New York REIT, Inc. Announces Dividend of $1.00 (NYRT)
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.
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.
TRADEMARK VIOLATION WARNING: This story was reported by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/12/10/new-york-reit-inc-announces-dividend-of-1-00-nyrt.html.
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.
Receive News & Ratings for New York REIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York REIT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.