American Research & Management Co. reduced its position in Realty Income Corp. (NYSE:O) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 71,371 shares of the company’s stock after selling 1,300 shares during the period. Realty Income Corp. makes up approximately 1.9% of American Research & Management Co.’s investment portfolio, making the stock its 16th largest position. American Research & Management Co.’s holdings in Realty Income Corp. were worth $4,950,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group acquired a new position in Realty Income Corp. during the second quarter worth $202,000. Stock Yards Bank & Trust Co. acquired a new position in Realty Income Corp. during the second quarter worth $203,000. Gofen & Glossberg LLC IL acquired a new position in Realty Income Corp. during the second quarter worth $209,000. LVM Capital Management Ltd. MI acquired a new position in Realty Income Corp. during the second quarter worth $214,000. Finally, Cue Financial Group Inc. acquired a new position in Realty Income Corp. during the second quarter worth $220,000. 70.96% of the stock is owned by hedge funds and other institutional investors.
Realty Income Corp. (NYSE:O) traded up 0.02% on Tuesday, reaching $62.66. The company’s stock had a trading volume of 1,212,612 shares. The company has a 50 day moving average of $65.09 and a 200 day moving average of $65.15. Realty Income Corp. has a 52 week low of $45.98 and a 52 week high of $72.30. The firm has a market capitalization of $16.20 billion, a price-to-earnings ratio of 57.49 and a beta of 0.33.
Realty Income Corp. (NYSE:O) last issued its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The company had revenue of $260.06 million for the quarter, compared to analyst estimates of $274.34 million. Realty Income Corp. had a return on equity of 5.08% and a net margin of 27.95%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, analysts forecast that Realty Income Corp. will post $2.85 earnings per share for the current year.
The business also recently announced a nov 16 dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be issued a dividend of $0.202 per share. This represents a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, October 28th. Realty Income Corp.’s dividend payout ratio is currently 222.02%.
O has been the subject of a number of research reports. Vetr raised Realty Income Corp. from a “strong sell” rating to a “strong-buy” rating and set a $84.79 price target for the company in a research note on Tuesday, August 2nd. Royal Bank Of Canada increased their price target on Realty Income Corp. from $58.00 to $66.00 and gave the company a “sector perform” rating in a research note on Monday, August 1st. Zacks Investment Research raised Realty Income Corp. from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday. BTIG Research initiated coverage on Realty Income Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Finally, Mizuho initiated coverage on Realty Income Corp. in a research note on Thursday, October 13th. They issued a “neutral” rating and a $65.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $62.80.
In related news, Director Ronald Merriman sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $66.68, for a total value of $166,700.00. Following the transaction, the director now directly owns 12,075 shares in the company, valued at $805,161. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Allen sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $70.49, for a total value of $281,960.00. Following the completion of the transaction, the director now owns 74,000 shares in the company, valued at $5,216,260. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.
About Realty Income Corp.
Realty Income Corporation is a real estate investment trust (REIT). The Company is engaged in in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology and capital markets capabilities. Its portfolio includes approximately 4,540 properties, of which over 4,519 are single-tenant properties, and the remaining are multi-tenant properties.
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