New York REIT (NYSE:NYRT) Plans $4.85 Special Dividend

New York REIT (NYSE:NYRT) declared a special dividend on Thursday, May 3rd, Wall Street Journal reports. Shareholders of record on Friday, May 11th will be paid a dividend of 4.85 per share by the real estate investment trust on Friday, May 18th. The ex-dividend date is Thursday, May 10th.

New York REIT has increased its dividend by an average of 115.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. New York REIT has a payout ratio of 6,153.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

New York REIT traded down $0.01, reaching $17.74, during midday trading on Friday, MarketBeat reports. The stock had a trading volume of 5,015 shares, compared to its average volume of 177,202. New York REIT has a 1-year low of $17.61 and a 1-year high of $17.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 18.77 and a quick ratio of 18.77.

A number of equities analysts have recently commented on NYRT shares. Zacks Investment Research cut New York REIT from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. SunTrust Banks set a $26.00 price target on New York REIT and gave the company a “hold” rating in a research note on Sunday, March 18th. Finally, ValuEngine lowered New York REIT from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $61.75.

New York REIT Company Profile

NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties, located in New York City. NYRT's shareholders recently adopted a plan of liquidation pursuant to which NYRT is liquidating and winding down and, in connection therewith, is seeking to sell its assets in an orderly fashion to maximize shareholder value.

Dividend History for New York REIT (NYSE:NYRT)

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