LPL Financial LLC increased its stake in Realty Income Corp (NYSE:O) by 49.7% during the 1st quarter, HoldingsChannel reports. The fund owned 224,258 shares of the real estate investment trust’s stock after purchasing an additional 74,460 shares during the quarter. LPL Financial LLC’s holdings in Realty Income were worth $11,601,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Centersquare Investment Management LLC purchased a new position in shares of Realty Income during the first quarter worth about $34,534,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Realty Income during the 4th quarter valued at approximately $36,904,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Realty Income during the 1st quarter valued at approximately $19,107,000. Allianz Asset Management GmbH acquired a new stake in shares of Realty Income during the 4th quarter valued at approximately $13,152,000. Finally, Geode Capital Management LLC lifted its position in shares of Realty Income by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 3,103,886 shares of the real estate investment trust’s stock valued at $176,627,000 after acquiring an additional 204,594 shares during the period. Institutional investors and hedge funds own 69.86% of the company’s stock.
A number of research firms have recently issued reports on O. ValuEngine downgraded shares of Realty Income from a “hold” rating to a “sell” rating in a research report on Wednesday, June 13th. DA Davidson set a $65.00 price target on shares of Realty Income and gave the company a “buy” rating in a research report on Thursday, May 10th. Mizuho reiterated a “hold” rating and set a $53.00 price target on shares of Realty Income in a research report on Friday, March 2nd. Stifel Nicolaus reduced their price target on shares of Realty Income from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, B. Riley set a $56.00 price target on shares of Realty Income and gave the company a “hold” rating in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Realty Income currently has an average rating of “Hold” and an average target price of $62.40.
Shares of Realty Income opened at $52.86 on Wednesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.58 and a quick ratio of 1.58. Realty Income Corp has a 1-year low of $47.25 and a 1-year high of $60.05. The company has a market cap of $15.04 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 3.74 and a beta of 0.21.
Realty Income (NYSE:O) last issued its quarterly earnings data on Tuesday, May 8th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.04). Realty Income had a return on equity of 4.99% and a net margin of 25.33%. The business had revenue of $318.30 million for the quarter, compared to analysts’ expectations of $305.83 million. During the same period last year, the business earned $0.76 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. sell-side analysts expect that Realty Income Corp will post 3.17 earnings per share for the current fiscal year.
The firm also recently disclosed a jul 18 dividend, which will be paid on Friday, July 13th. Stockholders of record on Monday, July 2nd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 29th. Realty Income’s dividend payout ratio (DPR) is 85.95%.
In other news, Director Kathleen Allen sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $52.55, for a total transaction of $210,200.00. Following the completion of the transaction, the director now directly owns 78,000 shares of the company’s stock, valued at approximately $4,098,900. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.
Realty Income Company Profile
Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing shareholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,000 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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