New York REIT, Inc. (NYSE:NYRT) announced a dividend on Wednesday, December 6th, Fidelity reports. Investors of record on Monday, December 18th will be paid a dividend of 1.00 per share by the real estate investment trust on Wednesday, December 27th. The ex-dividend date of this dividend is Friday, December 15th.

New York REIT has a payout ratio of 6,369.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect New York REIT to earn $0.47 per share next year, which means the company may not be able to cover its $24.84 annual dividend with an expected future payout ratio of 5,285.1%.

Shares of New York REIT (NYSE:NYRT) traded up $0.01 on Friday, hitting $4.92. The company had a trading volume of 1,977,276 shares, compared to its average volume of 2,855,928. The company has a debt-to-equity ratio of 1.45, a current ratio of 5.24 and a quick ratio of 5.24. New York REIT has a 52-week low of $4.89 and a 52-week high of $10.15. The stock has a market capitalization of $826.21, a PE ratio of 15.38 and a beta of 0.68.

An institutional investor recently raised its position in New York REIT stock. State Street Corp raised its stake in New York REIT, Inc. (NYSE:NYRT) by 58.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,229 shares of the real estate investment trust’s stock after buying an additional 55,810 shares during the quarter. State Street Corp owned approximately 0.09% of New York REIT worth $1,309,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Several brokerages recently commented on NYRT. SunTrust Banks set a $7.00 price target on New York REIT and gave the stock a “hold” rating in a research report on Friday, December 1st. ValuEngine upgraded New York REIT from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. New York REIT currently has a consensus rating of “Hold” and a consensus target price of $8.38.

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New York REIT Company Profile

New York REIT, Inc is a real estate investment trust. The Company owns a portfolio of commercial real estate. The Company’s business is primarily conducted through New York Recovery Operating Partnership, L.P. As of December 31, 2016, the Company owned 19 properties, which aggregated 3.3 million rentable square feet.

Dividend History for New York REIT (NYSE:NYRT)

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