Covington Capital Management decreased its holdings in Realty Income Corp (NYSE:O) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,030 shares of the real estate investment trust’s stock after selling 241 shares during the period. Covington Capital Management’s holdings in Realty Income were worth $297,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in O. Busey Wealth Management purchased a new stake in shares of Realty Income in the 4th quarter valued at approximately $27,000. Pacitti Group Inc. purchased a new stake in shares of Realty Income in the 4th quarter valued at approximately $33,000. TRUE Private Wealth Advisors purchased a new stake in shares of Realty Income in the 4th quarter valued at approximately $36,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Realty Income in the 4th quarter valued at approximately $44,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Realty Income in the 4th quarter valued at approximately $45,000. Institutional investors own 73.17% of the company’s stock.
NYSE:O opened at $54.50 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $17.36 billion, a P/E ratio of 39.21, a PEG ratio of 4.48 and a beta of 0.22. The company has a 50 day moving average price of $72.24 and a 200 day moving average price of $75.34. Realty Income Corp has a fifty-two week low of $38.00 and a fifty-two week high of $84.92.
Realty Income (NYSE:O) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.44). The company had revenue of $397.50 million for the quarter, compared to analysts’ expectations of $375.16 million. Realty Income had a return on equity of 4.89% and a net margin of 29.26%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. Research analysts forecast that Realty Income Corp will post 3.5 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.233 dividend. This represents a $2.80 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a boost from Realty Income’s previous monthly dividend of $0.23. Realty Income’s dividend payout ratio (DPR) is currently 84.04%.
Several analysts have recently weighed in on O shares. Raymond James raised shares of Realty Income from a “market perform” rating to an “outperform” rating and set a $79.00 price target for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. increased their price target on shares of Realty Income from $76.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, March 9th. Citigroup raised shares of Realty Income from a “neutral” rating to a “buy” rating and increased their price target for the company from $78.00 to $87.00 in a research note on Thursday, December 12th. Deutsche Bank raised shares of Realty Income from a “hold” rating to a “buy” rating and dropped their price target for the company from $78.00 to $66.00 in a research note on Wednesday. Finally, Edward Jones raised shares of Realty Income from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Realty Income presently has an average rating of “Buy” and a consensus target price of $78.62.
Realty Income Company 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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