Retail REIT in the third quarter valued at about $94,000. Finally, Sunbelt Securities Inc. boosted its holdings in Necessity Retail REIT by 6.5% in the third quarter. Sunbelt Securities Inc. now owns 260,715 shares of the company’s stock valued at $1,533,000 after acquiring an additional 15,842 shares during the last quarter. Institutional investors own 57.04% of the company’s stock.

Necessity Retail REIT Trading Down 2.8 %

NASDAQ:RTL traded down $0.17 during mid-day trading on Friday, hitting $6.01. The company had a trading volume of 1,546,685 shares, compared to its average volume of 685,378. The Necessity Retail REIT, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $8.19. The business’s fifty day moving average is $6.60 and its two-hundred day moving average is $6.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market cap of $806.66 million, a P/E ratio of -7.51 and a beta of 1.42.

Necessity Retail REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, January 13th were paid a $0.2125 dividend. This is a positive change from Necessity Retail REIT’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 12th. This represents a $0.85 annualized dividend and a yield of 14.14%. Necessity Retail REIT’s dividend payout ratio is presently -106.25%.

Necessity Retail REIT 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.