Dynamic Technology Lab Private Ltd bought a new stake in Realty Income Corp (NYSE:O) during the 1st quarter, Holdings Channel reports. The firm bought 7,386 shares of the real estate investment trust’s stock, valued at approximately $543,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in O. Laurel Wealth Advisors LLC acquired a new position in shares of Realty Income during the 4th quarter worth approximately $25,000. Pearl River Capital LLC acquired a new position in shares of Realty Income during the 4th quarter worth approximately $26,000. Investors Research Corp acquired a new position in shares of Realty Income during the 1st quarter worth approximately $27,000. Cornerstone Advisors Inc. increased its position in shares of Realty Income by 245.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 377 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 268 shares during the last quarter. Finally, Cascade Investment Advisors Inc. increased its position in shares of Realty Income by 900.0% during the 1st quarter. Cascade Investment Advisors Inc. now owns 400 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 69.28% of the company’s stock.
Shares of NYSE O opened at $72.23 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.80. Realty Income Corp has a one year low of $52.37 and a one year high of $74.14. The firm has a market capitalization of $22.83 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 4.93 and a beta of 0.16.
Realty Income (NYSE:O) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.43). The firm had revenue of $354.40 million during the quarter, compared to analyst estimates of $335.37 million. Realty Income had a net margin of 28.70% and a return on equity of 7.65%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 earnings per share. Equities analysts forecast that Realty Income Corp will post 3.3 earnings per share for the current fiscal year.
The business also recently announced a may 19 dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.226 per share. The ex-dividend date is Friday, May 31st. This represents a dividend yield of 3.92%. Realty Income’s payout ratio is 84.95%.
In other news, EVP Michael R. Pfeiffer sold 10,829 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $69.83, for a total transaction of $756,189.07. Following the completion of the sale, the executive vice president now directly owns 29,163 shares in the company, valued at approximately $2,036,452.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald Merriman sold 6,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $70.72, for a total value of $424,320.00. Following the sale, the director now owns 18,075 shares of the company’s stock, valued at $1,278,264. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,460 shares of company stock valued at $1,366,521. Corporate insiders own 0.20% of the company’s stock.
A number of research analysts recently weighed in on O shares. Stifel Nicolaus boosted their target price on Realty Income from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Citigroup set a $74.00 target price on Realty Income and gave the stock a “hold” rating in a report on Tuesday. Zacks Investment Research lowered Realty Income from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Wells Fargo & Co boosted their target price on Realty Income from $71.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. They noted that the move was a valuation call. Finally, Capital One Financial raised Realty Income from an “underweight” rating to an “equal weight” rating in a report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Realty Income presently has a consensus rating of “Hold” and an average price target of $61.91.
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Realty Income Profile
Realty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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