New York REIT, Inc. (NYSE:NYRT) announced a dividend on Wednesday, December 6th, Fidelity reports. Investors of record on Monday, December 18th will be given 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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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) opened at $4.92 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 5.24 and a quick ratio of 5.24. The firm has a market capitalization of $826.21, a P/E ratio of 15.38 and a beta of 0.68. New York REIT has a 52 week low of $4.89 and a 52 week high of $10.15.

An institutional investor recently raised its position in New York REIT stock. State Street Corp raised its holdings in shares of New York REIT, Inc. (NYSE:NYRT) by 58.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 151,229 shares of the real estate investment trust’s stock after purchasing an additional 55,810 shares during the period. 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 analysts recently weighed in on the company. ValuEngine upgraded New York REIT from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. SunTrust Banks set a $7.00 price target on New York REIT and gave the stock a “hold” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target 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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